Key Takeaways
- Thumzup is acquiring Dogehash Technologies to create a major Dogecoin mining platform.
- The combined company will operate extensive Scrypt ASIC mining operations powered by renewable energy.
Thumzup Media Corporation, a social media marketing and crypto asset strategy firm backed by Donald Trump Jr., will acquire Dogehash Technologies in an all-stock transaction to build a leading Dogecoin mining platform, the company announced Tuesday.
Last week, Thumzup announced its plans to join the crypto mining sector after raising $50 million in a common stock offering. The proceeds will be used to expand its crypto strategies, including mining rig purchases and digital asset accumulation.
CEO Robert Steele said he wanted Thumzup to move beyond social media marketing and become a serious crypto player with strong capital, mining operations, and treasury management expertise.
Under the agreement, shareholders of Dogehash, which operates industrial-scale Dogecoin and Litecoin mining facilities, will receive 30.7 million shares of Thumzup stock. The combined company will be renamed “Dogehash Technologies Holdings, Inc.” and trade on the Nasdaq Stock Market under the symbol “XDOG.”
Dogehash operates approximately 2,500 Scrypt ASIC miners in North America, with additional units planned for deployment later this year. The company’s mining operations are based in a renewable-energy data center, with secondary satellite sites being added.
Commenting on the acquisition, Dogehash CEO Parker Scott believes the company is well placed to capitalize on the expanding adoption of Dogecoin and blockchain innovation.
The deal between Thumzup and Dogehash is slated to be finalized in the fourth quarter of 2025, subject to customary conditions and shareholder approval.
Last month, Thumzup obtained board approval to hold up to $250 million in a variety of crypto assets, including Bitcoin, Ether, XRP, Solana, Dogecoin, Litecoin, and USD Coin.
Source: https://cryptobriefing.com/dogecoin-mining-platform-acquisition-news/
