CleanCore Becomes First Public Firm With Dogecoin Treasury

CleanCore invests $69M in Dogecoin to become the first public firm with an official DOGE treasury backed by key advisors.

The move positions CleanCore as a leader in corporate crypto adoption but adds risks given Dogecoin’s volatile history and market swings.

Past DOGE treasury strategies by peers led to steep stock declines, making CleanCore’s bold entry both innovative and highly uncertain.

CleanCore Solutions has made a bold move by purchasing 285,420,000 Dogecoin worth $69 million for its corporate treasury. The announcement came on September 8 after the company closed its private investment in public equity (PIPE) financing that raised $175,000,420. This funding, collected through both cash and cryptocurrencies, will support treasury operations and general working capital.

Besides the capital raise, the firm confirmed that Dogecoin will serve as its primary reserve asset. Consequently, CleanCore became the first publicly traded company to integrate an official Dogecoin treasury sponsored by the Dogecoin Foundation and House of Doge. The foundation’s commercial arm, led by Marco Margiotta, will advise alongside 21Shares, while Margiotta joins CleanCore as Chief Investment Officer.

A Strategic Bet on Dogecoin

CleanCore CEO Clayton Adams stressed that this move provides investors with controlled and transparent exposure to Dogecoin. Adams further emphasized that the treasury move is in line with the company's objective to introduce digital assets into public markets in a way that is honest and long-term oriented.

CleanCore also verified compliance with listing criteria and obtained NYSE American clearance for the PIPE listing. Concerns regarding the oversight of digital assets were also addressed by the business, which reassured investors that its approach complies with legal requirements.

With assistance from a number of top law firms, the deal's advisors included Maxim Group LLC and Curvature Securities LLC as co-placement agents.

Industry Context and Market Impact

CleanCore is not alone in exploring Dogecoin treasuries. Spirit Blockchain Capital, Dogecoin Cash Inc., and Bit Origin have each launched DOGE-backed strategies in 2025. However, their stock performances tell a cautionary tale. Spirit Blockchain Capital is down 88% year-to-date, Dogecoin Cash has dropped 70%, and Bit Origin has fallen 64%.

Hence, CleanCore’s entry carries both promise and risk. The company seeks to position itself at the forefront of corporate crypto adoption, but history shows volatile results. Moreover, Dogecoin’s unpredictable price swings add further uncertainty for shareholders.

CleanCore’s Dogecoin treasury could reshape corporate crypto adoption, but investors must weigh potential innovation against historical underperformance.

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