Donald Trump Jr.-Backed Thumzup Media To Acquire Dogecoin And Litecoin Mining Firm Dogehash For $154M
Thumzup Media Corp, which counts Donald Trump Jr. as a major shareholder, is pivoting from digital marketing into industrial-scale Dogecoin mining through its all-stock acquisition of Dogehash Technologies. According to an announcement by the media company, the deal will see Dogehash shareholders offer up 100% of their holdings in exchange for 30.7 million Thumzup shares. This values the deal at around $153.8 million based on the company’s closing price. In addition to Dogehash shareholders receiving Thumzup shares, the two companies will also merge into one entity and rebrand as Dogehash Technologies. This new company will then list on Nasdaq under the ticker “XDOG,” pending shareholder approval that is expected in Q4 of this year. The deal comes amid a strong selloff of Thumzup stock. Just yesterday, the company’s shares plummeted more than 41% to close the trading session off at $5.01, data from Google Finance shows. The selling activity continued in after...