DOGE Mining Company Z Squared Plans to Go Public via Merger
The combination with biopharmaceutical firm Coeptis (COEP) is expected to take place in the third quarter of 2025.
Tom Carreras | Edited by Cheyenne Ligon Updated April 25, 2025, 7:38 pm Published April 25, 2025, 6:18 pm
What you should know:
- DOGE mining company Z Squared is merging with Coeptis, a publicly traded pharmaceutical company.
- After the merger, the new entity will become one of the largest publicly traded Dogecoin mining companies.
- The deal is expected to close in Q3 2025, with 9,000 DOGE mining machines in operation.
Z Squared, a company focused on mining dogecoin (DOGE), the meme coin popularized by Elon Musk in 2021, is teaming up with biopharmaceutical company Coeptis (COEP).
The merger will allow the new company to continue mining DOGE, while Coeptis' pharmaceutical business will be spun off and operated separately. The combined entity will thus become one of the largest publicly traded companies with a focus on mining dogecoin and other cryptocurrencies such as litecoin (LTC).
“Going public provides us with greater access to capital to grow our mining operations and pursue additional strategic opportunities that we believe will benefit shareholders,” Z Squared CEO David Halabou said in an email to CoinDesk.
The deal is expected to close in the third quarter of 2025. The combined company will have 9,000 DOGE mining machines in the U.S. The company declined to disclose revenue figures to CoinDesk.
COEP fell 37.5% in a day.
Forked from Bitcoin (BTC) in 2013, Dogecoin uses a similar Proof-of-Work consensus mechanism, meaning miners compete to solve an algorithmic puzzle to create the next block on the blockchain; whoever solves the puzzle first is rewarded with coins for their efforts.
With a market cap of $27 billion, DOGE currently ranks eighth among cryptocurrencies, behind only Cardano's ADA and Tron's TRX.
As the Bitcoin mining industry has become extremely competitive in recent years, companies are looking for new ways to generate revenue, such as dedicating resources to AI or mining other cryptocurrencies like dogecoin and litecoin. For example, BIT Mining (BTCM) announced in December that it had made three times more money mining DOGE and LTC than BTC since expanding its operations to those cryptocurrencies.
Z Squared is not the first cryptocurrency mining company to go public using this strategy. Other firms, such as Core Scientific (CORZ) and TeraWulf (TERA), have used a similar scheme in 2022.
UPDATE (April 25, 18:40 UTC): Article updated to include additional context about Bitcoin miners going public via mergers.
UPDATE (April 25, 19:40 UTC): Article
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