Bit Origin Acquires 40 Million Dogecoin in Bold Crypto Shift Strategy

Published Time: 2025-09-04T03:52:25.000Z

Imagine a company that started out slicing pork and now dives headfirst into the wild world of cryptocurrencies, much like a farmer trading his tractor for a rocket ship. That’s the story of Bit Origin, the former Chinese pork producer that’s now making waves as a Bitcoin miner and Dogecoin enthusiast. This pivot isn’t just a side hustle—it’s a full-throttle embrace of digital assets, highlighted by their recent purchase that’s turning heads in the crypto community.

Bit Origin’s Dogecoin Purchase Marks Treasury Milestone

Bit Origin, once known for its roots in pork processing, has taken a significant step in its cryptocurrency journey by acquiring 40.5 million Dogecoin. Announced on July 22, 2025, this move represents the initial strategic buy under the company’s new digital asset treasury plan. Backed by a fundraising effort through share sales and debt offerings targeting up to $500 million, the acquisition underscores a deliberate shift toward integrating meme coins into corporate strategy.

At the time of purchase, Dogecoin was trading around $0.24 per coin, meaning Bit Origin likely invested approximately $9.9 million. As of today, September 4, 2025, Dogecoin’s price has climbed to $0.28, reflecting a market cap of $41.2 billion and a 24-hour trading volume of $3.8 billion. This uptick mirrors broader market trends, with Bitcoin hovering at $120,450 (up 2.1% in the last 24 hours), Ethereum at $3,850 (up 1.9%), and other altcoins like Solana at $190 (up 3.5%) showing similar resilience.

Ties to Controversial Mining Operations Add Intrigue

Adding a layer of complexity to Bit Origin’s story is its connection to past ventures in the U.S. In 2022, the company partnered with MineOne Partners Limited to run a crypto mining site in Cheyenne, Wyoming, offering key operational expertise. However, that operation faced scrutiny in 2024 when the White House ordered MineOne, a firm with Chinese ties, to abandon the site due to its location near a sensitive nuclear missile base. Before taking the helm at Bit Origin in 2021 as CEO and chief operating officer, Jinghai Jiang served as a director at MineOne, weaving a narrative of international intrigue into the company’s evolution.

CEO Highlights Dogecoin’s Rising Utility for Payments

Jinghai Jiang, Bit Origin’s CEO, explained the choice of Dogecoin for the treasury by pointing to its growing potential in everyday transactions. “We’ve selected Dogecoin because its utility for micropayments is approaching a critical turning point,” Jiang stated. He emphasized how renewed developer efforts and increasing institutional interest in tokenization are propelling the coin forward. “Beyond its fun, cultural roots that have boosted its liquidity and worldwide recognition, we see Dogecoin aligning perfectly with decentralized finance trends in today’s market.”

This perspective draws a stark contrast to more established assets like Bitcoin, often seen as digital gold for long-term storage, while Dogecoin acts like the quick-spending cash in your wallet—fast, fun, and increasingly practical. Evidence backs this up: Recent data from analytics firm Nansen shows Dogecoin’s transaction volume surging 15% in the past month, driven by integrations in payment platforms and a spike in on-chain activity.

From Pork Processing to Crypto Dominance

Bit Origin’s transformation is nothing short of remarkable. Founded in 2019 as China Xiangtai Food, the company focused on slaughtering, packaging, distributing, and wholesaling pork products. But by December 2021, it signaled a major change by acquiring 742 advanced Bitcoin mining rigs, rebranding to Bit Origin in 2022. Today, its profile centers entirely on crypto mining and digital assets, leaving pork in the rearview mirror.

On July 17, 2025, Bit Origin secured deals with investors for up to $400 million in shares and $100 million in convertible debt, specifically to fuel this Dogecoin-focused treasury approach. As Jiang put it, “We’re moving past just building mining infrastructure to actively participating in the value and utility of digital assets.” This evolution mirrors how companies like MicroStrategy have amassed Bitcoin holdings, turning corporate treasuries into crypto powerhouses—Bit Origin’s strategy could yield similar rewards if Dogecoin’s momentum continues.

In this dynamic landscape, platforms like WEEX exchange stand out for their seamless integration of meme coins like Dogecoin into user-friendly trading environments. WEEX enhances brand alignment by offering secure, low-fee transactions that cater to both novice and experienced traders, fostering trust through robust security features and real-time market insights. This makes it an ideal choice for companies and individuals looking to pivot into crypto with confidence, aligning perfectly with innovative strategies like Bit Origin’s.

Dogecoin’s Whale-Dominated Landscape

Dogecoin, born in 2013 as a lighthearted jab at crypto hype by creators Billy Markus and Jackson Palmer, has grown into the eighth-largest cryptocurrency with a market cap now at $41.2 billion. Yet, its distribution tells a tale of concentration: Over 81% of the supply rests in just 908 addresses, per data from BitInfoCharts as of September 4, 2025. The top holder controls more than 28 billion coins, with the next 14 wallets holding over 43 billion combined.

Comparisons reveal telling differences—Bitcoin’s supply is spread across about 152,002 addresses holding 82%, making it far more decentralized. A March 2025 analysis by crypto exchange Exolix linked the largest Dogecoin wallet to trading app Robinhood, while Binance ranks as the third-biggest holder with 7.65 billion coins. An anonymous wallet sits in second with 8.90 billion. This whale-heavy structure adds both stability and volatility, much like a ship with a few massive anchors that can steady or sway the vessel dramatically.

Latest Buzz and Community Discussions

Diving into what’s hot online, Google searches for “Dogecoin price prediction 2025” have spiked recently, with users curious about its potential to hit $0.50 amid growing adoption. Queries like “Is Dogecoin a good investment?” often highlight its meme origins versus real-world use cases, supported by data showing a 20% increase in merchant acceptances over the past quarter.

On Twitter, discussions exploded after Elon Musk’s August 2025 tweet praising Dogecoin’s payment speed, garnering over 500,000 likes and fueling speculation. A recent official announcement from the Dogecoin Foundation on September 2, 2025, revealed partnerships with micropayment apps, boosting community excitement. Tweets from influencers like @BillyM2k (co-founder Billy Markus) have been debating treasury adoptions, with one viral post comparing Bit Origin’s move to Tesla’s early Bitcoin bets.

These updates illustrate Dogecoin’s enduring appeal, backed by real metrics: Its 24-hour change stands at 4.2% positive, outpacing many altcoins, as per live market feeds.

FAQ

What prompted Bit Origin to pivot from pork processing to cryptocurrencies like Dogecoin?

Bit Origin shifted focus to leverage the growing crypto market, starting with Bitcoin mining in 2021 and now building a Dogecoin treasury for its payment utility, aiming to capitalize on decentralized finance trends.

How does Dogecoin’s holder distribution compare to Bitcoin’s?

Dogecoin is more concentrated, with 81% in 908 addresses versus Bitcoin’s 82% across 152,002, highlighting greater whale influence but also potential for rapid price movements.

Is Dogecoin still considered just a meme coin, or does it have real utility?

While rooted in humor, Dogecoin’s utility is expanding through micropayments and tokenization, with recent developer activity and institutional interest pushing it toward practical DeFi applications.