Key highlights:
- Thumzup Media, backed by Donald Trump Jr., is acquiring Dogehash Technologies in a $153.8 million all-stock transaction.
- The merged entity will rebrand as Dogehash Technologies Holdings and trade on Nasdaq under the ticker XDOG.
- The move marks a significant shift toward crypto mining, especially in Dogecoin and Litecoin, with plans for DeFi integration via DogeOS.
A strategic pivot into mining
Thumzup Media (TZUP), an online marketing firm pivoting into cryptocurrency, announced its acquisition of Dogehash Technologies, Inc., a North America-based Dogecoin and Litecoin mining company. The all-stock deal, valued at $153.8 million based on Thumzup’s recent closing share price, underscores the Trump family’s expanding footprint in the digital asset space.
Dogehash shareholders will receive 30.7 million shares of Thumzup stock, and the combined company will be renamed Dogehash Technologies Holdings, Inc. The entity aims to begin trading on Nasdaq under the new ticker XDOG, pending shareholder approval later this year.
Founded in 2020, Thumzup initially built its business around paying social media users to promote brands. It has recently adopted a crypto-focused corporate strategy, raising $50 million last month to fund mining operations and bolster its digital asset treasury with coins like Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), Litecoin (LTC), and XRP.
Dogecoin infrastructure and DeFi ambitions
Dogehash currently operates about 2,500 Scrypt ASIC miners across renewable-powered data centers in North America. The company distinguishes itself from other crypto firms by directly mining Litecoin and Dogecoin instead of merely holding assets, enabling lower operational costs and more stable exposure to mining rewards. Plans are underway to scale operations further in 2026.
According to Thumzup CEO Robert Steele, the company plans to build a vertically integrated ecosystem that combines renewable-powered mining infrastructure with utility-driven applications on Dogecoin’s DogeOS Layer 2. This includes staking in DeFi products to improve miner returns beyond basic block rewards.
The acquisition is the latest in a series of crypto ventures tied to the Trump family. Earlier this year, Donald Trump Jr. and Eric Trump launched American Bitcoin with Hut 8, a company that controls over 60,000 mining rigs. Separately, Trump-affiliated World Liberty Financial inked a $1.5 billion deal with ALT5 Sigma to back its WLFI token.
With this deal, Thumzup and Dogehash aim to become a leading force in Dogecoin mining, capitalizing on the growing trend of publicly traded firms leveraging crypto assets for treasury diversification and yield enhancement.
Source: https://coincodex.com/article/71757/trump-family-backed-thumzup-to-acquire-dogecoin-miner-dogehash-in-154m-deal/
