Thumzup Media Announces $103M Dogecoin Mining Expansion with 3,500 New Mining Rigs

Thumzup Media just dropped a crypto bombshell—launching a massive Dogecoin mining operation that's turning heads across both tech and finance circles.

The Hardware Play

Deploying 3,500 mining rigs specifically for Dogecoin isn't just a side project—it's a full-scale industrial commitment. Each rig represents a calculated bet on the meme coin's longevity and profitability, even as skeptics question the ROI.

The $103M Gambit

That budget isn't pocket change—even by crypto standards. Thumzup's putting serious capital behind Doge, banking on its community-driven momentum and Elon Musk's occasional endorsements to keep the digital asset relevant.

Why Dogecoin? Really?

While Bitcoin and Ethereum dominate mining discussions, Thumzup's targeting Dogecoin's lower mining difficulty and faster block times. It's a volume game—mine more, sell more, hopefully profit more. Classic crypto logic, or what finance trad folks might call 'hopium as a business model'.

Timing and Market Ripples

Announcing a nine-figure mining venture now takes guts—or amnesia about crypto winters. Either way, it signals robust institutional confidence, or at least deep pockets and high risk tolerance.

Bottom line: Thumzup's betting $103M that Dogecoin mining isn't just a joke—while Wall Street still isn't sure whether to laugh or take notes.

TLDR

• Thumzup Media plans to acquire 3,500 Dogecoin mining rigs as part of its new business strategy.
• The company projects up to $103 million in annual revenue if Dogecoin reaches $1.
• Thumzup is transitioning from an adtech platform to cryptocurrency mining by acquiring DogeHash Technologies.
• The company will rebrand as Dogehash Technologies Holdings and trade under the ticker XDOG.
• Thumzup has completed a $50 million share offering to support its cryptocurrency mining expansion.

Thumzup Media Corporation confirmed plans to acquire a large-scale Dogecoin mining operation and project revenue of up to $103 million annually. The firm announced agreements to purchase 3,500 mining rigs, including 2,500 currently operating and 1,000 additional on order. Through its acquisition of DogeHash Technologies, Thumzup emphasized its transition from advertising technology into cryptocurrency.

Dogecoin Mining Expansion Plans

Thumzup disclosed in a shareholder letter that it had executed agreements pending shareholder approval for the acquisition. The operation involves 2,500 active dogecoin mining rigs and 1,000 rigs already ordered for delivery. The company will rebrand as Dogehash Technologies Holdings and trade publicly under the ticker XDOG.

The company highlighted the financial potential of its Dogecoin mining operations using Bitmain Antminers as the primary hardware. At current market prices, annual revenue projections reach $22.7 million from Dogecoin mining activities. However, Thumzup forecasted that if Dogecoin reaches $1, revenue could climb to $103 million.

Executives compared their performance expectations with other miners to emphasize potential profitability. Thumzup referenced BIT Mining, which reported Dogecoin mining as nearly three times more profitable than Bitcoin mining. The firm framed its entry as a strategic move within a $10.5 billion mining industry.

Corporate Interest Grows in Dogecoin Mining Sector

Dogecoin mining remains an attractive venture given the cryptocurrency’s widespread adoption and active trading volumes. Dogecoin maintains a market capitalization above $32 billion with a daily trading volume exceeding $1.3 billion. Thumzup stressed that Dogecoin is “one of the most widely held cryptocurrencies.”

The company further noted that demand for Dogecoin mining has increased among corporate players. This week, KuCoin revealed its target to capture 10% of the Dogecoin mining capacity. Analysts described the trend as a shift toward mining alternative digital assets instead of relying solely on Bitcoin.

Market conditions influence the outlook, and Dogecoin prices remain significantly below their 2021 peak. Doge currently trades at $0.214, reflecting a 70% drop from its previous high. Despite the decline, Thumzup positioned itself as a large-scale participant among publicly traded miners.

Crypto treasury and Trump family ties

Thumzup extended its cryptocurrency ambitions by authorizing treasury holdings in multiple digital assets beyond Dogecoin mining. The board approved positions in Bitcoin, Ethereum, Litecoin, Solana, XRP, and USDC. According to BitcoinTreasuries.NET, the company already holds 19.1 BTC worth about $2.1 million.

The firm completed a $50 million share offering in August to support its strategic pivot. At the same time, Thumzup announced plans to expand Dogecoin mining while reinforcing its financial reserves. The company presented these measures as necessary for scaling operations and securing growth opportunities.

Donald TRUMP Jr. deepened his financial link by purchasing 350,000 shares of the company in July. The connection extends through Dominari Securities, which facilitated fundraising for Thumzup. Company stock, trading under TZUP, ended at $5.57, marking a 5.3% increase for the day.