Trump Jr.-Backed Thumzup Plans $154M Dogecoin Mining Acquisition

Thumzup Media Corporation, a company backed by President Trump and with Donald Trump Jr. as a major shareholder, is acquiring Dogehash Technologies in a $153.8 million all-stock deal that will pivot the firm from digital marketing into industrial-scale Dogecoin and Litecoin mining. The merged entity will rebrand as Dogehash Technologies Holdings and trade on Nasdaq under the ticker XDOG, pending shareholder approval expected in Q4 2025. Dogehash operates about 2,500 Scrypt ASIC miners primarily at renewable energy facilities in North America and plans to expand its mining capacity significantly through 2026. Thumzup CEO Robert Steele highlighted the move as a transformation into a diversified digital asset infrastructure and treasury company, leveraging Dogecoin's efficient Scrypt mining and exploring DeFi staking to generate additional returns. This acquisition follows Thumzup's $50 million fundraising round aimed at funding crypto strategies, reflecting a broader trend of companies building crypto treasuries and infrastructure. The deal positions the company as a major player in the growing Dogecoin mining sector, aiming to capitalize on the cryptocurrency's fast settlements, low fees, and rising mainstream adoption.