Digital marketing company backed by Donald Trump Jr. shifts focus to Dogecoin mining, sealing a $154 million deal in the process.

In a significant move for the cryptocurrency industry, Thumzup Media Corporation has announced the acquisition of Dogehash Technologies in a deal valued at $153.8 million. The transaction, which is set to be completed in all-stock form, will see Dogehash shareholders receive 30.7 million Thumzup shares.

The acquisition marks a strategic move for both parties. For Thumzup, it represents a pivot into Dogecoin and Litecoin mining, while for Dogehash, it offers an opportunity to leverage Thumzup's resources and expand its operations.

Dogecoin, which uses the Scrypt algorithm alongside Litecoin, is known for its superior power-to-revenue efficiency compared to Bitcoin's SHA-256 mining. This efficiency, combined with Dogecoin's non-halving issuance schedule and unique position in the cryptocurrency ecosystem, has caught the attention of Thumzup.

The majority of Dogehash's miners are located at a renewable energy data center, and the company operates approximately 2,500 Scrypt ASIC miners in North America. By owning and operating their own fleet of ASICs, Dogehash creates an ongoing, sustainable source of Dogecoin.

The CEO of the rebranded company, which will trade on Nasdaq under the ticker "XDOG", will be Robert Steele, who currently holds the same position at Dogehash Technologies Holdings. Parker Scott, Dogehash's current CEO, stated that they have invested in mining infrastructure, generating revenue directly from production.

Dogehash also plans to leverage Dogecoin's DogeOS layer-2 infrastructure to stake assets in DeFi products. This strategy reflects growing sophistication in crypto mining operations that seek multiple revenue streams from digital asset holdings.

Thumzup completed a $50 million fundraising round in July to fund crypto strategies, including mining equipment purchases and digital asset accumulation. The funds raised will undoubtedly aid in the expansion of the combined entity's mining operations.

The agreement was announced on Tuesday, and Dogehash Technologies Holdings expects shareholder approval in Q4 2025. This acquisition is a testament to the growing interest in Dogecoin and the potential it holds in the cryptocurrency market.

Digital marketing company backed by Donald Trump Jr. shifts focus to Dogecoin mining, sealing a $154 million deal in the process.