Coeptis trades lab coats for Shiba mines: 9K Dogecoin rigs fuel biotech’s grand pivot
Today, Coeptis Therapeutics Holdings, Inc. (Nasdaq: COEP) and Z Squared Inc. disclosed that they have reached a binding merger agreement, whereby latter will be integrated as a fully owned subsidiary of the former. The transaction is structured in such a way that a newly established Coeptis subsidiary will merge into Z Squared, with shareholders of Z Squared receiving Coeptis equity in exchange for 9,000 Dogecoin mining machines based in the US upon closing.
The Boards of Directors of both companies have approved the merger, which remains subject to customary closing conditions, including regulatory approvals, continued listing on Nasdaq and shareholder approvals of both Coeptis’s and Z Squared’s. Once these conditions are met, the merger is anticipated to be finalized in the third quarter of 2025. Following completion, Coeptis will spin out its biopharmaceutical operations into a separate, standalone entity while retaining its technology division focused on digital asset mining.
The merged entity will focus on Dogecoin mining, capitalizing on Z Squared’s specialized knowledge in proof-of-work (PoW) processes. Dogecoin, with a market capitalization exceeding $20 billion, awards PoW rewards to owners of mining hardware that process and record transactions on its blockchain network. Coeptis is anticipated to be rebranded as Z Squared, Inc. and traded on the Nasdaq Capital Market.
Leadership of the surviving company will be assumed by Z Squared executives Michelle Burke (as COO) and David Halabu (as CEO). Current Coeptis president and CEO Dave Mehalick will step down from the Coeptis board upon closing. Halabu previously founded Group 10 Capital Management, and Burke most recently served as CEO of Minting Dome Inc., a digital asset mining firm.
Coeptis Therapeutics, along with its subsidiaries — GEAR Therapeutics, Coeptis Pharmaceuticals, SNAP Biosciences and Coeptis Technologies — is a biopharma and tech company focused on developing innovative cell therapy platforms aimed at treating cancer, autoimmune and infectious diseases. Its biopharmaceutical portfolio is supported by licenses from Deverra Therapeutics and the University of Pittsburgh, with multiple programs in preclinical and clinical stages.
Z Squared Inc. specializes in the mining of Dogecoin and other digital assets such as Litecoin, aiming to provide dedicated investor exposure to PoW-based cryptocurrencies. Both companies intend to file a registration statement with the U.S. Securities and Exchange Commission, which will include preliminary and definitive proxy statements/prospectuses, further detailing the terms of the merger and the planned biopharmaceutical spin-out.
Featured image is AI-generated
