Trump Jr.-Backed Digital Marketing Firm Pivots to Dogecoin Mining in $154 Million Deal
Thumzup Media Corporation, which counts Donald Trump Jr. as a major shareholder, will acquire industrial-scale crypto mining company Dogehash Technologies in a $153.8 million all-stock transaction that pivots the digital marketing firm into Dogecoin and Litecoin mining.
Under the agreement announced Tuesday, Dogehash shareholders will receive 30.7 million Thumzup shares, with the combined entity rebranding as Dogehash Technologies Holdings and trading on Nasdaq under ticker "XDOG" following expected shareholder approval in Q4 2025.
The deal positions the merged company as one of the first publicly listed, utility-scale Dogecoin mining platforms at a time when the meme-inspired cryptocurrency has gained mainstream adoption. Dogehash operates approximately 2,500 Scrypt ASIC miners in North America, primarily at a renewable energy data center, with plans to significantly expand capacity through 2026.
"This accelerates our evolution from a digital-marketing platform into a diversified digital-asset infrastructure and treasury company," said Robert Steele, Thumzup's CEO. The company completed a $50 million fundraising round in July specifically to fund crypto strategies, including mining equipment purchases and digital asset accumulation.
The transaction capitalizes on Dogecoin's unique position in the cryptocurrency ecosystem. Unlike Bitcoin's energy-intensive SHA-256 mining, Dogecoin uses the Scrypt algorithm alongside Litecoin, offering what the companies describe as superior power-to-revenue efficiency. Dogecoin's non-halving issuance schedule also provides more predictable miner economics compared to Bitcoin's periodic reward reductions, Thumbzup explained.
Dogehash plans to leverage Dogecoin's DogeOS layer-2 infrastructure to stake assets in DeFi products, aiming to generate additional returns beyond standard mining rewards. This strategy reflects growing sophistication in crypto mining operations that seek multiple revenue streams from digital asset holdings.
"Unlike many companies that simply used their cash to buy cryptocurrency, we have invested in mining infrastructure," said Parker Scott, Dogehash's CEO. "By owning and operating our own fleet of ASICs, we generate revenue directly from production, creating an ongoing, sustainable source of Dogecoin."
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