Acquisition Agreement
Thumzup Media Corp., which counts Donald Trump Jr. as a major shareholder, announced an all-stock acquisition of Dogehash Technologies, Inc. under a definitive agreement dated August 19, 2025. The transaction values Dogehash Technologies at approximately $153.8 million based on the exchange of 30.7 million Thumzup shares at a closing price per share as of the announcement date. Upon closing, the combined entity will rebrand as Dogehash Technologies Holdings, Inc. and seek listing on the Nasdaq stock exchange under ticker symbol XDOG, pending shareholder and regulatory approvals.
Mining Operations
Dogehash Technologies operates over 2,500 Scrypt ASIC miners across multiple renewable energy-powered data centers in North America. The acquisition will add substantial hashing capacity dedicated to Dogecoin and Litecoin block rewards. Growth plans include deployment of additional renewable-powered mining rigs and expansion into emerging scrypt-based token networks. Management highlighted the cost efficiency advantages of renewable power in reducing operational expenses and environmental footprint.
Strategic Rationale
The acquisition represents a strategic pivot for Thumzup Media from digital marketing into industrial-scale cryptocurrency mining. Integration of Dogehash’s infrastructure assets provides direct exposure to Dogecoin and Litecoin block rewards at lower hash cost per token. Additionally, plans to leverage Dogecoin’s DogeOS layer-two protocol aim to enable staking within decentralized finance applications, potentially generating additional revenue streams beyond standard mining revenue.
Financial Considerations
Thumzup Media’s $50 million stock offering completed in July 2025 allocated capital for mining expansion and digital asset accumulation. Projections anticipate incremental revenues from mining operations and layer-two staking fees. Market response included a 41% decline in Thumzup stock price to $5.01 per share on the Nasdaq following the announcement, reflecting investor reassessment of mining sector volatility and integration risks. Financial advisors note that successful execution will depend on energy cost management and regulatory compliance in multiple jurisdictions.
Trump Family Crypto Ventures
The Trump family has previously invested in American Bitcoin Company with Hut 8 and established a $1.5 billion WLFI token treasury partnership with ALT5 Sigma via World Liberty Financial. The current acquisition further expands the family’s footprint in the cryptocurrency industry and signals confidence in industrial mining assets as a complement to token investments. Observers expect additional announcements on mining infrastructure partnerships ahead of the scheduled Nasdaq listing.
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