Trump Jr.-backed Thumzup to acquire Dogehash to establish Dogecoin mining platform

Trump Jr.-backed Thumzup to acquire Dogehash to establish Dogecoin mining platform, the firm announced Tuesday in an all‑stock transaction that will position the merged company as a dominant player in the crypto‑mining arena.

Earlier this week, Thumzup disclosed its intention to enter the crypto‑mining market following a $50 million equity raise. The capital will finance rig acquisitions, digital asset buildup, and infrastructure expansion.

Robert Steele, CEO of Thumzup, stated that the objective is to move beyond social‑media marketing into a robust crypto umbrella, leveraging significant capital, mining capability, and treasury‑management expertise.

Under the transaction, Dogehash shareholders will receive 30.7 million Thumzup shares. The newly formed entity will be renamed “Dogehash Technologies Holdings, Inc.” and listed on the Nasdaq under the ticker “XDOG.”

“This deal accelerates our shift from a digital‑marketing platform to a diversified digital‑asset infrastructure and treasury company,” Steele said. “Dogehash brings world‑class mining know‑how, low‑cost renewable power, and cutting‑edge Scrypt ASICs.”

Dogehash operates roughly 2,500 Scrypt ASIC miners across North America, with further units slated for deployment later this year. Their operations reside in a renewable‑energy data centre, with satellite sites added in the pipeline.

Parker Scott, CEO of Dogehash, believes the acquisition positions the firm to harness growing Dogecoin adoption and blockchain development.

“Unlike many firms that merely buy cryptocurrency with cash, we invest in mining infrastructure,” Scott noted. “Owning and running our own ASIC fleet generates revenue through production, creating a sustainable source of Dogecoin that fuels organic accumulation for years.”

The deal is projected to close in Q4 2025, pending customary conditions and shareholder approval.

Previously, Thumzup secured board approval to hold up to $250 million in crypto assets, including Bitcoin, Ether, XRP, Solana, Dogecoin, Litecoin, and USD Coin.