Publicly Listed Company Bit Origin Announces $500 Million Securities Issuance to Establish DOGE Reserve

According to ChainCatcher, citing GlobeNewswire, Nasdaq-listed Bit Origin Ltd (BTOG) has announced an agreement with qualified investors to issue up to $400 million in Class A common stock and $100 million in convertible bonds. The funds raised will be used to establish the company’s Dogecoin (DOGE) reserve strategy.

The company has completed the first closing of the convertible bonds ($15 million) and plans to allocate the majority of the funds to the initial acquisition of Dogecoin. 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 US-based cryptocurrency mining company that is currently diversifying into blockchain technology. Chardan is acting as the placement agent for this securities offering, with specific terms subject to the company’s 6-K filing submitted on July 17, 2025.