CleanCore Solutions (ZONE.US), which focuses on cleaning products, announced on Thursday Eastern Time that as an important part of its "treasury reserve plan" launched several days ago, the company has now accumulated over 500 million Dogecoin (DOGE-USD). This marks halfway progress toward the company's goal of purchasing up to 1 billion of this meme token within 30 days. Boosted by the company's aggressive token purchasing moves, some investors are beginning to envision that the company will replicate MicroStrategy's cryptocurrency hoarding model—continuously increasing positions in a specific cryptocurrency to drive the company's stock price to follow the skyrocketing cryptocurrency toward a "super bull market trajectory." As of Thursday's after-hours trading session, the company's stock price surged over 20% at one point.

Earlier this month, CleanCore announced it was raising $175 million through private financing to establish a Dogecoin treasury, stating that over 80 investors have participated, with the deal receiving support from the Dogecoin Foundation and House of Doge. Subsequently, on September 8, the company disclosed it had purchased 285.4 million Dogecoin for approximately $68 million. Based on the current market price of $0.25 per Dogecoin, CleanCore's total Dogecoin holdings are worth approximately $125 million.

"Breaking through the 500 million DOGE threshold demonstrates the speed and scale of ZONE's execution of its cryptocurrency treasury strategy," said Marco Margiotta, CleanCore's Chief Investment Officer and CEO of House of Doge. "Our vision is to establish Dogecoin as a premier reserve asset while supporting its broader utility in fast payments, tokenization, staking-like product lines, and global remittances."

What is CleanCore? Why Did It Suddenly Start Buying Dogecoin?

CleanCore Solutions, Inc.'s core business involves pure water ozone cleaning products (for commercial/industrial/residential use), making it a relatively small cleantech company. Public information and financial report aggregation pages show its core description has consistently been "developing and producing cleaning products that generate pure water ozone."

Independent financial aggregation pages show CleanCore's fiscal 2025 revenue was only approximately $2.07 million, and it remains in a severe loss-making state, which is far from "large-cap" treasury companies like MicroStrategy—this also explains why its "coin-buying treasury" actions can generate high-leverage capital market effects on stock price/attention.

Recently partnering with House of Doge, executing an aggressive "Dogecoin treasury strategy," having purchased more than 500 million Dogecoin with a target of 1 billion within 30 days, to build a "DOGE reserve asset" narrative.

This "cryptocurrency treasury strategy" belongs to the same "treasury strategy" paradigm as Michael Saylor's MicroStrategy Bitcoin treasury strategy and BitMine's Ethereum treasury strategy: using the company's balance sheet to directly hold crypto assets to pursue valuation re-rating and asset appreciation.

MicroStrategy has even been dubbed by some financial commentators as the "most successful investment bank in human financial history," evolving from continuously struggling on the brink of bankruptcy to achieving a total market cap that once exceeded $100 billion, aided by investor euphoria driven by substantial Bitcoin holdings. The company indeed deserves this title.

The company's current total market cap far exceeds the market value of its Bitcoin holdings. It previously achieved "explosive stock price growth" by following Bitcoin's "super bull market" that broke $120,000 in 2024 due to holding large amounts of Bitcoin. Since Saylor began investing almost all company cash in Bitcoin to hedge inflation starting in 2020, MicroStrategy's stock price has risen approximately 2,350%. During the same period, Bitcoin prices increased about 700%, making MicroStrategy truly deserving of being "the most successful investment bank in human financial history."

For small-scale companies like CleanCore, the "treasury + ecosystem" story can achieve higher trading activity and potential valuation re-rating (early MicroStrategy experience provides proof). Additionally, if DOGE/ETH/BTC and other cryptocurrencies rise significantly, repricing of net assets and "coins per share" will amplify stock price elasticity, with MicroStrategy's stock performance since 2024 and "Bitcoin bull market premium" serving as key reference points.