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Bit Origin Surpasses 70 Million Dogecoin (DOGE) Holdings Following Private Placement

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Bit Origin (NASDAQ: BTOG) has announced the completion of a private placement involving the sale of 20 million Class A ordinary shares for 30 million DOGE, at an acquisition cost of $0.2 per DOGE. This strategic move has significantly expanded the company's Dogecoin treasury to 70,543,745 DOGE with an average acquisition cost of approximately $0.2268 per DOGE.

The private placement complements Bit Origin's previously announced $500 million equity purchase and convertible note facility, supporting their goal of establishing one of the largest Dogecoin treasuries among publicly traded companies. The company's Pro Forma DOGE-Per-Share (DPS) now stands at approximately 0.80.

Bit Origin (NASDAQ: BTOG) ha annunciato il completamento di un collocamento privato con la vendita di 20 milioni di azioni ordinarie di classe A per 30 milioni di DOGE, a un costo di acquisizione di $0.2 per DOGE. Questa mossa strategica ha ampliato significativamente la tesoreria in Dogecoin della società fino a 70,543,745 DOGE, con un costo medio di acquisizione di circa $0.2268 per DOGE.

Il collocamento privato integra il precedente annuncio di un programma da 500 milioni di dollari per acquisti azionari e note convertibili, a sostegno dell'obiettivo di creare una delle più grandi riserve di Dogecoin tra le società quotate. Il Pro Forma DOGE-Per-Share (DPS) è ora di circa 0.80.

Bit Origin (NASDAQ: BTOG) ha anunciado la finalización de una colocación privada que implicó la venta de 20 millones de acciones ordinarias clase A por 30 millones de DOGE, a un coste de adquisición de $0.2 por DOGE. Este movimiento estratégico ha ampliado significativamente la tesorería en Dogecoin de la compañía hasta 70,543,745 DOGE, con un coste medio de adquisición de aproximadamente $0.2268 por DOGE.

La colocación privada complementa la facilidad de compra de acciones y notas convertibles por 500 millones de dólares anunciada anteriormente, apoyando su objetivo de establecer una de las mayores tesorerías de Dogecoin entre las empresas cotizadas. El DOGE por acción (DPS) pro forma de la compañía se sitúa ahora en aproximadamente 0.80.

Bit Origin (NASDAQ: BTOG)2,000만 주(클래스 A 보통주)3,000만 DOGE에 매각하는 사모 발행을 완료했다고 발표했습니다(취득가 1 DOGE당 $0.2). 이번 전략적 조치로 회사의 도지코인 보유고는 평균 취득가 약 $0.2268로 총 70,543,745 DOGE로 크게 늘었습니다.

이 사모 발행은 회사가 이전에 발표한 5억 달러 규모의 주식 매수 및 전환사채 시설을 보완하여, 상장사 중 최대 규모의 도지코인 보유고를 구축하겠다는 목표를 지원합니다. 회사의 프로포마 DOGE-주당(DPS)은 현재 약 0.80입니다.

Bit Origin (NASDAQ: BTOG) a annoncé la finalisation d'un placement privé impliquant la vente de 20 millions d'actions ordinaires de catégorie A pour 30 millions de DOGE, à un coût d'acquisition de $0.2 par DOGE. Cette opération stratégique a considérablement augmenté la trésorerie en Dogecoin de la société à 70,543,745 DOGE, avec un coût d'acquisition moyen d'environ $0.2268 par DOGE.

Le placement privé complète la facilité d'achat d'actions et de billets convertibles de 500 millions de dollars annoncée précédemment, soutenant l'objectif d'établir l'une des plus grandes trésoreries en Dogecoin parmi les sociétés cotées. Le DOGE par action (DPS) pro forma de la société est désormais d'environ 0.80.

Bit Origin (NASDAQ: BTOG) hat den Abschluss einer Privatplatzierung bekannt gegeben, bei der 20 Millionen Stammaktien der Klasse A für 30 Millionen DOGE verkauft wurden, zum Erwerbspreis von $0.2 pro DOGE. Dieser strategische Schritt hat die Dogecoin-Treasury des Unternehmens auf 70,543,745 DOGE erhöht, mit einem durchschnittlichen Erwerbspreis von etwa $0.2268 pro DOGE.

Die Privatplatzierung ergänzt die zuvor angekündigte 500-Millionen-Dollar-Fazilität für Aktienkäufe und wandelbare Schuldverschreibungen und unterstützt das Ziel, eine der größten Dogecoin-Reserven unter börsennotierten Unternehmen aufzubauen. Der Pro-Forma DOGE-per-Share (DPS) liegt nun bei etwa 0.80.

Positive
  • Increased Dogecoin treasury to over 70.5 million DOGE through strategic acquisition
  • Secured $500 million equity purchase and convertible note facility for future growth
  • Achieved favorable acquisition cost of $0.2 per DOGE in latest private placement
  • Established strong DOGE-Per-Share ratio of 0.80
Negative
  • Significant exposure to Dogecoin price volatility risk
  • Substantial capital allocation to cryptocurrency assets may limit operational flexibility
  • Dilution of existing shareholders through new share issuance

Insights

Bit Origin expands Dogecoin treasury to 70.5M DOGE via private placement, positioning for crypto asset appreciation with minimal dilution.

Bit Origin has executed a strategic private placement raising 30 million DOGE (acquired at $0.20 per DOGE) through the sale of 20 million Class A ordinary shares. This transaction has elevated their Dogecoin holdings to 70,543,745 DOGE at an average acquisition cost of $0.2268 per coin.

This move represents a calculated balance sheet strategy. By denominating the private placement in DOGE rather than USD, the company accomplishes two objectives simultaneously: raising capital while expanding cryptocurrency reserves without liquidating existing holdings. Their DOGE-Per-Share (DPS) metric, now at ~0.80, functions similarly to Bitcoin's treasury approach pioneered by MicroStrategy, creating a potential value proposition if DOGE appreciates.

The company's financing structure shows sophistication - this placement complements an existing $500 million equity purchase and convertible note facility, suggesting a comprehensive capital formation strategy centered around DOGE accumulation. The ~$0.227 average acquisition cost establishes a clear price threshold for future profitability.

By establishing themselves among public companies with significant DOGE exposure, Bit Origin is effectively positioning as a proxy investment for Dogecoin price movement while maintaining business operations flexibility. This approach creates a leveraged position on DOGE with the corporate structure potentially offering advantages compared to direct cryptocurrency ownership.

SINGAPORE, Aug. 12, 2025 (GLOBE NEWSWIRE) -- Bit Origin Ltd (NASDAQ: BTOG) ("Bit Origin" or the "Company"), today announced the closing of a private placement for the purchase and sale of 20 million Class A ordinary shares for aggregate gross proceeds of 30 million DOGE, at an acquisition cost of $0.2 per DOGE, to advance the Company’s Dogecoin treasury.

Dogecoin Treasury KPIs as of August 11, 2025:

  • Holdings: 70,543,745 DOGE
  • Average Acquisition Cost: ~$0.2268 per DOGE1
  • Pro Forma DOGE-Per-Share (DPS): ~0.802

“We continue to reimagine how capital formation can align with our digital asset strategy,” said Jinghai Jiang, Chairman and CEO of Bit Origin. “This DOGE-denominated private placement enhances our ability to scale DOGE holdings while driving DOGE-Per-Share.”

This private placement complements Bit Origin’s previously announced $500 million equity purchase and convertible note facility, which together support the Company’s goal of building one of the largest Dogecoin treasuries among publicly traded companies.

1Average Acquisition Cost is calculated by dividing the sum of (i) total cost of DOGE acquisitions made in USD and (ii) cost attributed to the private placement, by the Company’s current DOGE holdings.

2DOGE-Per-Share is calculated by dividing the Company’s current DOGE holdings by the total number of Class A and Class B ordinary shares outstanding as of August 11, 2025.

The foregoing description does not purport to be complete and is qualified in its entirety by reference to the full text of the Company’s current report on Form 6-K dated August 12, 2025.

About Bit Origin Ltd

Bit Origin Ltd is an emerging growth company actively deploying blockchain technologies alongside diversified expansion strategies. For more information, please visit https://bitorigin.io.

Safe Harbor Statement

This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results.

Company Contact

Bit Origin Ltd
Mr. Jiang Jinghai, Chairman of the Board, CEO and COO
Email: ir@bitorigin.io

To keep updated on Bit Origin’s news releases and SEC filings, please subscribe to email alerts at https://bitorigin.io/contact


FAQ

What is Bit Origin's (BTOG) current Dogecoin holding as of August 2025?

Bit Origin holds 70,543,745 DOGE with an average acquisition cost of $0.2268 per DOGE as of August 11, 2025.

How many Class A ordinary shares did BTOG issue in the August 2025 private placement?

Bit Origin issued 20 million Class A ordinary shares in exchange for 30 million DOGE at an acquisition cost of $0.2 per DOGE.

What is Bit Origin's DOGE-Per-Share (DPS) ratio?

Bit Origin's Pro Forma DOGE-Per-Share (DPS) is approximately 0.80, calculated by dividing total DOGE holdings by outstanding Class A and B shares.

How does this private placement align with BTOG's broader strategy?

This placement complements Bit Origin's $500 million equity purchase and convertible note facility, supporting their goal to build one of the largest Dogecoin treasuries among public companies.

What is the total value of DOGE acquired in the August 2025 private placement?

Bit Origin acquired 30 million DOGE at $0.2 per DOGE, representing a total value of $6 million in the private placement.
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