CleanCore Solutions Adds Over 710 Million Dogecoin
NYSE-listed firm nears 1 billion DOGE goal as analysts warn of overexposure risks
CleanCore Solutions, a New York Stock Exchange-listed company, has added more than 710 million Dogecoin to its treasury, bringing it closer to its goal of holding 1 billion DOGE. The company reported over $20 million in unrealized gains from the investment and confirmed ongoing Dogecoin purchases supported by its partnership with Bitstamp by Robinhood.
At Dogecoin’s current price of $0.245, CleanCore’s holdings are worth roughly $173.9 million, according to CoinMarketCap. The company had earlier raised about $175 million through a private placement on September 5 to fund its crypto strategy.
Despite the growing DOGE stash, CleanCore emphasized that its focus goes beyond accumulation. The firm said it aims to strengthen its long-term market capitalization relative to its net asset value (mNAV) while maintaining transparency and building shareholder value. CEO Clayton Adams said the company’s approach aligns with the broader “House of Doge” vision, which seeks to expand Dogecoin’s real-world utility and global adoption.
CleanCore’s stock (ZONE) fell 8.44% to close at $2.06 on Tuesday, before slightly rebounding 1.46% after-hours to $2.09.
However, not all analysts are convinced by mNAV as a useful metric for crypto treasury firms. Greg Cipolaro, global head of research at NYDIG, argued that it overlooks companies with broader operations beyond simply holding crypto assets. Standard Chartered also warned that smaller firms could face serious overexposure risks as depressed mNAVs lead to potential industry consolidation.
The news follows the recent debut of the first U.S. Dogecoin exchange-traded fund, the REX-Osprey DOGE ETF (DOJE), which launched on September 18 with $6 million in first-day trading volume.
