Bit Origin Stock Soars 90% After $500M Dogecoin Treasury Announcement
Bit Origin stock jumps 90% after announcing a $500M Dogecoin treasury, signaling growing U.S. interest in meme coin integration.
Shares of U.S.-based Bitcoin mining company Bit Origin (BTOG) soared 90% on Thursday after the firm announced a bold move to allocate $500 million toward building a Dogecoin (DOGE) treasury—an aggressive bet on the utility and cultural power of the world’s most recognized meme coin.
According to the company’s release, Bit Origin has secured agreements to raise $400 million through Class A common stock and an additional $100 million via convertible debt. The funds will be directed toward acquiring Dogecoin as part of the firm’s transition into a broader digital assets strategy.
“Bit Origin is evolving from a pure mining operation to an active participant in digital asset economies,” said Chairman Jinghai Jiang. He highlighted Dogecoin’s fast settlement speed, broad liquidity, and massive community support as key advantages.
The company’s strategy aligns with the anticipated rollout of Elon Musk’s rumored "X Money" ecosystem, which seeks to transform the X platform (formerly Twitter) into a multifunctional super-app. While no official DOGE integration has been confirmed, Bit Origin leadership expressed confidence that Dogecoin could become a cornerstone asset within that vision.
“DOGE’s real-time utility and vibrant user base make it uniquely suited for peer-to-peer payments,” Jiang said. “We believe its alignment with X Money’s goals could amplify adoption even further.”
Bit Origin joins a growing list of American companies experimenting with Dogecoin-based financial strategies. Earlier this year, a cannabis company and biotech firm Coeptis both made headlines for pivoting toward DOGE as part of their corporate treasury diversification.
Despite Thursday’s 90% price jump to $0.63 per share, Bit Origin’s stock remains down over 35% year-to-date. However, the treasury announcement helped propel DOGE itself to a 2% daily gain at $0.21, and nearly 25% growth over the last month. Still, it remains 71% below its all-time high from 2021.
As traditional firms explore meme coin adoption, Bit Origin’s move could mark a turning point in how digital-native assets are deployed in corporate finance. While the long-term viability of Dogecoin as a treasury asset remains uncertain, the market response reflects growing investor appetite for innovation in crypto finance.
