Thumzup Media Corporation is making a bold move in the cryptocurrency sector, injecting $2.5 million into DogeHash Technologies to expand its Dogecoin mining operations. The capital infusion, structured as a loan, comes ahead of Thumzup’s pending acquisition of DogeHash and is designed to accelerate deployment of next-generation ASIC miners.
According to the press release, with this funding, DogeHash plans to add over 500 new mining rigs, potentially increasing the total operational fleet to more than 4,000 by the end of 2025. This step signals Thumzup’s strategic commitment to scaling its presence in the Dogecoin ecosystem.
Expanding Mining Capacity
The fresh funding enables DogeHash to deploy cutting-edge mining hardware quickly, enhancing efficiency and production. The move also aligns with Thumzup’s broader vision of becoming a leading player in cryptocurrency mining.
Beyond the immediate operational benefits, expanding mining capacity positions both companies to capitalize on potential Dogecoin market rallies. Robert Steele, Thumzup’s CEO, emphasized that this initiative reinforces their goal of building a premier Dogecoin mining operation.
Parker Scott, CEO of DogeHash, noted that the early capital helps accelerate operations during a pivotal period. With more rigs online, the company can increase mining output and maintain a competitive edge in the evolving Dogecoin market. This expansion complements Thumzup’s other initiatives, including DOGE treasury purchases and the launch of its Crypto Advisory Board, creating a multi-faceted approach to digital asset growth.
Market Conditions and Dogecoin’s Price Action
Dogecoin has seen an increase in value alongside this development. The token is currently priced at $0.2427, reflecting a 5.73% rise in the past 24 hours. Its market capitalization now exceeds $36.6 billion, driven by a circulating supply of 150 billion coins. Market analysts are closely monitoring this movement, with short-term and long-term technical indicators pointing to possible breakouts.
Trader Tardigrade, a well-followed analyst, noted that Dogecoin is consolidating inside a symmetrical triangle pattern on the four-hour chart. Support lies at $0.226, while resistance is positioned at $0.238.
Source: X
Breakout above the resistance zone could propel the coin higher, while a failure may test $0.222 again. The compression pattern reflects falling volatility, which often precedes decisive price swings.
Long-Term Outlook and $1 Speculation
Another market analyst Maximalist, projects a much larger upside for Dogecoin. According to his analysis, the coin has already broken free from a multi-year descending trendline.
Currently consolidating in the $0.23–$0.24 range, Dogecoin faces key resistance at $0.28 and $0.45. A confirmed breakout above $0.45 could trigger a run toward $1, supported by Fibonacci extensions and previous cycle highs.
Source: https://coinpaper.com/11396/doge-hash-scores-2-5-m-500-fresh-asi-cs-aim-to-supercharge-doge-breakout-watch-at-0-238
