CleanCore Solutions (ZONE) fully liquidated its cryptocurrency portfolio on July 20, selling 463 million DOGE tokens for $33.4 million. This sale is part of a major strategic pivot: the company is abandoning its Dogecoin treasury strategy to focus on artificial intelligence infrastructure, with plans for a 200 MW data center in Texas and a 40 MW facility in Minnesota, including a 10-year colocation agreement with Cerebras Systems. To fund the transition, the company raised $100 million through a follow-on offering that diluted shares outstanding by 122% to 502.1 million, pushing the stock to an all-time low of $0.1513. Meanwhile, an accounting issue was uncovered: a noncash transfer of 70 million DOGE had been omitted from financial statements, revealing a material weakness in internal controls. Dogecoin itself remains steady around $0.0917, unaffected by the massive sell-off.
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