Thumzup Rebrands as Dogecoin Powerhouse, Eyes XDOG Listing

Thumzup Media Corporation has taken a strategic step in its evolution from a digital marketing firm to a diversified digital asset infrastructure and treasury company by announcing a $153.8 million all-stock acquisition of Dogehash Technologies, a leading Dogecoin mining operation. The deal involves the exchange of 30.7 million shares of Thumzup stock for 100% of Dogehash, with the newly combined entity planning to be rebranded as Dogehash Technologies Holdings, Inc., and listed on Nasdaq under the ticker XDOG. This move follows Thumzup's recent $50 million capital raise in August 2025, priced at $10 per share, which is expected to support its expansion into Dogecoin mining and digital asset accumulation.

The acquisition adds Dogehash’s industrial-scale mining infrastructure to Thumzup’s growing portfolio. Dogehash operates approximately 2,500 Scrypt ASIC miners in North America, with additional units scheduled for deployment later in 2025. The company plans to expand its fleet through the end of the year and into 2026, with a focus on renewable-energy-powered data centers. The combined company is expected to deliver significant Dogecoin and Litecoin block rewards, leveraging low-cost, high-uptime infrastructure to maximize efficiency. Detailed key performance indicators (KPIs) will be disclosed post-transaction closure, providing transparency on operational performance.

Thumzup's leadership, including CEO Robert Steele, has emphasized the company’s intent to leverage Dogecoin's fast settlement times and low transaction fees for practical use cases such as everyday payments and rewards. “Our vision is not only to mine Dogecoin and Litecoin efficiently but also to explore utility-driven use cases that leverage Dogecoin's fast settlement and low fees for everyday payments and rewards,” Steele stated. Parker Scott, CEO of Dogehash, added that the acquisition positions the company to become a leader in sustainable Dogecoin mining and infrastructure, with ongoing, organic accumulation of the cryptocurrency over the long term.

The strategic integration of Dogecoin’s Layer-2 protocol, DogeOS, is expected to enhance mining economics and amplify returns through decentralized finance (DeFi) products. This integration aims to provide competitive advantages within the Dogecoin ecosystem, with the potential to diversify income streams beyond traditional block rewards. The combined entity will also benefit from Thumzup’s broader treasury strategy, which includes Bitcoin, Dogecoin, Litecoin, Solana, Ripple, Ether, and USD Coin. The company’s capital allocation is guided by a focus on energy efficiency, fleet scalability, and infrastructure resilience.

Looking ahead, the transaction is subject to shareholder approval, expected in the fourth quarter of 2025. Once finalized, the company will pursue listing on Nasdaq under the ticker XDOG. The anticipated expansion of institutional access to Dogecoin through the launch of Dogecoin ETFs is seen as a critical catalyst for mainstream adoption and long-term value creation. The combined entity's ability to execute its growth and operational plans will depend on the efficient coordination of supply chains, energy contracts, and hardware upgrades.