Mentioned:
A publicly traded company on the Nasdaq is making a bet on something new: Dogecoin mining.
What’s happening:
- Thumzup Media (NASDAQ: TZUP) is acquiring Dogecoin mining company Dogehash Technologies in a new all stock deal
By the numbers:
- Thumzup Media will issue 30.7M common shares to acquire 100% of Dogehash Technologies
- Dogehash Technologies currently operates 2,500 Scrypt ASIC miners that are located within North America data centres
Why it matters:
- Dogehash Technologies is aiming to become one of the first pure play publicly traded companies focused on mining Dogecoin and Litecoin at significant scale
Going deeper:
- Thumzup Media just recently successfully completed a $50M USD equity financing round, which was led by Dominari Securities
- Thumzup Media has also publicly stated they plan to use the new growth capital to begin accumulating digital assets, including Dogecoin and Ethereum
