Dogecoin News Today: Thumzup's $50M Bet: Can Dogecoin Mining Rewrite Trump-Backed Firm's Fate?

Thumzup Media Corporation, a company linked to former U.S. President Donald Trump, has made a significant move into the Dogecoin (DOGE) mining sector. The company announced the completion of a $50 million all-common stock offering at $10 per share in August 2025, a strategic move aimed at bolstering its balance sheet and fueling expansion in mining infrastructure and digital asset accumulation. This capital raise is part of Thumzup’s broader transformation from an adtech platform into a prominent player in the cryptocurrency mining industry.

The funds raised will be used to acquire DogeHash Technologies, a dedicated Dogecoin mining company. The acquisition will bring 2,500 state-of-the-art mining rigs into Thumzup’s operations, with an additional 1,000 mining rigs ordered for delivery later this year, bringing the total to 3,500 mining rigs. This move positions Thumzup as one of the few publicly traded, utility-scale Dogecoin miners in North America. The company’s ambitious vision is to dominate the Dogecoin mining space, leveraging its Nasdaq listing to attract institutional and sophisticated investors.

Thumzup has outlined a revenue forecast based on the potential price appreciation of Dogecoin. Using Bitmain's Antminer L9 as a benchmark, the company estimates that 3,500 mining rigs could generate high-margin annual revenues of $22.7 million at the current market price of $0.22/DOGE. If Dogecoin reaches $1.00 per token, the projected annual revenue could surge to $103.19 million. These figures are illustrative and subject to market conditions and operational performance, with actual results potentially varying.

The acquisition aligns with the growing interest in Dogecoin, which has a market capitalization exceeding $36 billion as of August 2025. Dogecoin is among the most widely held cryptocurrencies, with more than 5 million wallets currently active. The company cited BIT Mining Limited, another publicly traded miner, which reported that its Dogecoin mining operations were nearly three times more profitable than Bitcoin mining alone in December 2024. This underscores the potential profitability of Dogecoin mining compared to other leading cryptocurrencies.

To support its expansion, Thumzup has also diversified its treasury strategy, authorizing holdings in Dogecoin, Litecoin, Solana, Ripple, Ether, and USD Coin. The company’s board has further partnered with Coinbase Prime to establish a Bitcoin-backed credit facility, enhancing its ability to scale operations and pursue a diversified digital asset treasury strategy. Thumzup also appointed Alex Hoffman, head of ecosystem at DogeOS, to its crypto advisory board, aiming to leverage his expertise in expanding the utility of Dogecoin through lending and staking applications.

As the U.S. regulatory environment for cryptocurrency evolves, Thumzup’s strategic pivot into the mining sector is seen as a response to the growing institutional confidence in digital assets. The company’s leadership emphasized that the $50 million in cash on its balance sheet, coupled with a low burn rate, provides a strong foundation for future growth and value creation. With the combined company trading under the ticker XDOG, Thumzup is positioning itself to benefit from the anticipated expansion of the cryptocurrency mining market, which is projected to grow at an 8.9% CAGR and reach $22.6 billion by 2035.

Source:

[1] title1 (https://cointelegraph.com/news/dogecoin-etf-united-states-launch-next-week-analyst)

[2] title2 (https://thumzupmedia.com/investor-relations/investor-news/news-details/2025/Thumzup-Media-Corporation-Issues-Shareholder-Letter-Highlighting-Strategic-Transformation-into-a-Crypto-Industry-Leader/default.aspx)

[3] title3 (https://cointelegraph.com/news/trump-jr-backed-company-bets-big-dogecoin-mining)

[4] title4 (https://www.prnewswire.com/news-releases/thumzup-media-corporation-issues-shareholder-letter-highlighting-strategic-transformation-into-a-crypto-industry-leader-302546517.html)