Quick breakdown
- CleanCore Solutions has surpassed 500 million DOGE as part of its 1 billion Dogecoin treasury plan.
- ZONE stock surged nearly 12% in after-hours trading after news of the purchase, despite earlier volatility.
- The first Dogecoin ETF launch has been postponed, with a new date expected next week.
CleanCore hits 500 million DOGE milestone
CleanCore Solutions, a maker of aqueous ozone cleaning systems, has reached the halfway point of its ambitious plan to accumulate 1 billion Dogecoin (DOGE) within 30 days. The company revealed on Thursday that it purchased $130 million worth of the cryptocurrency, pushing its holdings past 500 million DOGE.
Just earlier in the week, CleanCore bought 285.42 million DOGE, part of its broader treasury program aimed at positioning Dogecoin as a reserve asset.
“Crossing the 500 million DOGE threshold demonstrates the speed and scale at which ZONE is executing its treasury strategy,”
said Marco Margiotta, CleanCore’s chief investment officer and CEO of House of Doge, the commercial arm of the Dogecoin Foundation.
Strategy to elevate Dogecoin’s role
Margiotta emphasized that the company’s treasury plan is not just about accumulation, but about expanding Dogecoin’s utility across payments, tokenization, staking-like products, and cross-border remittances.
CleanCore Solutions also holds the distinction of being the first publicly traded company to formally build a Dogecoin treasury, working in partnership with both the Dogecoin Foundation and House of Doge.
The firm secured $175 million through a private placement earlier this month to fund the DOGE purchases, though the announcement initially triggered a 60% plunge in its stock price. The placement successfully closed on September 5.
Stock market reaction and financials
CleanCore’s stock (ZONE) closed Thursday’s regular trading session at $3.98, down slightly by 0.25%. However, investor sentiment turned bullish after hours, with the stock climbing 11.81% to $4.45, according to Google Finance.
Despite market turbulence, ZONE remains up more than 200% year-to-date. In its June quarter report, the company posted a 26% revenue increase from a year earlier but recorded a steep 229% decline in net profit margin.
First Dogecoin ETF faces delays
Meanwhile, excitement around the Dogecoin ecosystem faced a setback as the Rex-Osprey Doge ETF (DOJE), the first spot Dogecoin exchange-traded fund, was delayed once again. Initially scheduled to launch on Thursday, Bloomberg ETF analyst Eric Balchunas confirmed the launch has now been pushed to next week, possibly Thursday.
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