The China -based pork processing company and the Bitcoin Miner Bit Origin officially kicked this crypto treasury initiative for the first take of 40.5 million Dogecoin.
In a statement on Monday, the company Says The Dogecoin (Doge) The purchase is the “first strategic acquisition” under the Digital Asset Treasury initiative, supported by a sharing of sale and debt offering aimed at raising $ 500 million.
At an average price of $ 0.24 per coin, the source spent nearly $ 9.9 million in recent takecoin extraction. The token is currently trading at $ 0.26, According to Kay Nansen.
Interestingly, the bit source is related to a firm linked to China’s crypto forced I -vacate a possession of wyoming after an order From the White House.
The source of the BIT joined forces in Mineone Partners Limited in 2022 to operate a crypto mining facility in Cheyenne, Wyoming, which provides strategic and operating support. The firm linked to the crypto crypto was forced to leave the property in 2024 due to its proximity to a nuclear missile base.
Before Join BIT source in 2021 as its chief official and CEO, Jinghai Jiang is a director in Mineone Partners Limited.
Bit Origin CEO said Dogecoin at the Inflection Point
Dogecoin was launched in 2013 Through software engineers Billy Markus and Jackson Palmer as a joke of joking system satirizing the wild speculation of crypto at that time, but since it has risen to become the largest cryptocurrency of the market cap.
Jiang said the bit of a bit that made Dogecoin adopted for its treasury Other cryptocurrencies Because they see “potential utility for micropayments close to an inflection point, driven by updated developer activity and greater institutional interest in tokenization.”
“As we accept the origin of its culture, which has helped driving liquidity and global familiarity, we believe that current market conditions align with Dogecoin’s evolution toward decentralized finances.”
The food company that has still pivoting in crypto
On July 17, the Bit Origin entered into investors agreement to sell up to $ 400 million in shares and up to $ 100 million in a changing debt to fund the Dogecoin Treasury approach.
Jiang Says In a statement at that time, “the source of the bit is emerging beyond the mining infrastructure to engage directly on the value and utility of digital possessions.”
The Bit Source was launched in 2019 as China Xiangtai food and is primarily engaged in pork processing, including killing, packing, distribution and wholesale.
Related: Dogecoin investor’s suits against Elon Musk dropped
However, in December 2021, the company announced It bought 742 spot first-tier new bitcoin miners as part of a crypto pivot and changed Its name in the Bit Source in 2022.
Like 2025, it does not mention pork processing in its company profile.
The largest Dogecoin holder
Dogecoin is currently mainly sinking towards whale holders. Data from crypto tracker bitanfocharts Shut up That over 81% of the supply of Dogecoins were held in 908 addresses.
An address holds more than 28 billion, while the next 14 largest wallets have more than 43 billion. Crypto Exchange Exolix Says In March that a purse connected to brokerage firm Robinhood holds 28 billion tokens.
While an anonymous owner is the second largest holder with 8.90 billion Dogecoin, and the Crypto Exchange Binance is the third largest holder with 7.65 billion.
In comparison, approximately 82% of Bitcoin (Btc) will be held in 152,002 purse addresses, According to In BitinginFocharts.
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