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    CleanCore Solutions Strengthens Dogecoin Asset Portfolio

    Ethan CarterBy No Comments3 Mins Read
    1759900588

    CleanCore Solutions, a company listed on the NYSE, has increased its Dogecoin holdings to over 710 million, moving closer to its objective of 1 billion Dogecoin.

    “CleanCore’s Treasury currently holds more than 710 million Dogecoin, reflecting over $20 million in unrealized gains, and has ample cash to continue acquiring Dogecoin, thanks to its partnership with Bitstamp by Robinhood,” CleanCore Solutions stated recently.

    Dogecoin (DOGE) is currently priced at 24.5 cents, making the value of the company’s holdings approximately $173.92 million, according to CoinMarketCap. CleanCore announced that it raised about $175 million before expenses through a private placement on September 5.

    CleanCore expresses concerns regarding mNAV

    The firm emphasized that its strategy extends beyond merely accumulating DOGE; it aims to strategically grow its treasury to enhance the long-term market cap in relation to net asset value (mNAV), while maintaining a focus on building shareholder value and scaling sustainably and transparently.

    CleanCore CEO Clayton Adams remarked that its strategy “aligns closely with the long-term vision of insiders and the House of Doge, focusing on expanding utility as a catalyst for greater adoption and sustained demand for Dogecoin as a global digital asset.”

    Shares of CleanCore Solutions Inc (ZONE) finished trading on Tuesday down 8.44% at $2.06 and experienced a slight increase of 1.46% in after-hours trading to $2.09.

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    ZONE finished the trading day on Tuesday down 8.44%. Source: Google Finance

    Not all industry participants view mNAV as significant for crypto treasury companies.

    Greg Cipolaro, the global head of research at NYDIG, noted last month that this metric overlooks firms with operations beyond merely buying and holding large quantities of cryptocurrency, and it fails to accurately reflect a company’s convertible debt.

    Smaller companies risk overexposure

    This caution follows Standard Chartered’s warning that smaller firms face increasing risks of overexposure as more digital asset treasuries experience declines in their mNAVs.