Z Squared, a firm that specializes in Dogecoin Mining (Doge), the thematic dog memory that was driven to conventional recognition by Elon Musk in 2021, is merging with the Biopharmaceutical Company Coeptis (COEP).
The fusion will allow the resulting company to maintain the mining operations of Doge in progress, while the pharmaceutical business of COEPTIS will be split and operated separately. As a result, the firm will become one of the largest companies that quote on a stock market with a main focus mining dogin and other cryptocurrencies such as Litecoin (LTC).
“IR public gives us broader access to capital markets to feed the growth of our mining operations and seek additional strategic opportunities that we believe will be accumulated for shareholders,” said the CEO of Z Squared, David Halabu, to COINDESK in an email.
The transaction is expected to close in the third quarter of 2025. The combined entity will have 9,000 Doge Mining machines based in the United States. The company refused to share income figures with Coindesk.
COEP has dropped 37.5% in the day.
Make Bitcoin (BTC) in 2013, Dogecoin follows a similar work testing mechanism, which means that miners compete to solve an algorithmic problem to produce the following block in the block chain; Who solves it first receives coins for their efforts.
With a market capitalization of $ 27 billion, Dege is currently the eighth largest cryptocurrency, just ahead of Ada de Cardano and Trx de Tron.
Since Bitcoin’s mining industry becomes extremely competitive in recent years, mining operations look for new paths for income, by dedicating resources for the purposes of AI, for example, or mining of other cryptocurrencies such as Dogecoin and Litecoin. The Bitcoin Bit Mining Mining firm (BTCM), for example, announced in December that it had earned three times more Doge and LTC mining money than BTC since it expanded to those cryptocurrencies.
Z Squared is not the first cryptographic miner to make public using this strategy. Other entities such as Core Scientific (Corz) and Terawulf (Tera) employed a similar play book in 2022.
Update (April 25, 18:40 UTC): The article was updated with an additional context on Bitcoin miners that were made public through mergers.
Update (April 25, 19:40 UTC): The article was updated with information on the performance of COEP actions.
