CleanCore Solutions is a company that produces water-based ozone cleaning systems. On Thursday, the company purchased $130 million worth of Dogecoin (DOGE), achieving half of its goal for a 1 billion DOGE reserve treasury.
On Thursday, CleanCore announced that its holdings of Dogecoin have surpassed 500 million. Just this Monday, the company had purchased 285.42 million DOGE and plans to accumulate a total of 1 billion DOGE within the next 30 days.
CleanCore's Chief Investment Officer Marco Margiotta stated, "Breaking the 500 million DOGE threshold fully demonstrates the speed and scale of ZONE's execution of the treasury strategy."
Margiotta also serves as the CEO of "House of Doge," a commercial entity under the Dogecoin Foundation.
Margiotta further stated that the company plans to establish Dogecoin as a top reserve asset, while supporting its broad applications in payments, tokenization, staking-like products, and global remittances.
CleanCore Solutions is the first publicly traded company to collaborate with the Dogecoin Foundation and "House of Doge" to jointly establish a DOGE reserve treasury.
On September 3, the company announced it would raise $175 million through a private placement to purchase DOGE to enrich the treasury. Following this news, CleanCore Solutions' stock price fell by 60%.
Just two days later, on September 5, the company successfully completed the private placement.
According to CoinGecko data, as DOGE has risen nearly 23% over the past week, CleanCore made a significant purchase.
CleanCore Solutions (ZONE) closed at $3.98 on Thursday, down 0.25%. However, according to Google Finance data, the stock's after-hours trading price rose by 11.81%, closing at $4.45.
ZONE has increased by 201.52% year-to-date, despite recent stock price fluctuations.
The company announced a 26% year-on-year increase in revenue for the second quarter, but the net profit margin decreased by 229% during the same period.
The Rex-Osprey DOGE ETF (DOJE), the first DOGE spot exchange-traded fund, was originally scheduled to launch on Thursday.
Bloomberg ETF analyst Eric Balchunas announced that the ETF's launch has been postponed to Friday.
Balchunas posted on Thursday on X (formerly Twitter) that DOJE has been delayed again, with expectations for it to launch next week, speculating it may list next Thursday.
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Original article: “CleanCore's DOGE treasury plan halfway completed, 1 billion DOGE target achieved 50%”
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