Thumzup Bets Big on Dogecoin Amid Crypto Rebalancing Strategy

Thumzup Media Corporation (Nasdaq: TZUP), a media and digital-marketing firm with ties to Donald Trump Jr., has significantly expanded its crypto treasury by acquiring 7.5 million Dogecoin (DOGE) tokens in an open-market purchase. The acquisition, valued at approximately $2 million at a weighted average price of $0.2665 per token, represents the company’s first direct purchase of Dogecoin and underscores its strategic pivot into the cryptocurrency sector. The purchase follows Thumzup’s broader move into digital assets, which began in January 2025 with a $1 million investment in Bitcoin. In July, the company’s board authorized the firm to hold up to $250 million in cryptocurrencies, signaling an aggressive and diversified approach to digital asset accumulation.

Thumzup is also advancing its exposure to Dogecoin through its proposed acquisition of DogeHash Technologies, a Dogecoin mining firm with 2,500 Scrypt ASIC miners currently operational in North America and an additional 1,000 units expected to be added by year-end. The acquisition is structured as an all-stock transaction and would result in the company being renamed “Dogehash Technologies Holdings, Inc.” and trading under the ticker “XDOG” on the Nasdaq. This transaction is subject to shareholder approval and is expected to close by the fourth quarter of 2025. The combined entity aims to become the world’s leading Dogecoin mining platform, leveraging renewable energy and utility-scale mining to optimize operational efficiency.

The company’s expansion into Dogecoin is supported by a $50 million common stock offering in August 2025, with proceeds earmarked for the acquisition of mining rigs and further digital asset purchases. This capital infusion has allowed Thumzup to begin deploying resources into both direct Dogecoin accumulation and the establishment of a large-scale mining operation. The strategic rationale for focusing on Dogecoin is rooted in its fast block times, low transaction fees, and predictable supply model, which the company views as advantages over traditional proof-of-work cryptocurrencies like Bitcoin. Dogecoin currently ranks among the top cryptocurrencies by market capitalization, with daily trading volumes often exceeding $1 billion.

To further strengthen its position in the Dogecoin ecosystem, Thumzup has appointed Jordan Jefferson, CEO of DogeOS and leader of MyDoge, and Alex Hoffman, head of ecosystem at DogeOS, to its Crypto Advisory Board. The appointments highlight the company’s intent to align closely with key figures and projects within the Dogecoin community, ensuring that its strategy is informed by industry leaders and technical experts.

Financially, the company is forecasting substantial returns from its Dogecoin mining operations, with potential annual revenue reaching as high as $103 million if the price of Dogecoin rises to $1 per token. At current price levels, the company projects $22.7 million in annual mining revenue. These figures contrast sharply with the current market performance of Dogecoin, which has declined over 70% from its 2021 high and is currently trading at $0.214 as of the latest data. Thumzup has, however, cited the higher profitability of Dogecoin mining relative to Bitcoin, referencing publicly traded miner BIT Mining’s December report that highlighted nearly three times greater profitability for Dogecoin operations.

Thumzup’s strategic shift has been accompanied by market volatility in its stock. The company’s shares closed down 7.7% at $4.61 on Wednesday, but bounced 4.5% after hours following the Dogecoin acquisition announcement. The stock, which reached an August high above $15, remains up 62% year to date, despite the significant drop. The company’s board continues to evaluate its broader digital asset strategy, with plans to diversify its holdings beyond Dogecoin into cryptocurrencies such as Litecoin, Solana, and Ether, reflecting its commitment to a multi-asset approach in the evolving crypto landscape.