TLDR
- Thumzup pivots to crypto, betting 2,500 on Dogecoin mining dominance.
- Nasdaq firm Thumzup rebrands as Dogehash, acquiring 2,500 Dogecoin rigs.
- From ads to crypto: Thumzup invests 2,500 into mining and digital assets.
- Thumzup goes blockchain-first with Dogecoin mining and multi-asset treasury.
- Crypto shift: Thumzup buys Dogehash, eyes $22M–$103M annual mining returns.
Thumzup Media Corporation has launched a strategy to enter large-scale crypto mining. The Nasdaq-listed firm will expand its digital asset holdings and integrate mining operations into its long-term growth model. This pivot repositions Thumzup as a blockchain-focused enterprise with Dogecoin at the center.
Dogecoin Mining Takes Center Stage
Thumzup signed an agreement to acquire Dogehash Technologies to accelerate its Dogecoin mining capabilities. The acquisition includes 2,500 active mining rigs and an additional 1,000 units ordered for future deployment. This expansion supports the company’s shift from advertising to crypto infrastructure.
The company expects this move to deliver scalable, recurring revenue driven by mining operations. Based on current Dogecoin market levels, Thumzup projects annual returns of $22 million to $103 million. It plans to leverage Dogehash’s partnership with ElphaPex to secure mining hardware at scale.
After closing, Thumzup will rebrand as Dogehash Technologies Holdings, Inc. and adopt the ticker “XDOG” on Nasdaq. This strategic alignment aims to build shareholder value through infrastructure-backed digital asset exposure. The deal will finalize pending shareholder approval before year-end.
Bitcoin Buys Support Treasury Strategy
Thumzup added Bitcoin to its balance sheet as part of a treasury strategy approved by its board. The company confirmed two $1 million Bitcoin purchases early this year. This initiative helps diversify treasury assets and signal commitment to blockchain integration.
The firm also authorized exposure to Dogecoin, Litecoin, Ethereum, Ripple, Solana, and USD Coin. These holdings position Thumzup as a multi-asset crypto participant. Its total digital asset authorization currently stands at $250 million.
Coinbase Prime now supports Thumzup with institutional custody and a Bitcoin-backed credit facility. This partnership offers access to high-level trading and security infrastructure, which the company expects will support future asset purchases and operational scaling.
Litecoin, Ether, Solana, XRP and USDC Join Holdings
Thumzup expanded into other top digital assets. It now holds Litecoin, Ethereum, Solana, Ripple (XRP), and USD Coin in its growing treasury, reflecting broader exposure to blockchain ecosystems.
Each holding serves to balance risk and leverage liquidity across decentralized finance markets. Thumzup views this mix as foundational to its long-term asset diversification. The company plans to allocate capital across coins based on market cycles and utility trends.
Thumzup aims to achieve both capital appreciation and yield generation. The strategy uses a mix of mining, staking, and trading to monetize holdings. The company believes this approach enhances revenue reliability and future growth.
Strategic Funding and Market Realignment
Thumzup raised $6.5 million in June and an additional $50 million in August. These funds came from share offerings priced at $6 and $10 respectively. The capital supports crypto expansion, including acquisitions and mining infrastructure.
The firm’s pivot away from social media tech is now structurally backed by a crypto advisory board. This board includes Alex Hoffman of DogeOS, signaling ecosystem alignment. Thumzup continues to operate its advertising platform but focuses on crypto for growth.
Thumzup listed on Nasdaq with a $5 share price in October last year. It now trades with a $90.37 million market cap and sees higher-than-average volatility. Technical indicators currently suggest a downward trend, though strategic shifts may influence future movement.
