Spirit Blockchain Capital, a blockchain-focused investment firm publicly traded on the Canadian Stock Exchange, has announced a yield generation strategy targeting its Dogecoin holdings.

the advertisement It follows Spirit's recent acquisition of Dogecoin Portfolio Holdings Corp, a blockchain startup focused on Dogecoin (Doug) and related assets. Dogecoin Portfolio Holdings operates independently from the meme coin's underlying blockchain operations but manages a portfolio aimed at creating value within the Dogecoin ecosystem.

Spirit Blockchain Capital's operations include cryptocurrency investments, blockchain consulting, cryptocurrency mining, and lending. The Dogecoin initiative forms part of the company's efforts to increase the utility and performance of its digital asset treasury.

The yield-generating strategy will provide shareholder value, improve operational efficiency, and encourage adoption of decentralized finance products, the company said in a press release on January 2.

The focus on DOGE is in line with the bullish outlook for the meme coin and the broader cryptocurrency market. The buildup of whales, growing real-world payment use cases, institutional interest, and technical forecasts point to a positive DOGE market. Soul aims to capitalize on these trends.

“By activating our yield generation strategy with Dogecoin, we aim to unleash a previously untapped revenue stream while simultaneously positioning ourselves as a market leader in yield generation not only for Dogecoin, but for the broader digital asset space within the public sector,” Lewis Bateman noted. CEO of Spirit Blockchain Capital.

In the future, Spirit plans to expand the return strategy to include other assets, including Bitcoin (Bitcoin), Ethereum (Ethereum), rope (USDT), and Solana (Sol).

This initiative is part of a long-term strategy to diversify revenue sources, increase shareholder value and develop the market for tokenized financial products. Canada-based Cypherbank It was rebranded as Sol Strategies In September 2024, adopting a similar strategy to Solana.

Dogecoin traded at around $0.33 and ranked as the seventh largest cryptocurrency by market capitalization with over $49 billion.