The US-listed company Bit Origin has secured $500 million in financing and plans to initiate a DOGE treasury program.

According to a report by Globenewswire on July 17, Deep Tide TechFlow announced that Nasdaq-listed company Bit Origin (NASDAQ: BTOG) has reached agreements with multiple accredited investors to launch a DOGE treasury reserve, with a total financing amount of up to 500 million USD, which includes 400 million USD in equity financing and 100 million USD in convertible bond financing.

The company plans to hold DOGE as a core asset for the long term, with the goal of becoming one of the largest publicly listed holders of DOGE in the world, and achieving long-term value enhancement through "growth in the amount of coins held per share."

Bit Origin stated that DOGE is playing an increasingly significant role in peer-to-peer payments and e-commerce scenarios due to its extremely fast settlement speed, large community size, and growing merchant acceptance. The company hopes that DOGE will become an important part of Elon Musk's X platform "X Money" payment system.