Trump-Backed Thumzup Bets On DOGE Mining By way of Dogehash Purchase

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

In keeping with an announcement by the media firm, the deal will see Dogehash shareholders supply up 100% of their holdings in alternate 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 can even merge into one entity and rebrand as Dogehash Applied sciences. This new firm will then listing on Nasdaq below the ticker “XDOG,” pending shareholder approval that’s anticipated in This autumn of this 12 months.

The deal comes amid a robust 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 Goal 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 belongings, in accordance with CoinMarketCap.

Largest Scrypt belongings 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 at the moment operates round 2,500 Scrypt ASIC (Software-Particular Built-in Circuit) miners which can be housed in an information 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 accordance with the announcement by Thumzup.

With the brand new firm, Thumzup goals to “turn 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 goal to turn 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 might be used “to purchase mining rigs and accumulate digital belongings,” 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 about $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 should not simply increasing their crypto empire by means of mining. Not too long ago, one other one in all 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. 

Nevertheless, stories just lately began surfacing that the US Securities and Trade 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 stories emerged, ALT5 responded on X and denied that Isaac was ever president or an adviser to the corporate. It additionally careworn that it had no information of any ongoing SEC investigation into its actions.

ALT5 Sigma has been made conscious of stories 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’s not an advisor to the corporate. The corporate has no information of any present investigation concerning its actions…

— ALTS (@ALT5_Sigma) August 19, 2025

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