Dogecoin News Today: Thumzup Acquires Dogehash in Stock Deal to Launch Nasdaq-Listed Dogecoin Mining Platform

Thumzup Media Corporation, a digital-asset treasury company with ties to Donald Trump Jr., has announced a definitive agreement to acquire Dogehash Technologies, a leading Dogecoin mining firm, in a stock-for-stock transaction [1]. The deal will see Dogehash shareholders exchange their entire holdings for 30.7 million shares of Thumzup, and the newly formed entity will be renamed Dogehash Technologies Holdings, Inc. [2]. This combined company will trade on the Nasdaq under the ticker symbol XDOG, marking the first publicly traded Dogecoin mining platform [3].

Dogehash currently operates approximately 2,500 Scrypt ASIC miners in North America, with plans to expand further ahead of year-end 2025 [4]. The company’s mining operations are based in a renewable-powered data center, providing strong hash rate efficiency and energy cost advantages [5]. Once the acquisition is finalized, the merged firm aims to scale Dogecoin and Litecoin mining output significantly, with production growth expected in 2025 and 2026 [6].

The strategic move is positioned to leverage Dogecoin’s Layer-2 staking capabilities and DeFi integration within the DogeOS ecosystem [7]. This infrastructure is intended to diversify revenue streams beyond block rewards and support real-world use cases such as fast settlements and low-cost transactions [8]. Robert Steele, CEO of Thumzup, stated that the acquisition accelerates the company’s shift from a digital-marketing platform to a digital-asset infrastructure and treasury company [9]. Parker Scott, CEO of Dogehash, emphasized that owning the mining infrastructure enables sustainable Dogecoin accumulation and long-term value creation.

A portion of the $50 million raised by Thumzup in a recent all-common stock offering will be allocated to expand mining infrastructure and accumulate digital assets [10]. The acquisition reflects a growing institutional interest in cryptocurrencies with strong community support and practical utility, particularly those offering lower transaction costs than major competitors [11]. The Nasdaq-listed structure is expected to attract both institutional and retail investors, enhancing the credibility and liquidity of the Dogecoin mining sector [12].

The transaction is subject to shareholder approval and is expected to close in the fourth quarter of 2025 [13]. Upon completion, the combined entity will focus on expanding its mining footprint and integrating advanced technologies to improve operational efficiency and miner economics [14].

Source:

[1] PR Newswire (https://www.prnewswire.com/news-releases/thumzup-to-acquire-dogehash-technologies-inc-a-leader-in-doge-digital-asset-mining-302533129.html)

[2] Nasdaq (https://www.nasdaq.com/articles/thumzup-buy-dogehash-technologies-all-stock-deal)

[3] Coinpaper (https://coinpaper.com/10603/153-8-m-dogecoin-mining-boost-as-trump-linked-thumzup-acquires-dogehash)

[4] Yahoo Finance (https://finance.yahoo.com/news/trump-family-backed-thumzup-acquire-213204473.html)

[5] Mitrade (https://www.mitrade.com/insights/news/live-news/article-3-1052720-20250820)

[6] Cryptofrontnews (https://cryptofrontnews.com/thumzup-acquires-dogehash-to-launch-nasdaq-traded-dogecoin-mining-platform/)

[7] The Crypto Basic (https://thecryptobasic.com/2025/08/20/dogecoin-mining-gets-major-boost-as-thumzup-acquires-dogehash-in-50m-stock-deal/)