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Thumzup Announces All-Stock Purchase of Dogehash
Thumzup Media, a Nasdaq-listed company with public ties to the Trump family, has disclosed plans to acquire Dogehash Technologies in an all-stock transaction designed to create a global leader in Dogecoin mining. Under the agreement, Dogehash shareholders will exchange their holdings for 30.7 million shares of Thumzup. After closing, the combined entity will be rebranded as Dogehash Technologies Holdings and is expected to trade under the new ticker XDOG.
Deal Timing, Approvals and Ticker Change
The acquisition is anticipated to complete in the fourth quarter, subject to customary shareholder approval and regulatory clearances. Management has indicated that performance and operational metrics tied to the merger will be disclosed following the close.
Dogehash’s Mining Footprint and Growth Plans
Dogehash currently operates roughly 2,500 Scrypt ASIC miners across multiple North American sites, with a core data center powered by renewable energy and additional satellite locations to scale capacity. The miner fleet focuses on producing Dogecoin and Litecoin, two high-throughput, low-fee cryptocurrencies that remain popular for payments and trading. Dogehash has signaled plans to expand its mining hardware later this year and pursue a significant output ramp through 2026.
Infrastructure-First Strategy
Dogehash CEO Parker Scott emphasized the company’s capital allocation toward physical infrastructure rather than speculative holdings. By owning and operating an ASIC fleet, Dogehash generates revenue from production—creating a predictable, long-term revenue stream of mined Dogecoin and Litecoin rather than relying solely on spot market exposure.
How the Combined Firm Will Enhance Miner Economics
Thumzup and Dogehash say the merger will leverage Dogecoin Layer-2 infrastructure and integrate decentralized finance (DeFi) staking products through the DogeOS ecosystem. Executives claim these Layer-2 and staking mechanisms will improve mining economics and amplify yields beyond base block rewards, delivering enhanced returns to the combined operation’s token and mining revenue strategies. Detailed performance indicators are expected to be published after the merger closes.
From Marketing Platform to Digital Asset Infrastructure
Thumzup’s transformation into a broader digital asset infrastructure company accelerated this year. CEO Robert Steele described the transaction as a key step in evolving the firm beyond its origins as a social-media marketing rewards platform into a diversified player in crypto infrastructure and mining.
Capital Backing and Asset Allocation
The acquisition follows a $50 million fundraising round Thumzup completed in July, intended in part to finance crypto strategies and additional mining rigs. The company’s board also authorized up to $250 million in digital asset holdings, listing Bitcoin, Dogecoin, Litecoin, Solana, XRP, Ether and USDC among potential allocations. Thumzup began building its crypto balance sheet earlier in the year, purchasing Bitcoin and currently holding 19.1 BTC.
Public Visibility and Notable Share Purchases
Thumzup gained added public attention when Donald Trump Jr., son of the sitting U.S. president, purchased 350,000 shares in July—an acquisition reported at an approximate value of $3.3 million at the time. That filing positioned members of the Trump family as visible supporters of Thumzup’s pivot into digital assets and mining.
What This Means for the Dogecoin Ecosystem
If the merger closes as planned, the new Dogehash Technologies Holdings (XDOG) could become one of the largest dedicated Dogecoin mining platforms globally, combining renewable-energy mining operations, Layer-2 DeFi staking integrations, and a public company structure designed to scale production and yield. For crypto investors and miners, the deal highlights continued institutional interest in application-specific integrated circuit (ASIC) mining, DeFi yield strategies, and Layer-2 solutions aimed at improving the economics of meme and utility-focused coins like Dogecoin.
Further updates and performance disclosures are expected after regulatory approvals and shareholder votes are completed in the coming months.
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