Z Squared, a leading player in the Dogecoin (DOGE) mining space, has announced plans to merge with biopharmaceutical company Coeptis (COEP), with the deal slated to close in Q3 2025.

The merger will allow the combined company to continue its focus on Dogecoin mining operations, while Coeptis’ pharmaceutical business will be separated and run independently. As a result, the new entity will become one of the largest publicly traded companies dedicated to mining Dogecoin and other cryptocurrencies such as Litecoin (LTC).

David Halabu, CEO of Z Squared, shared his enthusiasm in an email to CoinDesk, stating: “Going public will provide us with access to a broader range of capital markets, which will help fuel the expansion of our mining operations and unlock additional opportunities that will enhance value for our shareholders.”

The merger is expected to conclude by the third quarter of 2025, and the merged company will operate 9,000 DOGE mining machines located in the U.S. The company chose not to disclose specific revenue figures when asked by CoinDesk. Meanwhile, COEP stock has fallen by 37.5% on the day.

Dogecoin, which was created in 2013 as a playful offshoot of Bitcoin (BTC), operates under a Proof-of-Work consensus mechanism. This system allows miners to compete for rewards by solving complex algorithms to validate new blocks on the blockchain.

With a current market cap of $27 billion, DOGE holds the position of the eighth-largest cryptocurrency, ahead of Cardano (ADA) and Tron (TRX).

As the Bitcoin mining industry faces heightened competition, many miners are exploring new avenues of revenue. For example, BIT Mining (BTCM) revealed in December that it earned three times more profit from mining Dogecoin and Litecoin than from Bitcoin after diversifying into those cryptocurrencies.

Z Squared follows a trend set by other crypto mining firms that went public in recent years, including Core Scientific (CORZ) and TeraWulf (TERA), both of which employed similar strategies to make their way onto the stock market.