United Dogecoin Inc., one of the largest Dogecoin mining companies globally, is being acquired by Shuttle Pharmaceuticals in a deal that will create the first publicly listed Dogecoin mining entity. The merger will take the industry's leading memecoin to Wall Street, with the new entity expected to deploy over 3,000 mining rigs and deliver 1.5% of global DOGE mining capacity at launch.
According to Shuttle Pharmaceuticals, the merger will be supported by an $11 million Private Investment in Public Equity (PIPE) financing round for accredited investors, closing on Monday, May 4. To complete the merger, Shuttle will issue 8,000 preferred shares to United Dogecoin equity holders. Following the merger, United Dogecoin will become a wholly owned subsidiary of Shuttle, and the combined entity will become the world's largest DOGE miner.
The new company intends to ramp up mining activities by purchasing 3,000 newest-generation ElphaPex mining rigs. The additional capacity, expected to be fully operational within 60 days, will deliver up to 43,200 GH/s, accounting for 1.5% of the memecoin's global mining capacity. United Dogecoin says that even at current low DOGE market prices, the tokens it mines will be at a discount, and it has access to low-cost renewable energy to keep operating costs low.
Ryan Trasolini, CEO of United Dogecoin, who will become co-CEO of the new entity, stated: “The completion of this transaction will give investors exposure to Dogecoin via our dual-pronged strategy of mining Dogecoin with highly efficient, cost-effective rigs and holding mined Dogecoin on our balance sheet to build long-term asset value. This strategy has been successful in Bitcoin mining, and we are ready to apply it to Dogecoin mining with a view to deliver long-term shareholder value.” Trasolini is an industry veteran who co-founded US Bitcoin Corp, which merged with Hut 8 in 2023. Andrew Kiguel, a co-founder of Hut 8, will join the board of the new company, commenting: “We believe that while the opportunity for incredible upside in new Bitcoin miners has passed, Dogecoin mining is in its infancy, and United Dogecoin is well positioned to be a leader in the space.”
The merger news broke amid a Dogecoin market rally. DOGE is up 9.5% in the past week, trading at $0.1078, and has gained 19.6% in the past month — the highest gain among the top 10 coins, outperforming BTC and ETH. According to CryptoRank, Dogecoin achieved a 15.6% gain in April, its highest monthly return in 2026, marking the first positive month of the year after three consecutive months of losses. Whale activity has also surged, with accumulations of $100,000 or more hitting 739 in a single day — the highest in six months. Wallets holding at least 100 million DOGE now hold a record 108.5 billion DOGE.
