Thumzup Media slumps after striking deal for Dogehash Technologies

Datacentrex

19/08/2025 16:56

** Digital asset hoarder Thumzup Media's TZUP.O shares plunge as much as 58.8% to $3.50, their lowest since March

** Stock last down 44.8% at $4.69

** TZUP will buy crypto mining company Dogehash Technologies in an all-stock transaction

** Dogehash shareholders will exchange 100% of their holdings for 30.7 million shares of TZUP stock

** TZUP has 16.3 million outstanding shares - LSEG data

** TZUP recently raised $50 million to expand its crypto strategies, a portion of which would be deployed to buy mining rigs

** Combined company will be renamed "Dogehash Technologies" and trade on the Nasdaq under the new symbol "XDOG"

** As of last close, TZUP stock up 147.8% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)

 ((ArasuKannagi.Basil@thomsonreuters.com))