Thumzup Rebrands as Dogehash, Mines Path to Sustainable Dogecoin Growth

Thumzup Media Corporation (NASDAQ: TZUP) has announced a $10 million share repurchase program through December 31, 2026, following the completion of its initial $1 million buyback in September 2025. The company repurchased 212,432 shares at a weighted average price of $4.71 per share. This initiative underscores confidence in Thumzup’s long-term strategy, which combines strategic digital asset accumulation with infrastructure investments. The company’s treasury currently holds 19.106 Bitcoins and approximately 7.5 million Dogecoins, reflecting a diversified approach to cryptocurrency holdingsThumzup Announces $10 Million Share Repurchase Program^[1].

The firm is also advancing its transition into the cryptocurrency mining sector through the acquisition of Dogehash Technologies, Inc. The all-stock transaction, valued at 30.7 million shares, will rebrand Thumzup as “Dogehash Technologies Holdings, Inc.” and list under the ticker XDOG on Nasdaq. Dogehash operates 2,500 Scrypt ASIC miners in North America, with plans to expand to 3,500 units by 2026. The merged entity aims to leverage renewable energy data centers and Dogecoin’s Layer-2 infrastructure (via DogeOS) to enhance mining efficiency and yield beyond base block rewardsThumzup to Acquire Dogehash Technologies, Inc., a Leader in DOGE Digital Asset Mining^[2].

Thumzup’s expansion into mining aligns with its broader digital asset strategy, which includes holding Bitcoin, Ethereum, Solana, and other major cryptocurrencies. The company raised $50 million in July 2025 through a common stock offering to fund mining infrastructure and digital asset purchases. This capital will support the deployment of additional mining rigs and the acquisition of Dogecoin, with the company citing potential annual revenues of $22.7 million to $51.6 million depending on Dogecoin’s priceThumzup’s $153.8M Deal to Transform DOGE Mining^[3].

The strategic pivot from a digital advertising platform to a crypto mining operation highlights Thumzup’s focus on revenue-generating digital assets. CEO Robert Steele emphasized the shift’s potential to create a “sustainable source of Dogecoin” through organic accumulation, contrasting with traditional treasury strategies that rely on market purchases. The acquisition also strengthens Thumzup’s ties to the Dogecoin ecosystem, including partnerships with DogeOS and the appointment of industry experts to its Crypto Advisory BoardThumzup to Acquire Dogehash for 30.7M Shares in All-Stock Deal^[4].

Analysts note that Thumzup’s entry into mining positions it among a growing field of publicly traded crypto miners. The global cryptocurrency mining market, valued at $10.5 billion in 2025, is projected to double by 2035Thumzup To Expand Into Dogecoin Mining With DogeHash Acquisition Plans^[5]. Dogecoin’s market capitalization of over $36 billion and its adoption in 5 million wallets further support its strategic appeal. However, the company’s financial health remains under scrutiny, with a weak rating due to short-term obligations exceeding liquid assets (current ratio: 0.27)Thumzup approves $10 million share buyback program through 2026^[6].

The acquisition and share repurchase program are subject to shareholder approval, with the former expected to finalize in Q4 2025. Thumzup’s board has authorized up to $250 million in cryptocurrency holdings, reflecting its commitment to financial agility. The company’s investor base includes notable figures such as Donald Trump Jr., who holds 350,000 shares and is listed as a selling shareholder in a pending secondary offeringDonald Trump Jr. invests in Thumzup crypto^[7].