Shuttle Pharma Set to Become World's Largest Public Dogecoin Miner

Shuttle Pharmaceutical Holdings (SHPH) is poised to become the world's largest public Dogecoin miner after signing a definitive merger agreement to acquire United Dogecoin. This tiny biotech firm has seen its shares jump over 20% in pre-market trading as investors cheer the acquisition.

The deal will see Shuttle Pharma issue 8,000 shares of Series B-1 convertible preferred stock, which can convert into about 32.3 million common shares at $1.24 per share. This represents a 20% upside on Thursday's closing price.

United Dogecoin plans to deploy up to 3,000 next-generation ElphaPex mining rigs, which could be fully operational within 60 days of closing. This buildout is projected to deliver up to roughly 1.5% of the global Dogecoin network capacity.