Trump-Backed Thumzup Bets On DOGE Mining Through Dogehash Purchase

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

In line 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 based mostly 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 below the ticker “XDOG,” pending shareholder approval that’s anticipated in This fall 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 reveals. 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 Purpose 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 greatest Scrypt-powered belongings, in line with CoinMarketCap.

Largest Scrypt belongings by market cap (Supply: CoinMarketCap)

DOGE leads the best way 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 (Software-Particular Built-in Circuit) miners which are 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 power as nicely, enabling Dogehash to realize “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 “turn into the world’s main Dogecoin mining platform.” The agency additionally stated it would use the Dogecoin layer-2 blockchain referred to 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 through 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 develop 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.

Initially of the month, that crypto mining firm purchased a fleet of 16,299 Antminer U3S21EXPH items from Bitmain, that are able to 14.02 exahashes per second (EH/s). The machines have 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 are usually not simply increasing their crypto empire by mining. Not too long ago, one other one in every of their ventures, World Liberty Monetary (WLF), struck a $1.5 billion take care of ALT5 Sigma to inject its WLFI token into the agency’s treasury. 

Nevertheless, stories lately began surfacing that the US Securities and Alternate 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 confused 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 shouldn’t be –– and by no means was –– the President of ALT5 Sigma and he isn’t an advisor to the corporate. The corporate has no information of any present investigation relating to its actions…

— ALTS (@ALT5_Sigma) August 19, 2025

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