- Dogehash intends to transition to a publicly listed firm specializing in large-scale Dogecoin mining operations, bolstered by a strategic approach to managing digital asset holdings.
- A recent offering of common stock, totaling $50 million, is designated to fuel expansion in mining and related infrastructure, growth of digital asset reserves, and execution of a refined digital asset treasury strategy.
LOS ANGELES, Aug. 19, 2025 /PRNewswire/ — Thumzup Media Corporation (“Thumzup” or the “Company”) (Nasdaq: TZUP) and Dogehash Technologies, Inc. (“DogeHash”) today announced they’ve reached an agreement for Thumzup to acquire Dogehash via a complete stock transaction. Dogehash specializes in blockchain infrastructure, dedicated to mining Scrypt-algorithm based assets, including Dogecoin and Litecoin. The post-merger entity seeks to become a leading Dogecoin mining platform globally, enhancing miner profitability and boosting returns beyond standard block rewards through Dogecoin Layer-2 infrastructure staking within the DogeOS ecosystem.
Currently, DogeHash operates approximately 2,500 Scrypt ASIC miners throughout North America, with plans to add more units later this year. These additions are intended to significantly boost production both by the close of the year and throughout 2026. Their current mining setup incorporates units demonstrating best-in-class hash rate density and energy efficiency within the Scrypt mining space.
Dogehash’s mining activities are primarily located at a data center powered by renewable energy in North America, with supplementary locations now being integrated. This consolidated setup is anticipated to generate substantial Dogecoin and Litecoin block rewards, driven by operational efficiency and minimal downtime. Key performance indicators will be released periodically following the transaction’s completion.
Dogecoin stands as one of the more commonly utilized cryptocurrencies due to its swift block processing times, minimal transaction expenses, and its inflationary model that mirrors fiat currency dynamics. Consistently ranking among the top cryptocurrencies by market capitalization, Dogecoin frequently records billions in daily trading volume. Built upon a sturdy Layer-1 infrastructure, Dogecoin offers fast and economical settlement for high-volume transactions, consistent issuance that doesn’t halve to help maintain stable miner economics, and Scrypt-based mining, typically yielding greater power-to-revenue efficiency compared to Bitcoin mining methods.
According to the agreement, Dogehash shareholders will exchange all of their shares for 30.7 million shares of Thumzup stock. Following this, the company will rebrand as “Dogehash Technologies Holdings, Inc.” and trade on the Nasdaq Stock Market using the ticker “XDOG.” The transaction’s completion depends on typical conditions, including shareholder approval, expected during the fourth quarter of 2025. In July 2025, Thumzup finalized a $50 million offering intended to expand its crypto investments, allocating part of the funds to acquire mining hardware and increase its digital asset holdings.
“This transaction propels our evolution from a digital marketing platform into a versatile digital asset infrastructure and treasury management firm,” stated Robert Steele, CEO of Thumzup. “Dogehash brings a wealth of mining expertise, economical renewable energy sources, and state-of-the-art Scrypt mining hardware. Our goal extends beyond mining Dogecoin and Litecoin efficiently; we aim to explore utility-driven applications that capitalize on Dogecoin’s rapid settlement and low fees for everyday payments and rewards programs.”
Parker Scott, CEO of Dogehash, commented, “As Dogecoin and decentralized technology garner increasing mainstream attention, we believe we’re in a leading position, having already established a platform and a utility-scale Dogecoin mining operation. Unlike many companies that simply used their cash to buy cryptocurrency, we have invested in mining infrastructure. By owning and running our ASIC fleets, we derive revenue directly from production, creating an ongoing, sustainable source of Dogecoin accumulation for the future.”
About Thumzup®
Thumzup Media Corporation is pioneering innovation in digital marketing and finance. Alongside its AdTech platform’s expansion, Thumzup’s board has authorized a strategic treasury diversification, moving beyond Bitcoin to include top cryptocurrencies like Dogecoin, Litecoin, Solana, Ripple, Ether, and USD Coin, highlighting the company’s adaptability and forward-thinking approach.
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SOURCE Thumzup Media Corporation