Dogecoin News Today: Thumzup to Merge With Dogehash in All-Stock Deal to Create XDOG Mining Entity

Thumzup Media Corporation, a digital-asset treasury company linked to Donald Trump Jr., is set to acquire Dogehash Technologies, a Dogecoin and Litecoin mining firm, in an all-stock deal. Under the agreement, Dogehash shareholders will exchange their holdings for 30.7 million shares of Thumzup, forming a new entity called Dogehash Technologies Holdings, Inc. The merged company plans to trade on the Nasdaq under the ticker symbol “XDOG” in the fourth quarter of 2025 [1]. Dogehash currently operates approximately 2,500 Scrypt ASIC miners in North America and is expanding its operations through 2026, with a focus on renewable-energy-powered data centers [2].

The acquisition follows Thumzup’s $50 million all-stock offering in July, which was intended to fund further expansion in mining infrastructure and digital asset accumulation. Robert Steele, CEO of Thumzup, stated that the deal accelerates the company’s transformation from a digital-marketing platform into a diversified digital-asset infrastructure and treasury company. He highlighted Dogehash’s expertise in mining, low-cost operations, and access to advanced Scrypt technology as key strategic advantages [3].

Dogehash CEO Parker Scott emphasized the long-term focus on utility-scale mining, distinguishing the company from others that merely purchase cryptocurrency with available capital. By owning and operating its own ASIC fleet, the company aims to generate ongoing revenue directly from production, creating a sustainable source of Dogecoin [4]. The partnership also plans to leverage Dogecoin’s Layer-2 staking infrastructure via the DogeOS ecosystem, potentially increasing returns beyond block rewards [2].

The combined entity is expected to become one of the largest dedicated Dogecoin mining companies, with a hybrid model focused on both digital-asset production and treasury accumulation. If approved by shareholders, the merger will create a more diversified and resilient business model, aligning with growing interest in Dogecoin and Litecoin markets [1].

The deal reflects a broader trend of politically connected and traditional finance-backed entities entering the crypto space. However, the market has shown skepticism. On July 5, 2025, Thumzup’s stock dropped 45% following the acquisition announcement, signaling concerns about the company’s valuation and future prospects [4]. The volatility underscores the challenges faced by crypto-related firms in building investor confidence, even with high-profile backing.

Thumzup and Dogehash must now demonstrate operational and financial viability in a sector known for rapid shifts and speculative activity. The expansion into mining represents a strategic shift, but the success of the merger will depend on execution, market conditions, and the continued demand for altcoins like Dogecoin and Litecoin.

Source:

[1] Trump Jr.-backed Thumzup crypto treasury company ... (https://www.theblock.co/post/367421/trump-jr-backed-thumzup-crypto-treasury-company-pursues-all-stock-deal-with-dogecoin-and-litecoin-miner)

[2] Thumzup to Acquire Dogehash Technologies, Inc., a ... (https://seekingalpha.com/pr/20204540-thumzup-to-acquire-dogehash-technologies-inc-a-leader-in-doge-digital-asset-mining)

[3] Thumzups $50m expansion fuels Dogecoin mining ... (https://crypto.news/thumzups-50m-expansion-fuels-dogecoin-mining-ambitions/)

[4] Trump Jr.'s crypto stock pick crashes 45% (https://www.thestreet.com/crypto/markets/trump-jr-s-crypto-stock-pick-crashes-45)