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By Sam Reynolds, AI Boost|Edited by Sheldon Reback
Aug 20, 2025, 7:41 a.m.
- Thumzup Media Corp., which has Donald Trump Jr. as a major shareholder, said it will buy Dogehash Technologies in an all-stock deal.
- The acquisition will result in a rebranded company, Dogehash Technologies Holdings, Inc., to be listed on Nasdaq under the ticker XDOG.
- Dogehash operates renewable-powered data centers and plans to expand its crypto mining operations, focusing on Dogecoin and Litecoin.
Thumzup Media Corp. (TZUP), which counts Donald Trump Jr. as a large shareholder, said it will acquire Dogehash Technologies, Inc. in an all-stock deal, pivoting from digital marketing into industrial-scale crypto mining
Under the agreement, Dogehash shareholders will receive 30.7 million Thumzup shares, according to a Tuesday release, valuing the transaction at $153.8 million, based on the shares’ closing price. The combined company will rebrand as Dogehash Technologies Holdings, Inc. and list on Nasdaq under the ticker XDOG, pending shareholder approval later this year.
STORY CONTINUES BELOW
Dogehash operates about 2,500 Scrypt ASIC miners across renewable-powered data centers in North America, with plans to scale up further in 2026. Unlike firms that pad their balance sheets by simply buying coins, Dogehash has invested in its own infrastructure, giving it direct exposure to dogecoin
and litecoin
block rewards at a lower cost base.
The deal comes on the heels of Thumzup’s $50 million stock offering in July, earmarked for mining expansion and digital asset accumulation. The company says it will also use Dogecoin’s DogeOS layer 2 to stake in DeFi products, aiming to boost miner returns beyond standard rewards.
This new deal adds to the Trump family’s expanding crypto empire. Eric Trump and Donald Jr. launched American Bitcoin earlier this year with Hut 8, which has over 60,000 miners.
Meanwhile, World Liberty Financial, another Trump-backed venture, struck a $1.5 billion deal with Nasdaq-listed ALT5 Sigma to inject its WLFI token into the firm’s treasury.
Thumzup stock fell 41% to $5.01 on Tuesday.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
Sam Reynolds is a senior reporter based in Asia. Sam was part of the CoinDesk team that won the 2023 Gerald Loeb award in the breaking news category for coverage of FTX’s collapse. Prior to CoinDesk, he was a reporter with Blockworks and a semiconductor analyst with IDC.
“AI Boost” indicates a generative text tool, typically an AI chatbot, contributed to the article. In each and every case, the article was edited, fact-checked and published by a human. Read more about CoinDesk’s AI Policy.
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