Chinese pork producer turned BTC miner kicks off Dogecoin plan

Bit Origin CEO Jinghai Jiang said the company adopted Dogecoin for its treasury because they see its “utility potential for micropayments nearing an inflection point.”

China-based pork processing company and Bitcoin miner Bit Origin has officially kicked off its crypto treasury initiative with its first acquisition of 40.5 million Dogecoin. 

In a statement on Monday, the company said the Dogecoin (DOGE) buy was the “first strategic acquisition” under its digital asset treasury initiative, supported by a share sale and debt offering that aimed to raise $500 million.

At an average price of $0.24 per coin, Bit Origin would have spent around $9.9 million on its recent Dogecoin acquisition. The token is currently trading at $0.26, according to Nansen.

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