CleanCore is waiting for the SEC to authorize a private placement of shares.
Dogecoin offers “long-term stability and utility,” according to CleanCore CEO Clayton Adams.
The company CleanCore Solutions, Inc., listed on the NYSE American stock exchange, has reported that its dogecoin (DOGE) accumulation strategy for its treasury is already reflects unrealized gains of more than USD 20 million.
According to a press release issued on October 7, the company currently holds more than 710 million DOGEapproaching its initial goal of acquiring 1,000 million units of this cryptocurrency.
To finance this strategy, CleanCore closed a private placement of shares for approximately USD 175 million last September 5. The company has taken a capital deployment approach to building its position in DOGE, in an initiative that is supported by the Dogecoin Foundation and its corporate arm, House of Doge.
Clayton Adams, CEO of CleanCore, said the buildup of the digital asset is aligned with a long-term vision that seeks to expand utility as a catalyst for broader adoption. The executive highlighted that the goal is to support “the long-term stability and utility of DOGE”. This vision aims to position dogecoin not only as a currency for payments or trading, but also as a reserve asset.
In its statement, the company also reported which is working with the United States Securities and Exchange Commission (SEC) to obtain the corresponding authorization for the registration of the shares of its private placement. Adams noted that they are “actively monitoring interest” in their stock as they move through the regulatory process.
The treasury strategy is executed through a alliance with the Bitstamp exchangeusing the Bitstamp by Robinhood platform as an operations center. According to the company, this partnership provides a regulated and secure platform for transactions, improving transparency and protection of accumulated digital assets.
CleanCore, with its actions, is marking a significant step in the corporate adoption of digital assets – in this case a memecoin – beyond bitcoin (BTC). As CriptoNoticias has explained, This action is not without risks due to the high volatility of altcoins.
At the stock market level, it is still early to define whether the incorporation of DOGE is benefiting CleanCore or not. The following graph shows how its shares (listed with the ticker ZONE) have performed since April 2024. The volatility of recent months is linked to the arrival of DOGE:
In the coming months and years, if the DOGE accumulation strategy continues, an evaluation can be made to determine whether it was successful or not for CleanCore.