Z Squared, a company specializing in Dogecoin (DOGE) mining, is set to merge with biopharmaceutical firm Coeptis (COEP), with the deal expected to close in Q3 2025.
The merger will result in a new entity that continues Z Squared’s DOGE mining operations while spinning off Coeptis’ biopharmaceutical business, which will function separately. This merger will position the combined company as one of the largest publicly traded firms with a focus on mining Dogecoin, alongside other cryptocurrencies like Litecoin (LTC).
David Halabu, CEO of Z Squared, explained in an email to CoinDesk: “Going public gives us expanded access to capital markets, allowing us to grow our mining operations and explore additional strategic opportunities that will benefit shareholders.”
The merged company will operate with 9,000 DOGE mining machines based in the U.S., although it declined to share specific revenue projections. COEP stock has fallen 37.5% on the day.
Launched in 2013 as a spin-off from Bitcoin (BTC), Dogecoin uses a Proof-of-Work consensus mechanism, similar to Bitcoin, where miners compete to solve complex algorithms to validate transactions and earn rewards in the form of coins.
With a market capitalization of $27 billion, DOGE currently ranks as the eighth-largest cryptocurrency, trailing only Cardano (ADA) and Tron (TRX) in market size.
As Bitcoin mining has become increasingly competitive, many mining operations are diversifying their focus. Some, like BIT Mining (BTCM), have ventured into mining other cryptocurrencies such as Dogecoin and Litecoin to diversify their revenue streams. BIT Mining reported making three times the profit mining DOGE and LTC than Bitcoin since expanding into these assets in December.
Z Squared follows in the footsteps of other cryptocurrency miners that went public in recent years, including Core Scientific (CORZ) and TeraWulf (TERA), which employed similar strategies in 2022.
