Trump-backed Thumzup Media buys Dogecoin mining firm DogeHash
Thumzup Media, backed by Donald Trump Jr., plans DogeHash acquisition with 2,500 Dogecoin rigs and 1,000 more on order.
Digital marketing and adtech company Thumzup Media announced an expansion of its crypto strategy in a shareholder letter. The company, with Donald Trump Jr. as one of its largest stakeholders, plans to acquire DogeHash’s Dogecoin mining fleet, totaling 3,500 rigs - 2,500 operational and 1,000 more expected by year’s end. Thumzup said the move will help boost revenue through crypto mining and diversify beyond its adtech business.
Thumzup first entered crypto in January 2025 with a $1 million Bitcoin purchase. That same month, it added another $1 million after positive shareholder feedback. The company’s board has also approved holding Dogecoin (DOGE), Litecoin (LTC), Solana (SOL), Ripple (XRP), Ether (ETH), and USD Coin (USDC), according to the letter.
In August, Thumzup Media raised $50 million by selling shares at $10 each, strengthening its finances and supporting its expansion into crypto and mining. CEO Robert Seele said the company plans to advance its digital asset strategy and expand Dogecoin mining operations. He noted that DOGE is a widely held cryptocurrency with a market capitalization of over $36 billion.
Thumzup, listed on Nasdaq as TZUP, has over $50 million in cash and awaits shareholder approval to acquire Dogecoin mining rigs. The letter highlighted the rapid growth of the crypto mining market, projected to reach $22.6 billion in value.
As mining becomes more competitive, companies are exploring treasury models to diversify revenue streams and adopt alternative strategies. This trend is exemplified by American Bitcoin, co-founded by Eric Trump and backed by Donald Trump Jr., began trading on Nasdaq under the ticker ABTC after merging with Gryphon Digital Mining. American Bitcoin focuses on both large-scale Bitcoin mining and holding Bitcoin as a treasury asset.
Thumzup, listed on Nasdaq as TZUP, has over $50 million in cash and awaits shareholder approval to acquire Dogecoin mining rigs. The letter highlighted the rapid growth of the crypto mining market, projected to reach $22.6 billion in value.
As mining becomes more competitive, companies are exploring treasury models to diversify revenue streams and adopt alternative strategies. This trend is exemplified by American Bitcoin, co-founded by Eric Trump and backed by Donald Trump Jr., began trading on Nasdaq under the ticker ABTC after merging with Gryphon Digital Mining. American Bitcoin focuses on both large-scale Bitcoin mining and holding Bitcoin as a treasury asset.
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