CleanCore Solutions, a maker of aqueous ozone cleaning systems, has reached the halfway point of its 1 billion Dogecoin treasury target after buying $130 million in DOGE on Thursday.
In an announcement on Thursday, Cleancore said it has now crossed over 500 million Dogecoin (DOGE). It had just bought 285.42 million DOGE on Monday and had previously stated that it intends to purchase 1 billion tokens in total within the next 30 days.
CleanCore Solutions aims to hold 5% of DOGE’s circulating supply in the long term. Source: CleanCore Solutions
“Crossing the 500 million DOGE threshold demonstrates the speed and scale at which ZONE is executing its treasury strategy,” said CleanCore’s chief investment officer, Marco Margiotta.
Margiotta is also the CEO of House of Doge, the commercial arm of the Dogecoin Foundation.
Margiotta further added that the company intends to “establish Dogecoin as a premier reserve asset while supporting its broader utility across payments, tokenization, staking-like products, and global remittances.”
CleanCore Solutions was the first publicly traded company to establish a DOGE treasury in partnership with the Dogecoin Foundation and House of Doge.
On Sept. 3, the company announced it will raise $175 million via private placement, with the proceeds being used to buy DOGE for its treasury. The announcement caused CleanCore Solutions’ stock to crater by 60%.
The company successfully closed its private placement two days later on Sept. 5.
CleanCore DOGE buy comes as DOGE is up nearly 23% in the past seven days, according to CoinGecko.
CleanCore rallies 12% in after-hours trading
Shares of CleanCore Solutions (ZONE) ended Thursday’s trading session at $3.98, down 0.25%; however, the stock rallied 11.81% during the after-hours trading session to end at $4.45, according to Google Finance.
Despite the recent price swings, ZONE is up 201.52% year-to-date.
For the June quarter, the company announced its revenue was up 26% year-on-year, while its net profit margin was down 229% during the same period.
First DOGE ETF delayed
Rex-Osprey Doge ETF (DOJE), the first spot DOGE exchange-traded fund, was set to launch on Thursday.
Related: How high can DOGE price go when a Dogecoin ETF is approved?
However, Bloomberg ETF analyst Eric Balchunas announced that it has been delayed to Friday.
On a Thursday X post, Balchunas said DOJE has been further delayed and will now launch sometime next week, speculating a Thursday launch.
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