Thumzup Media Corporation, a firm where Donald Trump Jr. is a significant investor, is set to acquire Dogehash Technologies, a large-scale crypto mining operation. The deal, valued at $153.8 million, will be executed entirely through a stock transaction. This move marks a strategic shift for the digital marketing company, steering it towards the mining of Dogecoin and Litecoin.
According to the official announcement made on Tuesday, Dogehash stockholders will receive 30.7 million shares of Thumzup. Following shareholder approval, anticipated in the fourth quarter of 2025, the combined company will be rebranded as Dogehash Technologies Holdings. The new entity will then trade on the Nasdaq stock exchange under the ticker symbol “XDOG.”
This agreement positions the newly formed company as a pioneering publicly traded platform for Dogecoin mining at an industrial level. This comes at a time when the meme-inspired digital currency is becoming increasingly accepted by mainstream audiences. Dogehash currently operates around 2,500 Scrypt ASIC mining units in North America, primarily within a data center powered by renewable energy sources. Plans are in place to significantly increase mining capacity through 2026.
“This acquisition significantly accelerates our company’s transformation from a digital marketing platform into a diversified digital asset infrastructure and treasury entity,” stated Robert Steele, the CEO of Thumzup. The company recently finalized a $50 million fundraising effort in July, specifically earmarked for funding cryptocurrency-related initiatives, including the purchase of mining hardware and the accumulation of digital assets.
The transaction leverages Dogecoin’s distinct position within the cryptocurrency landscape. Unlike Bitcoin, which uses the energy-intensive SHA-256 algorithm, Dogecoin utilizes the Scrypt algorithm in conjunction with Litecoin. This, according to the companies, results in a more favorable power-to-revenue ratio. Thumbzup also highlighted that Dogecoin’s issuance schedule, which doesn’t involve halving, provides miners with a more predictable economic outlook compared to Bitcoin’s periodic reward reductions.
Dogehash intends to utilize Dogecoin’s DogeOS layer-2 framework to stake digital assets in Decentralized Finance (DeFi) products. This strategy aims to generate additional income streams beyond the standard mining rewards. This approach demonstrates a growing level of sophistication within the crypto mining industry, with companies seeking multiple avenues for generating revenue from their digital asset holdings.
“Unlike numerous companies that simply allocated capital to purchase cryptocurrency, we have invested in the necessary mining infrastructure,” said Parker Scott, the CEO of Dogehash. “By directly owning and operating our fleet of ASIC miners, we generate revenue directly from the mining process, establishing a continuous and sustainable source of Dogecoin.”