Thumzup Acquires Dogehash, Sets Eyes on Utility-Scale Dogecoin Mining

TLDR:

• Thumzup completes all-stock deal to acquire Dogehash, adding 2,500 Scrypt ASIC miners for Dogecoin mining.
• Dogehash shareholders receive 30.7M Thumzup shares; new Nasdaq ticker XDOG confirmed for fourth quarter 2025.
• Mining operations focus on renewable energy sites in North America with additional rigs expected by year-end.
• Combined platform plans Dogecoin Layer-2 staking via DeFi to enhance miner returns beyond block rewards.

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Thumzup Media Corporation has announced plans to acquire Dogehash Technologies, marking a move into Dogecoin mining. The deal aims to merge Thumzup’s digital infrastructure with Dogehash’s industrial-scale mining operations. 

Shareholders will exchange their holdings for Thumzup stock, creating a new public entity. The combined company will operate under the Nasdaq ticker XDOG. This acquisition positions the firm to expand both mining capacity and digital asset strategies.

Thumzup Expands Into Dogecoin Mining

Thumzup’s acquisition of Dogehash brings 2,500 Scrypt ASIC miners under its management. 

Parker Scott, CEO of Dogehash, said the company generates revenue directly from mining operations. These miners are concentrated at a renewable-energy data center in North America. Additional rigs are expected to be deployed later this year to increase production.

The company intends to leverage Dogecoin Layer-2 infrastructure through DeFi staking. This approach aims to boost miner returns beyond standard block rewards. Dogecoin offers fast settlement, low fees, and predictable issuance patterns. 

The combination of renewable power and high-efficiency rigs could enhance operational economics for the new entity.

Dogehash has previously focused on utility-scale Dogecoin mining rather than direct cryptocurrency purchases. Its platform allows ongoing accumulation of digital assets through production. 

The firm’s operations emphasize sustainability with low-cost, high-uptime mining infrastructure. Performance metrics will be shared periodically after the deal closes.

Robert Steele, CEO of Thumzup, described the acquisition as a step toward diversifying digital-asset infrastructure. 

He noted the company will explore practical Dogecoin applications for payments and rewards. This merger signals a pivot from a marketing-focused platform to a mining and treasury-oriented model. Investors now await regulatory approvals and shareholder votes expected in the fourth quarter.

Dogehash and Thumzup Shareholders’ Structure

Under the all-stock agreement, Dogehash shareholders will receive 30.7 million shares of Thumzup. 

After closing, the combined company will be renamed Dogehash Technologies Holdings, Inc. Nasdaq will list the company under the symbol XDOG. The $50 million capital raised in July 2025 supports mining expansion and digital asset accumulation.

Thumzup plans to deploy part of this funding to purchase new mining rigs. The goal is to increase Dogecoin and Litecoin block rewards throughout 2026. 

Dogehash’s existing fleet includes units with top hash rate density and energy efficiency. This ensures the merged company can operate cost-effectively while maximizing yield.

The firms emphasized that the merger creates a publicly traded company solely dedicated to Scrypt mining. Thumzup will continue reporting KPIs to inform investors about mining performance. 

Combined operations also aim to explore utility-driven applications for digital assets. These measures may enhance transparency and provide ongoing insight into crypto production.

The acquisition is subject to standard closing conditions, including shareholder approval. Expected completion is in the fourth quarter of 2025. Both management teams highlighted operational readiness and strategic alignment. 

Dogehash’s industrial-scale infrastructure supports the company’s broader ambitions in digital assets.

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