The post Chinese Food Firm-Turned-Crypto Miner Bets on Dogecoin appeared on BitcoinEthereumNews.com.

Altcoins Once a pork processing business in China, Bit Origin has taken a sharp turn into the world of crypto—beginning with a $9.9 million bet on Dogecoin. Now rebranded and listed on Nasdaq, the company announced its first major crypto treasury move by scooping up 40.5 million DOGE, acquired at an average of $0.24 per token. This marks the launch of a much larger plan to build a $500 million digital asset reserve, backed by a mix of equity and convertible debt. Behind the decision is CEO Jinghai Jiang, who believes Dogecoin’s time has come—not just as a meme, but as a tool for micropayments. He points to rising developer activity and growing interest in tokenization as signs that DOGE could play a bigger role in decentralized finance. Bit Origin’s crypto ambitions are nothing new. The firm began mining Bitcoin in 2021 and dropped its meat industry ties by 2022. It had previously partnered with MineOne Partners to run a mining site in Wyoming—until national security concerns forced an abrupt shutdown due to its proximity to a U.S. missile facility. Jiang himself once held a leadership role at MineOne. Today, Bit Origin doesn’t even mention food in its company description. It’s gone full crypto—and its Dogecoin purchase is only the beginning. Author Alexander Zdravkov Reporter at Coindoo Alexander Zdravkov is a person who always looks for the logic behind things. He is fluent in German and has more than 3 years of experience in the crypto space, where he skillfully identifies new trends in the world of digital currencies. Whether providing in-depth analysis or daily reports on all topics, his deep understanding and enthusiasm for what he does make him a valuable member of the team.
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Filed under: News - @ July 23, 2025 1:24 am