Dogecoin News Today: Thumzup Acquires Dogehash in $153.8M All-Stock Deal to Create Major Dogecoin Mining Entity

Thumzup Media Corporation, a publicly traded firm with Donald Trump Jr. as a major shareholder, has announced an all-stock acquisition of Dogehash Technologies, a leading Dogecoin and Litecoin mining company [1]. The deal is valued at approximately $153.8 million and aims to create one of the world’s largest Dogecoin mining operations. The merged entity will operate under the new name Dogehash Technologies Holdings, Inc., and will trade on Nasdaq under the ticker symbol XDOG [2]. The transaction is subject to shareholder approval and is expected to be completed in Q4 2025 [2].

The acquisition is part of Thumzup’s strategic shift toward becoming a dominant player in the digital asset space. The company previously raised $50 million through a stock offering to fund the expansion of its crypto mining operations [2]. This capital will also support the acquisition of additional mining equipment and the development of a more robust digital asset treasury. Dogehash brings to the table its existing fleet of approximately 2,500 Scrypt ASIC miners, which operate in renewable-energy-powered data centers [2]. The company plans to expand its mining capacity further in 2025 and 2026.

Dogehash currently leverages blockchain infrastructure in North America to mine Dogecoin and Litecoin on an industrial scale [2]. The merged entity intends to build on this foundation by developing a Layer-2 infrastructure and exploring DeFi staking opportunities for Dogecoin. This approach could differentiate the new company from traditional mining ventures by generating additional revenue beyond block rewards [2]. CEO Robert Steele stated that the acquisition will transform Thumzup from a social media and marketing firm into a digital asset leader, with a focus on building a vertically integrated Dogecoin ecosystem [2].

Parker Scott, CEO of Dogehash, highlighted the growing interest in Dogecoin and the strategic advantages of owning a mining infrastructure. By operating their own ASIC miners, the company ensures a consistent and predictable supply of Dogecoin over time [2]. The move is in line with broader trends among publicly traded firms investing in digital assets, including Bitcoin and altcoins like XRP and Solana [2]. Thumzup’s stock had dropped 41% in the past 24 hours but remained up 52% year-to-date as of its latest market close [2].

Dogecoin’s appeal lies in its fast block times, low transaction fees, and predictable supply, making it an attractive option for both investors and users [2]. The Scrypt mining algorithm is more energy-efficient than Bitcoin’s SHA-256, which gives Dogecoin mining a more favorable energy-to-revenue ratio [2]. The merged entity aims to leverage these advantages while aligning with environmentally responsible practices through its green energy focus.

This acquisition marks a significant milestone in the evolution of Dogecoin mining and could influence the broader adoption of the cryptocurrency as a utility-driven asset. With the integration of Dogehash’s expertise and Thumzup’s corporate reach, the new company is well-positioned to expand Dogecoin’s use cases, including payment systems and reward mechanisms [2]. The shift from traditional media to a crypto-focused model reflects a broader industry movement toward building infrastructure around digital assets [1].

Source:

[1] title: Thumzup to Acquire Dogehash Technologies, Inc., a leader in DOGE digital asset mining

url: https://www.prnewswire.com/news-releases/thumzup-to-acquire-dogehash-technologies-inc-a-leader-in-doge-digital-asset-mining-302533129.html

[2] title: Trump Family-Backed Thumzup to Acquire Dogecoin Mining

url: https://finance.yahoo.com/news/trump-family-backed-thumzup-acquire-213204473.html