Trump-Backed Thumzup Acquires Dogehash for $153.8M, Targets Top Dogecoin Mining Platform

Thumzup Media, backed by Donald Trump Jr., is acquiring Dogehash Technologies in an all-stock merger valued at $153.8 million to launch what could become the world’s largest Dogecoin mining operation.

Thumzup Media Corporation, which counts Donald Trump Jr. among its major shareholders, has signed an all-stock agreement to acquire Dogehash Technologies for an estimated $153.8 million. As part of the arrangement, Dogehash shareholders are set to receive 30.7 million shares of Thumzup, following which the combined entity will operate under the name Dogehash Technologies Holdings, Inc. and list on Nasdaq under the ticker XDOG.

This strategic pivot shifts the company from digital marketing into crypto infrastructure, leveraging Dogehash’s existing fleet of approximately 2,500 Scrypt ASIC miners distributed across renewable-powered North American data centers. The combined firm aims to scale capacity rapidly through 2026, cementing its leadership in Dogecoin (DOGE) and Litecoin (LTC) mining.

Moreover, the acquisition incorporates integration with Dogecoin’s Layer‑2 infrastructure—DogeOS—to deploy DeFi staking, enhancing miner yields beyond traditional block rewards.

The deal follows closely on the heels of Thumzup’s $50 million stock offering in July, with plans to deploy proceeds toward mining operations and digital asset accumulation. A broader $250 million crypto treasury strategy is also underway, encompassing holdings across Bitcoin, Solana, XRP, DOGE, USDC, and more.

Following the merger announcement, Thumzup’s stock price dipped approximately 41%, though it remains buoyed with a year-to-date gain of 52%, illustrating both investor optimism and volatility.

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