Dogecoin News Today: Thumzup Merges With Dogehash in $153.8M Stock Deal to Launch XDOG

Thumzup Media Corporation, a company backed by Donald Trump Jr., has announced an all-stock acquisition of Dogehash Technologies, a Scrypt-based cryptocurrency miner specializing in Dogecoin and Litecoin. The deal involves the issuance of 30.7 million shares to Dogehash shareholders and will result in the formation of a new Nasdaq-listed entity, Dogehash Technologies Holdings, Inc., which will trade under the ticker symbol “XDOG” [1][2]. The move marks a strategic shift for Thumzup, which previously operated in the digital marketing and social media space, toward a more direct involvement in the digital asset infrastructure sector [3][6].

Dogehash currently operates approximately 2,500 Scrypt ASIC mining machines across North America, with plans to expand further by the end of 2025 [2][8]. The company’s infrastructure is powered by low-cost renewable energy, which it says helps reduce operational costs and increase efficiency. Dogehash has chosen to build out physical mining assets rather than acquiring coins directly, believing that owning and operating a mining fleet provides a long-term competitive advantage [4].

Thumzup, which raised $50 million earlier this year through a secondary public offering, aims to use the proceeds to expand its digital asset holdings and acquire more mining hardware. The company has also authorized a broader $250 million growth plan that includes increasing its portfolio of high-liquidity tokens such as Dogecoin, USD Coin, and XRP [5][7]. The acquisition is expected to accelerate Thumzup’s transformation into a digital asset infrastructure firm, combining treasury management, mining operations, and payments innovation under a single platform [6].

The new entity, once the merger is finalized, will seek to become the leading Dogecoin mining platform. It plans to continue mining Litecoin alongside Dogecoin and explore new use cases leveraging the fast transaction speeds and low fees associated with the Dogecoin network [2][9]. The combined company brings together technical expertise and operational experience, aiming to improve efficiency and output across its mining operations [5].

The deal also underscores a growing trend among investors and companies to enter the crypto mining sector by focusing on specific algorithms and coin types. By acquiring Dogehash, Thumzup is positioning itself in the Scrypt mining space, a niche but increasingly strategic segment of the industry [3][7]. The transaction is expected to close in the fourth quarter of 2025, pending shareholder approval [1].

Source: [1] Trump Family Expands Crypto Bets as Thumzup Pivots Into ... (https://www.coindesk.com/business/2025/08/20/trump-family-expands-crypto-bets-as-thumzup-pivots-into-dogecoin-mining)

[2] Thumzup's $153.8M Deal to Transform DOGE Mining (https://coinpaper.com/10603/153-8-m-dogecoin-mining-boost-as-trump-linked-thumzup-acquires-dogehash)

[3] Thumzup to Merge with Dogecoin Miner Dogehash ... (https://coincentral.com/thumzup-to-merge-with-dogecoin-miner-dogehash-technologies-in-historic-deal/)

[4] The Case of Trump-Backed Thumzup's Strategic Pivot (https://www.ainvest.com/news/assessing-long-term-viability-dogecoin-infrastructure-investment-fragmented-crypto-market-case-trump-backed-thumzup-strategic-pivot-2508)

[5] Thumzup Issues 30.7M Shares in $250M Push With ... (https://www.fxleaders.com/news/2025/08/20/thumzup-issues-30-7m-shares-in-250m-push-with-dogehash-mining-deal/)

[6] Trump Jr.-Backed Thumzup to Acquire Dogecoin Mining ... (https://www.mexc.co/en-IN/news/trump-jr-backed-thumzup-to-acquire-dogecoin-mining-company/67635)

[7] Dogecoin Mining Gets Major Boost as Thumzup Acquires ... (https://thecryptobasic.com/2025/08/20/dogecoin-mining-gets-major-boost-as-thumzup-acquires-dogehash-in-50m-stock-deal/)

[8] Thumzup to acquire Dogehash in all-stock deal (https://www.cryptopolitan.com/thumzup-to-acquire-dogehash-in-stock-deal/)

[9] Linked Thumzup Expands Into Dogecoin, Litecoin Mining ... (https://www.benzinga.com/crypto/cryptocurrency/25/08/47214900/trump-jr-linked-thumzup-expands-into-dogecoin-litecoin-mining-with-dogehash-deal)