CleanCore Solutions, a company building its treasury around Dogecoin (DOGE), reported a $13.4 million net loss for its fiscal first quarter ending Sept. 30, even as it increased its DOGE holdings. The firm’s shares slid to $0.43 on Thursday, marking their lowest level this year.
The stock drop comes amid a significant decline in Dogecoin’s price, which fell over 25% in the past three months, impacting the valuation of CleanCore’s cryptocurrency assets.
CleanCore’s Financial Performance and DOGE Holdings
In its Q1 earnings report, CleanCore confirmed revenue of $900,000, more than doubling the $400,000 recorded in the same quarter last year. However, the company recorded a net loss driven by one-time expenses tied to its treasury strategy transition.
CEO Clayton Adams attributed the quarterly loss to these transitional costs, stating, “Our financial results during the quarter reflect several one-time expenses related to our treasury strategy transaction.”
CleanCore also reiterated its goal to acquire 5% of Dogecoin’s circulating supply as part of its long-term treasury strategy.
Stock Performance and Market Impact
CleanCore’s stock has experienced a sharp decline since late August, when shares traded near $7 before the company shifted focus to becoming a Dogecoin treasury. The partnership with House of Doge was announced in September, aiming to formalize this strategy.
On Thursday, shares fell 7% to $0.43, their lowest price in 2025, according to Yahoo Finance.
DOGE Holdings Valuation
As of last month, CleanCore held approximately 710 million Dogecoin, valued at about $188 million at that time. The recent drop in DOGE’s price to roughly $0.16 has reduced the value of those holdings to nearly $123 million.
Funding and Strategic Moves
CleanCore confirmed it closed a $175 million private placement intended to support the formation of its official Dogecoin treasury strategy, in partnership with House of Doge.