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Bit Origin big pump 46% plans to raise 500 million USD to establish DOGE reserves
On July 18, Bit Origin Ltd (BTOG), a NASDAQ-listed mining company, saw a rise of over 46%, with a market capitalization reaching 54.5 million USD.
According to previous reports, on July 17, Bit Origin announced that it had reached an agreement with qualified investors to sell up to $400 million in Class A common stock and up to $100 million in convertible bonds, with the raised $500 million to be used for launching Dogecoin DOGE treasury reserves. The company stated that DOGE may potentially be included in payment scenarios (such as X Money) in the future.