Key Takeaways
- Thumzup is buying Dogehash Applied sciences to create a serious Dogecoin mining platform.
- The mixed firm will function in depth Scrypt ASIC mining operations powered by renewable vitality.
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Thumzup Media Company, a social media advertising and marketing and crypto asset technique agency backed by Donald Trump Jr., will acquire Dogehash Applied sciences in an all-stock transaction to construct a number one Dogecoin mining platform, the corporate announced Tuesday.
Final week, Thumzup announced its plans to be a part of the crypto mining sector after elevating $50 million in a typical inventory providing. The proceeds might be used to broaden its crypto methods, together with mining rig purchases and digital asset accumulation.
CEO Robert Steele stated he needed Thumzup to transfer past social media advertising and marketing and develop into a severe crypto participant with sturdy capital, mining operations, and treasury administration experience.
Below the settlement, shareholders of Dogehash, which operates industrial-scale Dogecoin and Litecoin mining amenities, will obtain 30.7 million shares of Thumzup inventory. The mixed firm might be renamed “Dogehash Applied sciences Holdings, Inc.” and commerce on the Nasdaq Inventory Market beneath the image “XDOG.”
“This accelerates our evolution from a digital‑advertising and marketing platform right into a diversified digital‑asset infrastructure and treasury firm,” stated Steele in a Tuesday assertion. “Dogehash brings world‑class mining experience, low‑price renewable energy, and entry to chopping‑edge Scrypt miners.”
Dogehash operates roughly 2,500 Scrypt ASIC miners in North America, with further models deliberate for deployment later this 12 months. The corporate’s mining operations are primarily based in a renewable-energy information middle, with secondary satellite tv for pc websites being added.
Commenting on the acquisition, Dogehash CEO Parker Scott believes the corporate is properly positioned to capitalize on the increasing adoption of Dogecoin and blockchain innovation.
“Not like many corporations that merely use their money to purchase cryptocurrency, now we have invested in mining infrastructure,” Scott famous. “By proudly owning and working our personal fleet of ASICs, we generate income straight from manufacturing, creating an ongoing, sustainable supply of Dogecoin that fuels natural accumulation for years to come.”
The deal between Thumzup and Dogehash is slated to be finalized within the fourth quarter of 2025, topic to customary circumstances and shareholder approval.
Final month, Thumzup obtained board approval to maintain up to $250 million in a wide range of crypto belongings, together with Bitcoin, Ether, XRP, Solana, Dogecoin, Litecoin, and USD Coin.
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