The listed company Bit Origin announced the issuance of $500 million in securities to establish a DOGE reserve

ChainCatcher news, according to GlobeNewswire, Nasdaq-listed Bit Origin Ltd (BTOG) announced an agreement with qualified investors to issue up to $400 million of Class A common stock and $100 million of convertible bonds, with the funds raised to be used for establishing the company's Dogecoin (DOGE) reserve strategy.

The company has completed the initial delivery of the convertible bonds ($15 million) and plans to use most of the funds for the initial Dogecoin acquisition. According to the announcement, the strategy aims to achieve long-term value by increasing the "number of Dogecoins held per share," while the company is also exploring services and payment applications for miners.

Bit Origin is a U.S. cryptocurrency mining company that is currently diversifying into blockchain technology. This securities issuance is being managed by Chardan as the placement agent, with specific terms to be governed by the company's 6-K filing submitted on July 17, 2025.