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CleanCore’s $130M DOGE Purchase Boosts Treasury Holdings
CleanCore Solutions, known for its aqueous ozone cleaning systems, has announced a significant milestone in its ambitious plan to accumulate a $1 billion Dogecoin (DOGE) treasury. On Thursday, the company purchased an additional $130 million worth of DOGE, bringing its total holdings to over 500 million tokens. This follows a previous acquisition of 285.42 million DOGE on Monday, reflecting rapid execution of its treasury strategy.
Rapid Accumulation Highlights Treasury Strategy
Marco Margiotta, CleanCore’s Chief Investment Officer and CEO of House of Doge—the commercial arm of the Dogecoin Foundation—stated,
“Crossing the 500 million DOGE threshold demonstrates the speed and scale at which ZONE is executing its treasury strategy.”
Margiotta further emphasized the company’s goal to
“establish Dogecoin as a premier reserve asset while supporting its broader utility across payments, tokenization, staking-like products, and global remittances.”
Partnership with Dogecoin Foundation
CleanCore Solutions was the first publicly traded company to create a DOGE treasury, working closely with the Dogecoin Foundation and House of Doge. The company also announced a $175 million private placement on September 3, aimed at funding its DOGE purchases, though this announcement initially caused a sharp 60% drop in CleanCore’s stock price. The private placement was successfully closed two days later.
Market Response and Financial Performance
Despite price fluctuations, CleanCore’s shares (traded as ZONE) rallied nearly 12% in after-hours trading on Thursday, ending the session at $4.45. Year-to-date, the stock has surged over 200%. The company reported a 26% year-over-year revenue increase for the June quarter but also noted a significant decline in net profit margin.
Meanwhile, Dogecoin itself has gained nearly 23% over the past week, according to CoinGecko. In related news, the launch of the first spot DOGE ETF, the Rex-Osprey Doge ETF (DOJE), has been delayed.
