Thumzup to Acquire Dogehash Technologies, Inc., a Leader in DOGE Digital Asset Mining
- Dogehash to become a publicly traded crypto mining company dedicated to utility-scale Dogecoin mining and digital assets treasury strategy
- Recent $50 million all common stock offering to provide capital for mining and related infrastructure expansion, digital asset accumulation, and digital asset treasury strategy
LOS ANGELES, Aug. 19, 2025 /PRNewswire/ -- Thumzup Media Corporation ("Thumzup" or the "Company") (NASDAQ:TZUP) and Dogehash Technologies, Inc. ("DogeHash") today jointly announced the entry into a series of agreements under which Thumzup will acquire Dogehash in an all-stock transaction. Dogehash is an industrial‑scale blockchain infrastructure company focused exclusively on mining Scrypt‑algorithm assets such as Dogecoin and Litecoin. The combined company aims to become the world's leading Dogecoin mining platform and will leverage Dogecoin Layer-2 infrastructure via staking in DeFi products within the DogeOS ecosystem to enhance miner economics and amplify yield beyond base block rewards.
DogeHash currently has an operating fleet of approximately 2,500 Scrypt ASIC miners in North America and has additional units expected to be placed in service later this year with the goal of materially increasing its production by year end and throughout 2026. The existing fleet of mining rigs includes units with best-in-class hash rate density and energy efficiency in the Scrypt mining industry.
Dogehash's mining operations are concentrated at a renewable-energy data center in North America, with secondary satellite sites now onboarding. The combined fleet is expected to deliver significant Dogecoin and Litecoin block rewards with a low-cost, high-uptime footprint. Detailed KPIs (performance metrics) will be reported periodically after the closing.
Dogecoin is among the most widely used cryptocurrencies thanks to fast block times, ultra-low transaction fees, and an inflationary but predictable issuance that resembles global fiat currency supply dynamics. It ranks among the largest cryptocurrencies by market capitalization and consistently records billions of dollars in daily trading volume. Built on a robust Layer-1, Dogecoin delivers fast, low-fee settlement for high-throughput transactions, a steady, non-halving issuance that supports stable miner economics, and Scrypt-based mining that typically delivers stronger power-to-revenue efficiency than Bitcoin mining alternatives.
Under the terms of the agreement, Dogehash shareholders will exchange 100% of their holdings for 30.7 million shares of Thumzup stock and the company will be renamed "Dogehash Technologies Holdings, Inc." and trade on the Nasdaq Stock Market under the new symbol "XDOG." Closing of the transaction is subject to various customary terms and conditions, including shareholder approval, expected in the fourth quarter of 2025. In July 2025, Thumzup completed a $50 million offering to expand its crypto strategies, a portion of which would be deployed to buy mining rigs and accumulate digital assets.
"This accelerates our evolution from a digital‑marketing platform into a diversified digital‑asset infrastructure and treasury company," said Robert Steele, Chief Executive Officer of Thumzup. "Dogehash brings world‑class mining expertise, low‑cost renewable power and access to cutting‑edge Scrypt miners. Our vision is not only to mine Dogecoin and Litecoin efficiently but also to explore utility‑driven use cases that leverage Dogecoin's fast settlement and low fees for everyday payments and rewards."
Parker Scott, Chief Executive Officer of Dogehash, added, "As mainstream interest in Dogecoin and decentralized technologies continues to expand, we believe we are ahead of the curve, having already built a platform and utility-scale Dogecoin mining operation. Unlike many companies that simply used their cash to buy cryptocurrency, we have invested in mining infrastructure. By owning and operating our own fleet of ASICs, we generate revenue directly from production, creating an ongoing, sustainable source of Dogecoin that fuels organic accumulation for years to come."
About Thumzup®
Thumzup Media Corporation is pioneering a new era of digital marketing and financial innovation. In parallel with the growth of its AdTech platform, Thumzup's Board of Directors has authorized the company to strategically expand its treasury strategy beyond Bitcoin to include leading cryptocurrencies, such as Dogecoin, Litecoin, Solana, Ripple, Ether, and USD Coin, reinforcing the Company's commitment to financial agility and innovation.
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