Bitcoin News Today: Dogecoin's Surge Fuels Mining Expansion as Bitcoin Wavers

ENA and DOGE cryptocurrencies experienced significant price movements on September 8, 2025, with ENA surging 18.3% and DOGE rising 12.7% amid broader market uncertainty. Meanwhile, Bitcoin (BTC) faced renewed pressure, with concerns over a potential breakdown persisting after it traded below the $106,000 level. Analysts noted mixed signals from market sentiment, with some observers pointing to institutional accumulation and regulatory developments as potential stabilizing factors, while others warned of short-term volatility given the high sensitivity of crypto markets to macroeconomic news and geopolitical risks [1].

The surge in DOGE was driven by two primary factors, according to Santiment. First, the anticipated launch of the U.S.-listed Rex-Osprey Dogecoin ETF, which could provide institutional-grade exposure to the cryptocurrency and attract a broader range of investors. Second, the expansion of Thumzup Media Corporation’s mining operations through the acquisition of DogeHash Technologies. Thumzup plans to deploy 3,500 new mining rigs, significantly enhancing its Dogecoin production capacity and positioning itself as one of the few publicly traded, utility-scale Dogecoin miners in the sector [1].

Thumzup’s aggressive strategy has been backed by a series of capital-raising initiatives. In June and August 2025, the company secured $6.5 million and $50 million in funding respectively, allowing it to scale operations and acquire a Dogecoin mining operation with 2,500 active rigs and another 1,000 on order. The company has also partnered with Coinbase Prime for institutional-grade trading and custody services and announced the formation of a crypto advisory board, with Alex Hoffman, head of ecosystem at DogeOS, as its first member. These moves are expected to enhance operational efficiency and expand the utility of the Dogecoin asset [1].

The broader cryptocurrency mining sector is experiencing rapid growth, with the market size estimated at $10.5 billion in 2025 and projected to reach $22.6 billion by 2035, representing an 8.9% compound annual growth rate. This expansion is being driven by increasing institutional adoption, with over 100 public companies now implementing digital asset treasury strategies and billions of dollars of cryptocurrency held on corporate balance sheets. Additionally, more than 40 publicly traded cryptocurrency mining operators now exist, with MARA Holdings, CleanSpark, and Riot Platforms leading the pack with valuations above $3 billion [1].

Bitcoin’s recent performance has raised concerns among traders and investors, as the price continues to test key support levels. Despite the launch of new mining operations and the growing influence of institutional investors, BTC remains under pressure from macroeconomic headwinds, including inflation expectations and central bank policies. Cipher Mining and Riot Platforms both reported strong Bitcoin production in August, with Cipher producing 241 BTC and Riot hitting an all-time high of 477 BTC mined. However, these gains have yet to translate into a sustained price recovery, with many market participants still wary of the potential for a larger correction [1].

The U.S. government has also played a role in shaping the crypto landscape, with President Donald Trump signing an executive order in January 2025 that promoted digital financial technology and established a strategic Bitcoin reserve. This move has been credited with boosting institutional and global confidence in the asset class, particularly in the context of recent regulatory clarity. Meanwhile, American Bitcoin Corp (Nasdaq: ABTC) made its market debut on the Nasdaq following its merger with Gryphon Digital Mining, positioning itself as a public vehicle for Bitcoin accumulation and infrastructure development [1].

Source: [1] What's Trending in Crypto from DOGE to BTC (https://www.newsfilecorp.com/release/265421/Whats-Trending-in-Crypto-from-DOGE-to-BTC-How-Thumzup-Media-Corporation-TZUP-Made-the-Trend)