Bit Origin Acquires 40 Million Dogecoin in Bold Crypto Shift Strategy
Published Time: 2025-09-04T03:52:25.000Z
Imagine a company that started out slicing pork and now dives headfirst into the wild world of cryptocurrencies, much like a farmer trading his tractor for a rocket ship. That’s the story of Bit Origin, the former Chinese pork producer that’s now making waves as a Bitcoin miner and Dogecoin enthusiast. This pivot isn’t just a side hustle—it’s a full-throttle embrace of digital assets, highlighted by their recent purchase that’s turning heads in the crypto community.
Bit Origin’s Dogecoin Purchase Marks Treasury Milestone
Bit Origin, once known for its roots in pork processing, has taken a significant step in its cryptocurrency journey by acquiring 40.5 million Dogecoin. Announced on July 22, 2025, this move represents the initial strategic buy under the company’s new digital asset treasury plan. Backed by a fundraising effort through share sales and debt offerings targeting up to $500 million, the acquisition underscores a deliberate shift toward integrating meme coins into corporate strategy.
At the time of purchase, Dogecoin was trading around $0.24 per coin, meaning Bit Origin likely invested approximately $9.9 million. As of today, September 4, 2025, Dogecoin’s price has climbed to $0.28, reflecting a market cap of $41.2 billion and a 24-hour trading volume of $3.8 billion. This uptick mirrors broader market trends, with Bitcoin hovering at $120,450 (up 2.1% in the last 24 hours), Ethereum at $3,850 (up 1.9%), and other altcoins like Solana at $190 (up 3.5%) showing similar resilience.
Ties to Controversial Mining Operations Add Intrigue
Adding a layer of complexity to Bit Origin’s story is its connection to past ventures in the U.S. In 2022, the company partnered with MineOne Partners Limited to run a crypto mining site in Cheyenne, Wyoming, offering key operational expertise. However, that operation faced scrutiny in 2024 when the White House ordered MineOne, a firm with Chinese ties, to abandon the site due to its location near a sensitive nuclear missile base. Before taking the helm at Bit Origin in 2021 as CEO and chief operating officer, Jinghai Jiang served as a director at MineOne, weaving a narrative of international intrigue into the company’s evolution.
CEO Highlights Dogecoin’s Rising Utility for Payments
Jinghai Jiang, Bit Origin’s CEO, explained the choice of Dogecoin for the treasury by pointing to its growing potential in everyday transactions. “We’ve selected Dogecoin because its utility for micropayments is approaching a critical turning point,” Jiang stated. He emphasized how renewed developer efforts and increasing institutional interest in tokenization are propelling the coin forward. “Beyond its fun, cultural roots that have boosted its liquidity and worldwide recognition, we see Dogecoin aligning perfectly with decentralized finance trends in today’s market.”
This perspective draws a stark contrast to more established assets like Bitcoin, often seen as digital gold for long-term storage, while Dogecoin acts like the quick-spending cash in your wallet—fast, fun, and increasingly practical. Evidence backs this up: Recent data from analytics firm Nansen shows Dogecoin’s transaction volume surging 15% in the past month, driven by integrations in payment platforms and a spike in on-chain activity.
From Pork Processing to Crypto Dominance
Bit Origin’s transformation is nothing short of remarkable. Founded in 2019 as China Xiangtai Food, the company focused on slaughtering, packaging, distributing, and wholesaling pork products. But by December 2021, it signaled a major change by acquiring 742 advanced Bitcoin mining rigs, rebranding to Bit Origin in 2022. Today, its profile centers entirely on crypto mining and digital assets, leaving pork in the rearview mirror.
On July 17, 2025, Bit Origin secured deals with investors for up to $400 million in shares and $100 million in convertible debt, specifically to fuel this Dogecoin-focused treasury approach. As Jiang put it, “We’re moving past just building mining infrastructure to actively participating in the value and utility of digital assets.” This evolution mirrors how companies like MicroStrategy have amassed Bitcoin holdings, turning corporate treasuries into crypto powerhouses—Bit Origin’s strategy could yield similar rewards if Dogecoin’s momentum continues.
In this dynamic landscape, platforms like WEEX exchange stand out for their seamless integration of meme coins like Dogecoin into user-friendly trading environments. WEEX enhances brand alignment by offering secure, low-fee transactions that cater to both novice and experienced traders, fostering trust through robust security features and real-time market insights. This makes it an ideal choice for companies and individuals looking to pivot into crypto with confidence, aligning perfectly with innovative strategies like Bit Origin’s.
Dogecoin’s Whale-Dominated Landscape
Dogecoin, born in 2013 as a lighthearted jab at crypto hype by creators Billy Markus and Jackson Palmer, has grown into the eighth-largest cryptocurrency with a market cap now at $41.2 billion. Yet, its distribution tells a tale of concentration: Over 81% of the supply rests in just 908 addresses, per data from BitInfoCharts as of September 4, 2025. The top holder controls more than 28 billion coins, with the next 14 wallets holding over 43 billion combined.
Comparisons reveal telling differences—Bitcoin’s supply is spread across about 152,002 addresses holding 82%, making it far more decentralized. A March 2025 analysis by crypto exchange Exolix linked the largest Dogecoin wallet to trading app Robinhood, while Binance ranks as the third-biggest holder with 7.65 billion coins. An anonymous wallet sits in second with 8.90 billion. This whale-heavy structure adds both stability and volatility, much like a ship with a few massive anchors that can steady or sway the vessel dramatically.
Latest Buzz and Community Discussions
Diving into what’s hot online, Google searches for “Dogecoin price prediction 2025” have spiked recently, with users curious about its potential to hit $0.50 amid growing adoption. Queries like “Is Dogecoin a good investment?” often highlight its meme origins versus real-world use cases, supported by data showing a 20% increase in merchant acceptances over the past quarter.
On Twitter, discussions exploded after Elon Musk’s August 2025 tweet praising Dogecoin’s payment speed, garnering over 500,000 likes and fueling speculation. A recent official announcement from the Dogecoin Foundation on September 2, 2025, revealed partnerships with micropayment apps, boosting community excitement. Tweets from influencers like @BillyM2k (co-founder Billy Markus) have been debating treasury adoptions, with one viral post comparing Bit Origin’s move to Tesla’s early Bitcoin bets.
These updates illustrate Dogecoin’s enduring appeal, backed by real metrics: Its 24-hour change stands at 4.2% positive, outpacing many altcoins, as per live market feeds.
FAQ
What prompted Bit Origin to pivot from pork processing to cryptocurrencies like Dogecoin?
Bit Origin shifted focus to leverage the growing crypto market, starting with Bitcoin mining in 2021 and now building a Dogecoin treasury for its payment utility, aiming to capitalize on decentralized finance trends.
How does Dogecoin’s holder distribution compare to Bitcoin’s?
Dogecoin is more concentrated, with 81% in 908 addresses versus Bitcoin’s 82% across 152,002, highlighting greater whale influence but also potential for rapid price movements.
Is Dogecoin still considered just a meme coin, or does it have real utility?
While rooted in humor, Dogecoin’s utility is expanding through micropayments and tokenization, with recent developer activity and institutional interest pushing it toward practical DeFi applications.
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Debunking the AI Doomsday Myth: Why Establishment Inertia and the Software Wasteland Will Save Us
Editor's Note: Citrini7's cyberpunk-themed AI doomsday prophecy has sparked widespread discussion across the internet. However, this article presents a more pragmatic counter perspective. If Citrini envisions a digital tsunami instantly engulfing civilization, this author sees the resilient resistance of the human bureaucratic system, the profoundly flawed existing software ecosystem, and the long-overlooked cornerstone of heavy industry. This is a frontal clash between Silicon Valley fantasy and the iron law of reality, reminding us that the singularity may come, but it will never happen overnight.
The following is the original content:
Renowned market commentator Citrini7 recently published a captivating and widely circulated AI doomsday novel. While he acknowledges that the probability of some scenes occurring is extremely low, as someone who has witnessed multiple economic collapse prophecies, I want to challenge his views and present a more deterministic and optimistic future.
In 2007, people thought that against the backdrop of "peak oil," the United States' geopolitical status had come to an end; in 2008, they believed the dollar system was on the brink of collapse; in 2014, everyone thought AMD and NVIDIA were done for. Then ChatGPT emerged, and people thought Google was toast... Yet every time, existing institutions with deep-rooted inertia have proven to be far more resilient than onlookers imagined.
When Citrini talks about the fear of institutional turnover and rapid workforce displacement, he writes, "Even in fields we think rely on interpersonal relationships, cracks are showing. Take the real estate industry, where buyers have tolerated 5%-6% commissions for decades due to the information asymmetry between brokers and consumers..."
Seeing this, I couldn't help but chuckle. People have been proclaiming the "death of real estate agents" for 20 years now! This hardly requires any superintelligence; with Zillow, Redfin, or Opendoor, it's enough. But this example precisely proves the opposite of Citrini's view: although this workforce has long been deemed obsolete in the eyes of most, due to market inertia and regulatory capture, real estate agents' vitality is more tenacious than anyone's expectations a decade ago.
A few months ago, I just bought a house. The transaction process mandated that we hire a real estate agent, with lofty justifications. My buyer's agent made about $50,000 in this transaction, while his actual work — filling out forms and coordinating between multiple parties — amounted to no more than 10 hours, something I could have easily handled myself. The market will eventually move towards efficiency, providing fair pricing for labor, but this will be a long process.
I deeply understand the ways of inertia and change management: I once founded and sold a company whose core business was driving insurance brokerages from "manual service" to "software-driven." The iron rule I learned is: human societies in the real world are extremely complex, and things always take longer than you imagine — even when you account for this rule. This doesn't mean that the world won't undergo drastic changes, but rather that change will be more gradual, allowing us time to respond and adapt.
Recently, the software sector has seen a downturn as investors worry about the lack of moats in the backend systems of companies like Monday, Salesforce, Asana, making them easily replicable. Citrini and others believe that AI programming heralds the end of SaaS companies: one, products become homogenized, with zero profits, and two, jobs disappear.
But everyone overlooks one thing: the current state of these software products is simply terrible.
I'm qualified to say this because I've spent hundreds of thousands of dollars on Salesforce and Monday. Indeed, AI can enable competitors to replicate these products, but more importantly, AI can enable competitors to build better products. Stock price declines are not surprising: an industry relying on long-term lock-ins, lacking competitiveness, and filled with low-quality legacy incumbents is finally facing competition again.
From a broader perspective, almost all existing software is garbage, which is an undeniable fact. Every tool I've paid for is riddled with bugs; some software is so bad that I can't even pay for it (I've been unable to use Citibank's online transfer for the past three years); most web apps can't even get mobile and desktop responsiveness right; not a single product can fully deliver what you want. Silicon Valley darlings like Stripe and Linear only garner massive followings because they are not as disgustingly unusable as their competitors. If you ask a seasoned engineer, "Show me a truly perfect piece of software," all you'll get is prolonged silence and blank stares.
Here lies a profound truth: even as we approach a "software singularity," the human demand for software labor is nearly infinite. It's well known that the final few percentage points of perfection often require the most work. By this standard, almost every software product has at least a 100x improvement in complexity and features before reaching demand saturation.
I believe that most commentators who claim that the software industry is on the brink of extinction lack an intuitive understanding of software development. The software industry has been around for 50 years, and despite tremendous progress, it is always in a state of "not enough." As a programmer in 2020, my productivity matches that of hundreds of people in 1970, which is incredibly impressive leverage. However, there is still significant room for improvement. People underestimate the "Jevons Paradox": Efficiency improvements often lead to explosive growth in overall demand.
This does not mean that software engineering is an invincible job, but the industry's ability to absorb labor and its inertia far exceed imagination. The saturation process will be very slow, giving us enough time to adapt.
Of course, labor reallocation is inevitable, such as in the driving sector. As Citrini pointed out, many white-collar jobs will experience disruptions. For positions like real estate brokers that have long lost tangible value and rely solely on momentum for income, AI may be the final straw.
But our lifesaver lies in the fact that the United States has almost infinite potential and demand for reindustrialization. You may have heard of "reshoring," but it goes far beyond that. We have essentially lost the ability to manufacture the core building blocks of modern life: batteries, motors, small-scale semiconductors—the entire electricity supply chain is almost entirely dependent on overseas sources. What if there is a military conflict? What's even worse, did you know that China produces 90% of the world's synthetic ammonia? Once the supply is cut off, we can't even produce fertilizer and will face famine.
As long as you look to the physical world, you will find endless job opportunities that will benefit the country, create employment, and build essential infrastructure, all of which can receive bipartisan political support.
We have seen the economic and political winds shifting in this direction—discussions on reshoring, deep tech, and "American vitality." My prediction is that when AI impacts the white-collar sector, the path of least political resistance will be to fund large-scale reindustrialization, absorbing labor through a "giant employment project." Fortunately, the physical world does not have a "singularity"; it is constrained by friction.
We will rebuild bridges and roads. People will find that seeing tangible labor results is more fulfilling than spinning in the digital abstract world. The Salesforce senior product manager who lost a $180,000 salary may find a new job at the "California Seawater Desalination Plant" to end the 25-year drought. These facilities not only need to be built but also pursued with excellence and require long-term maintenance. As long as we are willing, the "Jevons Paradox" also applies to the physical world.
The goal of large-scale industrial engineering is abundance. The United States will once again achieve self-sufficiency, enabling large-scale, low-cost production. Moving beyond material scarcity is crucial: in the long run, if we do indeed lose a significant portion of white-collar jobs to AI, we must be able to maintain a high quality of life for the public. And as AI drives profit margins to zero, consumer goods will become extremely affordable, automatically fulfilling this objective.
My view is that different sectors of the economy will "take off" at different speeds, and the transformation in almost all areas will be slower than Citrini anticipates. To be clear, I am extremely bullish on AI and foresee a day when my own labor will be obsolete. But this will take time, and time gives us the opportunity to devise sound strategies.
At this point, preventing the kind of market collapse Citrini imagines is actually not difficult. The U.S. government's performance during the pandemic has demonstrated its proactive and decisive crisis response. If necessary, massive stimulus policies will quickly intervene. Although I am somewhat displeased by its inefficiency, that is not the focus. The focus is on safeguarding material prosperity in people's lives—a universal well-being that gives legitimacy to a nation and upholds the social contract, rather than stubbornly adhering to past accounting metrics or economic dogma.
If we can maintain sharpness and responsiveness in this slow but sure technological transformation, we will eventually emerge unscathed.
Source: Original Post Link

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