Z Squared, a major player in the Dogecoin (DOGE) mining industry, is merging with Coeptis (COEP), a biopharmaceutical company, in a deal expected to close in the third quarter of 2025.
Following the merger, the new entity will continue Z Squared’s operations in Dogecoin mining, while Coeptis’ pharmaceutical division will be spun off and managed separately. This merger will make the combined company one of the largest publicly traded firms focused on mining Dogecoin and other cryptocurrencies such as Litecoin (LTC).
David Halabu, CEO of Z Squared, said in an email to CoinDesk: “The decision to go public will provide us with better access to capital markets, enabling us to expand our mining operations and capitalize on strategic opportunities that will create value for our shareholders.”
The merger is expected to finalize by Q3 2025. Once the deal is complete, the combined company will operate 9,000 DOGE mining machines based in the U.S., although it has not disclosed its revenue figures. Meanwhile, COEP’s stock has dropped 37.5% on the day.
Dogecoin, which was created in 2013 as a spin-off from Bitcoin (BTC), operates using a Proof-of-Work consensus mechanism, where miners solve complex algorithmic problems to secure new blocks on the blockchain and earn rewards in the form of DOGE.
With a market capitalization of $27 billion, DOGE is currently the eighth-largest cryptocurrency, just ahead of Cardano (ADA) and Tron (TRX).
As the Bitcoin mining industry becomes increasingly competitive, many mining operations are exploring new sources of revenue. For example, BIT Mining (BTCM) disclosed in December that it earned three times as much profit from mining Dogecoin and Litecoin as it did from Bitcoin after branching out into these digital assets.
Z Squared is following a path already tread by other crypto mining companies, such as Core Scientific (CORZ) and TeraWulf (TERA), both of which went public using similar strategies in 2022.
