A Chinese food company has transformed into a crypto assets miner and announced its first investment in the DOGE meme coin!

Bit Origin was once a Chinese pork processing company, but later suddenly shifted to the Crypto Assets field—first investing $9.9 million in DOGE.

The company has now been renamed and listed on NASDAQ, and announced its first major Crypto Assets fundraising initiative, which is the acquisition of 40.5 million DOGE at an average price of $0.24 per token.

This marks the launch of a larger plan aimed at establishing a $500 million digital asset reserve, supported by equity and convertible debt.

This decision is backed by CEO Jiang Jinghai, who believes that the era of DOGE has arrived—it is no longer just a meme, but has become a tool for small payments. He pointed out that the increase in developer activity and the growing interest in tokenization both indicate that DOGE may play a more important role in decentralized finance.

Bit Origin's ambition to enter the Crypto Assets field has a long history. The company began mining Bitcoin in 2021 and severed its ties with the meat industry in 2022. Previously, the company had collaborated with MineOne Partners to operate a mining site in Wyoming—but due to its proximity to U.S. missile facilities, the site was forced to close suddenly for national security reasons. Jiang himself had also held leadership positions at MineOne.

Today, the company description of Bit Origin no longer even mentions food. It has completely entered the Crypto Assets field—acquiring DOGE is just the beginning.

Today (23) during the Asian early session, DOGE is currently at 0.2662 USD, with a daily decline of 1.25%.