Thumzup Media Corp. (TZUP), where Donald Trump Jr. holds a significant equity stake, has announced its strategic shift from digital marketing to the burgeoning field of industrial-scale cryptocurrency mining through the acquisition of Dogehash Technologies, Inc.
The agreement stipulates that Dogehash’s existing stakeholders will receive 30.7 million shares of Thumzup stock. A press release issued on Tuesday indicates this all-stock transaction is valued at approximately $153.8 million, based on the closing price of Thumzup shares. Subject to shareholder approval anticipated later this year, the merged entity will be rebranded as Dogehash Technologies Holdings, Inc., and will trade on the Nasdaq exchange under the new ticker symbol XDOG.
Dogehash currently manages a fleet of roughly 2,500 Scrypt ASIC mining machines deployed across data centers in North America powered by renewable energy sources. The company plans to further expand its operations in 2026. Unlike some competitors that increase their digital asset holdings through direct purchases, Dogehash has prioritized investment in its own mining infrastructure. This strategy provides them with direct access to dogecoin and litecoin block rewards with a comparatively lower operational cost.
This acquisition follows Thumzup’s recent $50 million stock offering in July. These funds are earmarked for expansion in the mining sector and increasing holdings of digital assets. The company also intends to leverage Dogecoin’s DogeOS layer 2 to engage in DeFi staking protocols, with the aim of amplifying returns for miners beyond standard block rewards.
This deal further expands the Trump family’s ventures in the crypto space. Earlier in the year, Eric Trump and Donald Trump Jr. launched American Bitcoin in partnership with Hut 8, which boasts a fleet of over 60,000 miners.
In related news, World Liberty Financial, another venture backed by the Trump family, entered into a $1.5 billion agreement with Nasdaq-listed ALT5 Sigma. The agreement involves the integration of World Liberty Financial’s WLFI token into ALT5 Sigma’s treasury.
Thumzup’s stock experienced a 41% decline on Tuesday, closing at $5.01.