Thumzup to expand into Dogecoin mining with DogeHash acquisition plans

Thumzup to expand into Dogecoin mining with DogeHash acquisition plans

Thumzup Media Corporation (NASDAQ: TZUP), known for its advertising technology platform, has announced plans to significantly expand its operations into cryptocurrency mining, specifically targeting Dogecoin (DOGE). The company has disclosed its intention to acquire DogeHash Technologies, a move that would bring 3,500 Dogecoin mining rigs under its control.

According to the latest shareholder letter, Thumzup intends to acquire an existing network of 2,500 Dogecoin mining rigs and an additional 1,000 rigs planned for delivery later this year, upon shareholder approval. The acquisition is part of a broader strategic shift for the company from advertising technology to large-scale cryptocurrency mining [1].

The acquisition and subsequent mining rig setup are projected to generate an estimated revenue ranging from $22.7 million at current Dogecoin prices to $103.19 million if Dogecoin reaches $1.00. Thumzup cited external estimates from Bitmain's Antminer calculators to illustrate potential outputs [2].

Thumzup's entry into mining follows recent U.S. policy developments, including executive actions under President Donald Trump aimed at strengthening the country's role in digital finance and establishing a strategic Bitcoin reserve. The company also disclosed prior investments in Bitcoin (BTC) and said its board has authorized holdings in multiple digital assets, including Dogecoin, Litecoin (LTC), Solana (SOL), Ripple (XRP), Ether (ETH), and USD Coin (USDC) [1].

The DogeHash acquisition positions Thumzup among a growing field of publicly traded crypto miners. The company continues to operate its original AdTech platform, which it said surpassed 34,000 paid social media posts by August [1].

References:
[1] https://finance.yahoo.com/news/thumzup-expand-dogecoin-mining-dogehash-183020963.html
[2] https://www.theblock.co/post/369591/thumzup-3500-dogecoin-mining-rig