Trump Family Expands Crypto Bets as Thumzup Pivots Into Dogecoin 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.
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 (DOGE) and litecoin (LTC) 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.
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