Bit Origin Buys 40 Million Dogecoin As Part of Crypto Pivot

China-based pork processing company and Bitcoin miner Bit Origin has officially kicked off its crypto treasury initiative with its first acquisition of 40.5 million Dogecoin. 

In a statement on Monday, the company said the Dogecoin (DOGE) buy was the “first strategic acquisition” under its digital asset treasury initiative, supported by a share sale and debt offering that aimed to raise $500 million.

At an average price of $0.24 per coin, Bit Origin would have spent around $9.9 million on its recent Dogecoin acquisition. The token is currently…