CMC News

#CleanCore Acquires 285M $DOGE Tokens in Billion-Token Treasury Strategy

CleanCore Solutions has secured over 285 million $DOGE tokens worth approximately $68 million as part of an institutional treasury strategy targeting 1 billion tokens. The NYSE-listed company raised $175 million through private placement to fund the digital asset accumulation.

The industrial cleaning technology firm partnered with House of Doge, the newly formed corporate arm of the Dogecoin Foundation, to establish what they term the "official Dogecoin treasury." Institutional investors including Pantera, GSR, FalconX, and MOZAYYX participated in the funding round.

Marco Margiotta serves as both CleanCore's Chief Investment Officer and House of Doge CEO, overseeing the treasury program. The company aims to complete its billion-token target within 30 days following the initial acquisition announcement.

CleanCore's stock surged 40% in after-hours trading following the announcement, with shares jumping from $3.51 to over $4.90. The company maintains a market capitalization of around $50 million, making the $DOGE holdings a significant portion of total enterprise value.

The treasury strategy mirrors the approach of companies like #MicroStrategy with $BTC, positioning digital assets as primary reserve holdings rather than speculative investments. CleanCore views $DOGE as a hedge against inflation while maintaining liquidity for operational needs. #cryptocurrency #treasury

Fiscal 2024 revenue grew 29% to $2.07 million, with the company recording its first U.S. quarter exceeding $1 million in sales. Recent contracts include a multi-million arrangement with a major logistics company spanning over 1,000 facilities nationwide.