- Thumzup agreed to acquire Dogehash in an all-stock deal to expand into industrial-scale Dogecoin mining.
- The combined company plans a Nasdaq rebrand to XDOG and aims to grow output from Dogehash’s 2,500 Scrypt miners.
Thumzup Media Corporation said it will acquire Dogehash Technologies in an all-stock transaction that advances the company’s expansion into Dogecoin mining and related digital-asset strategies.
The parties expect closing after shareholder approvals and a subsequent Nasdaq rebrand to Dogehash Technologies Holdings under the ticker XDOG in the fourth quarter of 2025.
Thumzup sets all-stock terms and plans Nasdaq ticker change to XDOG
Under the terms announced on August 19, Dogehash shareholders will exchange 100 percent of their holdings for 30.7 million Thumzup shares. Following completion, the combined company intends to trade on Nasdaq as “XDOG,” aligning the corporate identity with a focus on Dogecoin mining and digital-asset treasury operations.
The deal follows Thumzup’s July 2025 $50 million common-stock offering, which management said would fund mining infrastructure and the accumulation of digital assets.
The board has authorized expansion of the treasury beyond Bitcoin to include Dogecoin, Litecoin, Solana, Ripple, Ether and USD Coin, indicating a multi-asset allocation framework rather than a single-token approach.
Dogehash runs 2,500 Scrypt miners and concentrates operations at a renewable-powered site
Dogehash operates about 2,500 Scrypt-algorithm ASIC miners across North America, with additional units slated to come online later this year. Operations are concentrated at a renewable-energy data center with satellite locations being onboarded.
The companies say they plan to materially increase production into 2026, targeting higher uptime and lower unit power costs for Dogecoin and Litecoin block rewards. :
Thumzup and Dogehash also outlined plans to integrate Dogecoin Layer-2 infrastructure and staking within DeFi products tied to the DogeOS ecosystem to improve capital efficiency and enhance returns beyond base block rewards.
While the approach differs from typical Bitcoin mining economics, it reflects the merged-mining dynamics of Scrypt assets and the predictable issuance schedule of Dogecoin, which does not follow a halving cycle.
The company framed the acquisition as a pivot from its historic digital-marketing focus toward digital-asset infrastructure and treasury management. Management argues that owning and operating ASIC fleets provides direct production of Dogecoin rather than relying solely on secondary-market purchases.
The strategy mirrors trends among publicly traded miners that seek scale advantages through energy procurement, modern Scrypt hardware and diversified revenue streams that pair block rewards with treasury and on-chain yield activities.
Thumzup has drawn attention due to its shareholder base. Regulatory filings disclosed that Donald Trump Jr. held a 350,000-share stake this summer, a detail that has increased market interest in the company as it transitions toward crypto infrastructure.
Dogecoin (DOGE) is trading at $0.213096 USD, reflecting a decline of $0.00421, or −1.94 %, over the past 24 hours.
