Trump-Backed Thumzup Bets On DOGE Mining Through Dogehash Purchase

Thumzup Media Corp, which counts Donald Trump Jr. as a serious shareholder, is pivoting from digital advertising into industrial-scale Dogecoin mining by means of its all-stock acquisition of Dogehash Applied sciences.

In accordance with an announcement by the media firm, the deal will see Dogehash shareholders provide up 100% of their holdings in trade for 30.7 million Thumzup shares. This values the deal at round $153.8 million primarily based on the corporate’s closing value.

Along with Dogehash shareholders receiving Thumzup shares, the 2 firms will even merge into one entity and rebrand as Dogehash Applied sciences. This new firm will then listing on Nasdaq beneath the ticker “XDOG,” pending shareholder approval that’s anticipated in This fall of this 12 months.

The deal comes amid a powerful selloff of Thumzup inventory. Simply yesterday, the corporate’s shares plummeted greater than 41% to shut the buying and selling session off at $5.01, information from Google Finance exhibits. The promoting exercise continued in after-hours buying and selling, with the inventory value sliding one other 3% throughout this era.

Thumzup Media Corp share value (Supply: Google Finance)

That drop has pushed the inventory’s loss over the previous week to greater than 51%, whereas additionally extending its weekly losses to over 64%.

Dogehash And Thumzup Intention To Create Main Crypto Firm

Dogehash is an industrial-level crypto mining agency that focuses particularly on tokens operating on the Scrypt algorithm, which the corporate says delivers stronger mining power-to-revenue effectivity than Bitcoin mining. 

Particularly, the corporate mines Dogecoin (DOGE) and Litecoin (LTC), that are the 2 largest Scrypt-powered property, in line with CoinMarketCap.

Largest Scrypt property by market cap (Supply: CoinMarketCap)

DOGE leads the way in which with its market cap of greater than $32 billion, whereas LTC’s complete valuation stands at about $8.77 billion.

The corporate presently operates round 2,500 Scrypt ASIC (Utility-Particular Built-in Circuit) miners which might be housed in a knowledge heart in North America. There are plans to scale operations all through 2025 and into 2026. 

That information heart is powered by renewable vitality as properly, enabling Dogehash to attain “important Dogecoin and Litecoin block rewards with a low-cost, high-uptime footprint,” in line with the announcement by Thumzup.

With the brand new firm, Thumzup goals to “develop into the world’s main Dogecoin mining platform.” The agency additionally stated it should use the Dogecoin layer-2 blockchain known as DogeOS, enabling it to stake in decentralized finance (DeFi) merchandise, enabling it to spice up miner returns.

$TZUP and Dogehash intention to develop into the world’s main #Dogecoin mining platform and can leverage Dogecoin Layer-2 infrastructure by way of staking in DeFi merchandise throughout the DogeOS ecosystem to reinforce miner economics and amplify yield past base block rewards. 🚀…

— Thumzup Media Company (@thumz_up) August 19, 2025

The deal comes off the heels of Thumzup’s $50 million inventory providing “to increase its crypto methods.” A portion of this capital will probably be used “to purchase mining rigs and accumulate digital property,” the corporate stated.

Trump Household Grows Crypto Mining Empire

The Dogehash acquisition is the newest transfer within the Trump household’s increasing crypto empire, particularly within the mining sector. 

Earlier this 12 months, Eric Trump and Donald Jr. launched American Bitcoin in partnership with Hut 8, which has over 60,000 mining machines.

The Trump’s have a mixed 20% stake within the enterprise, whereas the remaining 80% will go to Hut 8.

Firstly of the month, that crypto mining firm purchased a fleet of 16,299 Antminer U3S21EXPH models from Bitmain, that are able to 14.02 exahashes per second (EH/s). The machines had been bought for roughly $314 million as a part of a deal that excluded any potential value will increase from the Trump administration’s sweeping tariffs and import duties. 

Trumps Enter Into Billion-Greenback Deal With ALT5 Sigma

The Trumps aren’t simply increasing their crypto empire by means of mining. Not too long ago, one other considered one of their ventures, World Liberty Monetary (WLF), struck a $1.5 billion cope with ALT5 Sigma to inject its WLFI token into the agency’s treasury. 

Nonetheless, studies lately began surfacing that the US Securities and Change Fee (SEC) launched a probe into enterprise capitalist Jon Isaac for allegedly inflating earnings and collaborating in insider share gross sales linked to ALT5’s treasury financing for WLF.

Hours after the studies emerged, ALT5 responded on X and denied that Isaac was ever president or an adviser to the corporate. It additionally pressured that it had no data of any ongoing SEC investigation into its actions.

ALT5 Sigma has been made conscious of studies within the press and on social media. For the report: Jon Isaac isn’t –– and by no means was –– the President of ALT5 Sigma and he isn’t an advisor to the corporate. The corporate has no data of any present investigation relating to its actions…

— ALTS (@ALT5_Sigma) August 19, 2025

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