Thumzup Media Corporation (Nasdaq: TZUP) announced an all‑stock acquisition of Dogehash Technologies, a Scrypt‑based mining operator with an industrial‑scale fleet of roughly 4,000 ASIC miners. The deal is valued at 30.7 million shares of Thumzup stock, which translates to approximately $158 million based on the company’s market capitalization of $161 million at the time of the announcement.
The transaction follows a $50 million capital raise that Thumzup completed in August 2025, a move that was intended to shore up cash reserves after a year of losses. Thumzup’s Q3 2025 net income was a $10.45 million loss, and its FY 2024 revenue was only $741 k, underscoring the urgency of a new revenue stream. The acquisition is therefore a strategic pivot designed to replace the ad‑tech business with a cash‑flow‑positive mining operation.
Dogehash’s operations are already generating an estimated $2.86 million in annualized EBITDA from its April‑June 2025 performance, and the company plans to expand its fleet to exceed 4,000 miners by year‑end. The mining focus on Dogecoin and Litecoin—both Scrypt‑based and capable of merged mining—provides a potentially resilient revenue base, especially as electricity costs and ASIC efficiency continue to improve.
Beyond mining, Thumzup intends to leverage Dogehash’s data‑center infrastructure to accelerate its planned AI initiatives. CEO Robert Steele said the deal “positions the company for long‑term growth by combining high‑margin mining with scalable data‑center and AI capabilities.” The acquisition also precedes a rebranding to Datacentrex, Inc. (DTCX), signaling a broader shift toward digital infrastructure.
The transaction is still subject to shareholder and regulatory approval, with a projected closing in the fourth quarter of 2025. Management has indicated that the deal will be a catalyst for future expansion, but it also acknowledges the volatility of the cryptocurrency market and the need for disciplined cost management.
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