Dogecoin Gets $153.8 Million Boost With This Latest Acquisition

Dogecoin is getting a lift with news of a $153.8 million deal as Thumzup Media Corporation will acquire Dogehash Technologies with its shares, marking one of the most significant transactions in the Dogecoin ecosystem to date. With Thumzup’s digital-asset strategy and Dogehash’s large-scale mining operations, the two companies are setting the stage for a robust expansion. 

A $153.8 Million Deal To Build The Biggest Dogecoin Miner

The agreement between Thumzup Media and Dogehash Technologies comes with a clear goal: to build the world’s largest Dogecoin mining platform. The multi-million dollar all-stock deal will create a new company called Dogehash Technologies Holdings, Inc.. Once finalized, this new entity will trade on the Nasdaq exchange under the ticker XDOG.

Related Reading

Thumzup has strong skills in digital money and ways to grow it, while Dogehash has many years of experience running large mining operations. By joining forces, Thumzup and Dogehash could combine their skills and resources to grow much bigger than they could alone.

Through the merger, the company can now enter Nasdaq’s public markets, where new investors may step in to support Dogecoin. Backed by the million-dollar all-stock deal, the new entity could use Thumzup’s growth expertise and Dogehash’s mining strength to secure a leading position in the Dogecoin mining sector. As a result, Dogecoin, one of the most popular meme coins in the world, may see more mining activity.

Expanding Mining Power With A Green Energy Push

Dogehash Technologies currently operates approximately 2,500 Scrypt ASIC miner machines, which mine Dogecoin (DOGE) and Litecoin (LTC) daily across North America. But the company is not stopping there. Over the next two years, Dogehash plans to add renewable-energy-powered data centers to the mix, expanding its mining fleet through 2025 and 2026. 

Since electricity accounts for most of a miner’s expenses, this strategy could make Dogehash more competitive in the long run. Dogehash could increase its mining capacity by using cleaner energy while reducing its environmental footprint, an approach with the potential to make it one of the leaders in sustainable crypto mining, a growing concern in the digital asset industry.

Related Reading

Dogehash plans to roll out DogeOS, Dogecoin’s Layer-2 protocol, to make mining more efficient. DogeOS lets miners earn extra rewards through DeFi tools like staking and liquidity pools, on top of regular block rewards. For miners, that means more ways to boost returns; for the Dogecoin network, it means more substantial support and more activity.

These tools will provide Dogehash with numerous opportunities to expand its earnings and participate in various financial products associated with mining. The company will not only look for ways to increase its mining profits but also explore other revenue streams that can add to its strength. With these steps, Dogehash Technologies Holdings could extend beyond merely creating more coins and develop a more robust and reliable system that supports the Dogecoin community and provides users with long-term value.

Featured image from Dall.E, chart from TradingView.com