Thumzup Media Corp (NASDAQ: TZUP) and Dogehash Technologies announced today that Thumzup will buy Dogehash in an all-stock deal. The two companies stated that the merger aims to establish a substantial Dogecoin mining operation.
The agreement covers Dogehash’s North American mining operations and calls for Dogehash shareholders to receive 30,700,000 shares of Thumzup stock.
Deal terms and timing
After closing, the combined firm will be renamed Dogehash Technologies Holdings, Inc. and trade under the ticker XDOG. The firms stated that the transaction is expected to close after shareholder votes and other customary conditions, with approval planned for the fourth quarter of 2025.
The companies also said Thumzup raised $50,000,000 in July 2025, money that will partly fund new mining rigs and digital holdings.
Under the pact, Dogehash owners will swap all their shares for Thumzup stock. The new name will reflect the shift to mining and infrastructure. The companies said the change of ticker to XDOG will take place after the deal clears.
Closing depends on standard steps such as regulatory filings and the vote of shareholders. Management projects the process to finish in Q4 2025 if all goes as planned.
Operations and capacity
Dogehash runs about 2,500 Scrypt ASIC miners across North America as of today. The firm said more units are scheduled to be added later this year and through 2026. That growth is meant to lift coin production over time.
The rigs are located mainly at a data centre powered by renewable energy. Dogehash also has smaller satellite sites coming online, and company officials said the fleet includes models with strong hash rate per watt, which helps keep costs down while running at high uptime.
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Strategy and technology
The combined company plans to focus on mining Dogecoin and Litecoin. It will also use Dogecoin Layer-2 tools and staking in DeFi within the DogeOS system to try to boost returns beyond the coins earned from blocks.
Management described this as a way to turn mined coins into higher yields through staking and other decentralised finance activities. The firms intend to share key performance metrics after the deal closes, though specific targets were not released in the announcement.
Why Dogecoin?
Dogecoin remains popular because it settles quickly and often costs very little to move. Its steady issuance, which does not include the big halving events seen in some other coins, is part of the appeal for miners who want predictable rewards.
The Scrypt mining algorithm used by Dogecoin and Litecoin also gives a different power-to-revenue profile than Bitcoin mining, a factor that this combined business plans to exploit.
Market reaction
After the news, Thumzup Media Corporation (NASDAQ: TZUP) stock price showed a sharp move. The latest snapshot shows the share price at $5.01, down 41.06% and down $3.49 on the day.
The market shift suggests investors are weighing the risks and rewards of a quick change in business focus.
What the leaders said?
Thumzup’s CEO, Robert Steele, framed the move as a big pivot for the company. He said Dogehash brings experienced miners, access to low-cost renewable power, and the right hardware to scale operations.
Parker Scott, Dogehash’s CEO, said the company built utility-scale mining rather than simply buying coins, and that owning miners produces a steady flow of Dogecoin that supports long-term accumulation.
The companies said they will provide detailed operational figures after the deal closes. That will include performance data and updates on new rigs as they enter service. Shareholder votes and customary closing steps remain on the schedule.
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