TLDR
- Thumzup Media loaned $2.5M to DogeHash to expand its Dogecoin miner fleet.
- DogeHash’s fleet is set to exceed 4,000 miners by the end of 2025.
- Thumzup holds over 19 BTC and 7.5M DOGE, valued at $3.85 million.
- The REX-Osprey Dogecoin ETF’s strong launch supports Dogecoin market growth.
Thumzup Media, a Nasdaq-listed company, has announced a $2.5 million loan to DogeHash Technologies to boost its Dogecoin mining operations. This loan will fund the deployment of over 500 new ASIC miners, increasing DogeHash’s fleet to more than 4,000 rigs by the end of 2025. This strategic move is part of Thumzup’s broader push into the cryptocurrency sector and its planned acquisition of DogeHash, which is still awaiting shareholder approval.
Thumzup’s Strategic Loan to DogeHash
Thumzup’s $2.5 million loan to DogeHash aims to strengthen the latter’s Dogecoin mining capacity. The loan will allow DogeHash to install over 500 new ASIC miners, bringing its total fleet size to over 4,000 miners.
This move comes at a time when the Dogecoin market is experiencing renewed attention, especially with the recent launch of the REX-Osprey Dogecoin ETF (DOJE), which saw strong early trading volume.
Parker Scott, CEO of DogeHash, stated that the loan would be crucial in deploying “cutting-edge hardware” for the company during a critical period for Dogecoin. The added mining capacity is expected to help DogeHash remain competitive in an evolving and often volatile market. Thumzup’s backing aligns with its broader crypto strategy, which includes accumulating significant holdings in both Bitcoin and Dogecoin.
Thumzup’s Growing Crypto Involvement
This loan marks another step in Thumzup Media’s growing involvement in the cryptocurrency space. The company began accumulating digital assets in January, and it currently holds over 19 Bitcoin and 7.5 million Dogecoin, valued at approximately $3.85 million. Thumzup has been authorized to hold up to $250 million in digital assets, reflecting its long-term commitment to crypto investment.
Thumzup’s strategy has been to integrate more crypto-related assets into its balance sheet. In addition to the loan to DogeHash, the company recently approved a $10 million share repurchase plan. This reflects Thumzup’s belief in the potential of the cryptocurrency market, despite recent challenges in the space.
Dogecoin’s Market Performance and ETF Launch
Dogecoin, once a major contender in the crypto market, has struggled to regain its previous momentum. After peaking at over $0.75 during the 2021 bull run, it has since seen a decline, with the price currently hovering around $0.23.
Despite this, the launch of the REX-Osprey Dogecoin ETF (DOJE) has injected some optimism into the market. The ETF’s first-day trading volume reached more than $17 million, drawing attention to the growing institutional interest in Dogecoin.
The ETF’s strong debut has reinforced the idea that Dogecoin could regain some of its former strength. Thumzup’s decision to support DogeHash with this loan reflects confidence in the potential of the Dogecoin network, even though the token’s price has faced significant volatility in recent months.
Thumzup’s Stock Performance and Future Plans
Thumzup’s stock has faced challenges, particularly after the hype-driven gains seen earlier in 2025. The company’s shares have dropped by more than 65% since August, trading now at $5.20. This decline comes amid broader fluctuations in the cryptocurrency market, which have impacted many companies involved in digital assets.
Despite the recent downturn, Thumzup remains committed to its crypto strategy. The loan to DogeHash is seen as a key part of its broader plan to expand its footprint in the crypto industry. Additionally, the company’s growing digital asset holdings suggest that Thumzup is positioning itself for long-term growth in the sector, regardless of short-term market fluctuations.
Thumzup’s efforts in the crypto space are not unique. Other companies, such as CleanCore Solutions, have also taken steps to accumulate significant amounts of Dogecoin. CleanCore recently pledged to buy up to 1 billion DOGE, aiming to secure a 5% share of the circulating supply. This competition in the crypto space could drive further innovation and investment in Dogecoin mining operations.
