Nasdaq-listed company Shuttle bought 3,000 mining rigs and launched combined mining for DOGE and LTC

Shuttle Pharmaceutical Holdings, a Nasdaq-listed company (ticker: SHPH), announced on May 14 that it has completed its merger with United Dogecoin and confirmed receipt of a purchase order, granting the company an option to purchase up to 3,000 units of its next-generation ElphaPex Scrypt mining rigs for a merged-mining operation for DOGE and LTC.

Mining Rig Purchase Order: Confirmed Specifications and Deployment Timeline

Mining rig specifications (confirmed):

Mining rig model: ElphaPex next-generation Scrypt mining rig

Maximum purchase quantity: 3,000 units

Hash algorithm: Scrypt (supports merged mining of both DOGE and LTC)

Total hashrate after full deployment: approximately 43,200 GH/s

Deployment timeline (confirmed): After equipment delivery and site preparation are complete, the company plans to begin commissioning within 60 days after receiving the equipment. The company has not disclosed the specific expected equipment delivery date.

Merger Transaction Structure: Confirmed Completed Terms

The merger between SHPH and United Dogecoin was completed on May 6, 2026, and the 8-K was filed with the SEC on May 7. The confirmed completed terms include:

· Issuing 8,000 shares of Series B-1 convertible preferred stock to United Dogecoin shareholders (convertible into approximately 32,264,000 shares of SHPH common stock upon approval by the shareholders)

· Reserving up to 118,038,551 prepaid warrants (issuable only if operational milestones specified after closing are met and with approval from SHPH shareholders)

· Completing a $9.55 million PIPE private placement financing

Operations Strategy Confirmed by Management

Co-CEO and United Dogecoin founder Ryan Trasolini confirmed in an official statement that, after the merger, the company’s operational focus will be to deploy efficient next-generation ElphaPex mining rigs, mine DOGE and LTC at scale, and accumulate the mined digital assets to the company’s balance sheet in order to create long-term value for shareholders. The tokens mined by the company will be recorded on the balance sheet rather than sold immediately.

Frequently Asked Questions

How does the Scrypt algorithm enable merged mining for both DOGE and LTC?

Both DOGE and LTC use the Scrypt hash algorithm. This shared algorithm foundation allows the miner to mine one of the tokens while simultaneously and freely mining the other, without adding extra hashrate or electricity costs. As a result, ElphaPex Scrypt mining rigs can obtain block rewards from both the DOGE and LTC networks with a single hashrate input.

What confirmed prerequisites are there for the deployment plan of 3,000 mining rigs?

According to the announcement, the prerequisites for the start of the 60-day deployment timeline are: timely delivery of equipment and completion of site preparation (infrastructure, power, etc.). The company has not disclosed the specific expected equipment delivery date, so the actual start time depends on the milestones meeting the above two conditions.

How is SHPH’s mining strategy similar to the holding strategies of bitcoin mining companies?

Trasolini confirmed in the statement that the company will accumulate the mined DOGE and LTC tokens on its balance sheet (rather than selling), which is similar to strategies used by companies such as MicroStrategy that hold digital assets acquired through mining or purchases long term. SHPH has not yet disclosed specific target holdings or sale thresholds.