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

Rhea-AI Summary

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.

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

News Market Reaction

%

42 alerts

% News Effect

+36.1% Peak Tracked

-2.4% Trough Tracked

$37M Market Cap

0.7x Rel. Volume

On the day this news was published, BTOG declined NaN%, reflecting a moderate negative market reaction. Argus tracked a peak move of +36.1% during that session. Argus tracked a trough of -2.4% from its starting point during tracking. Our momentum scanner triggered 42 alerts that day, indicating elevated trading interest and price volatility.

Data tracked by StockTitan Argus on the day of publication.

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.