Robust Institutional Background

DogeBank was jointly established by Caret Digital, a U.S.-based company, and Bitfarms, a leading Canadian mining company, forming a solid foundation with diversified and powerful resource backing.

Caret Digital, a wholly-owned subsidiary of Vivopower, leverages its parent company’s strengths in solar farm assets to build extensive experience in digital currency mining. Vivopower has a broad presence in the sustainable energy sector, with businesses covering solar panels, electric vehicles, and battery systems, enjoying significant influence within the industry. Backed by Vivopower’s resources, Caret Digital continues to deepen its exploration of digital currency mining, providing DogeBank with strong technical and strategic support.

Bitfarms, operating large-scale cryptocurrency mining operations across North America, utilizes renewable energy sources, giving it a notable cost advantage—as low as $0.04 per kWh. In Q4 of 2024, Bitfarms achieved a 21% year-over-year revenue increase to $56 million, while its managed hashrate rose to 18.6 EH/s, a 186% increase, and energy efficiency improved to 19 W/TH, reflecting strong growth momentum. Furthermore, with its acquisition of Stronghold Digital Mining and the sale of its 200 MW Yguazu data center in Paraguay, Bitfarms reduced its 2025 capital expenditure needs by 20%, optimizing financial structure and boosting cash flow and operating margins. As of March 26, 2025, Bitfarms held 1,093 BTC and had $135 million in liquid assets, demonstrating sound financial health. These strengths significantly support DogeBank’s expansion in digital currency-related ventures, from capital investment and technology application to strategic planning—positioning DogeBank favorably in the competitive landscape.

In addition, DogeBank has secured support from a $50 million U.S.-compliant investment fund, while also attracting eight renowned institutional investors: Hut 8 Mining (Canada), Canaan (CAN) Technology, Marathon Patent, Riot Blockchain, HIVE Blockchain, Dialog Semiconductor (USA), Northern Data, and MiningCity. These institutions contributed a total initial investment of $150 million, which provides robust financial backing for business operations, technology R&D, market expansion, and risk management. With this solid foundation, DogeBank gains a significant early-stage advantage over many competitors, paving the way for long-term success.