Nasdaq-listed Thumzup Media Corporation (TZUP) has staked out an aggressive pivot from adtech into crypto infrastructure, unveiling a shareholder letter that details a $50 million all-common stock raise at $10 per share, a pending acquisition of DogeHash Technologies, and an explicit bid to become North America’s leading Dogecoin miner.
Regulatory filings show the DogeHash deal is structured as a change-of-control transaction. Under an August 19 Agreement and Plan of Merger, Thumzup will be renamed Dogehash Technologies Holdings, Inc.; at closing, it will issue 30.7 million restricted common shares to DogeHash shareholders, subject to shareholder approval under Nasdaq rules (including the 19.99% issuance threshold), Nasdaq’s own approval, a fairness opinion, and standard closing conditions. “The combined company aims to become the world’s leading Dogecoin mining platform,” the 8-K states. Media coverage has suggested the post-merger ticker could be “XDOG,” though that symbol has not been codified in the SEC filing.
On Thursday in Europe, Dogecoin was changing hands near $0.2198, a level that—if sustained—would anchor Thumzup’s own “current-price” scenario toward the lower end of its revenue illustration.
“With the capital we already have, we believe we will be able to grow that business and drive significant value for our shareholders,” CEO Robert Steele writes, closing a letter that—if investors approve the share issuance and Nasdaq clears the control changes—would recast Thumzup as a public-market vehicle for Dogecoin-first industrial mining.
