Trump Jr.-Backed Thumzup Media Turns to Dogecoin Mining After $1M Bitcoin Bet

TLDR:

• Thumzup Media invested $1M in Bitcoin and approved holdings in DOGE, LTC, SOL, XRP, ETH, and USDC.
• The firm struck a deal to acquire 2,500 Dogecoin miners, with another 1,000 rigs planned for expansion.
• A $50M stock raise at $10 per share strengthened its balance sheet for crypto growth and acquisitions.
• Pending purchase of DogeHash positions Thumzup among North America’s largest public Dogecoin miners.

Thumzup Media Corporation is making a sharp turn into crypto. The Nasdaq-listed firm, backed by Donald Trump Jr., revealed it has begun buying Bitcoin and is positioning itself as a large-scale Dogecoin miner. 

A shareholder letter confirmed the company wants to blend digital asset treasury holdings with mining expansion. The strategy comes after fresh capital raises boosted its balance sheet. Thumzup says the move could reshape its future direction and diversify revenue streams.

Bitcoin Buy and Crypto Treasury Strategy

Thumzup’s leadership confirmed in a letter that it placed $1 million into Bitcoin early this year. 

The move was part of a board-approved strategy to keep digital assets on its balance sheet. Wu Blockchain reported that the company also authorized additional investments in Dogecoin, Litecoin, Solana, Ripple, Ether, and USD Coin.

In June, the company raised $6.5 million from strategic investors at $6 per share. A larger $50 million stock raise at $10 per share closed in August, giving Thumzup more flexibility to pursue acquisitions. Executives linked this fundraising to its pivot from advertising technology into crypto.

The firm also entered a credit facility with Coinbase Prime, gaining institutional custody and trading support. It said this would help scale both asset holdings and mining operations. A newly formed crypto advisory board was created to guide expansion.

Thumzup Dogecoin Mining Expansion and Price Outlook

Thumzup signed a definitive agreement to acquire DogeHash Technologies, a Dogecoin-focused mining company. According to the shareholder letter, the deal includes 2,500 active rigs with another 1,000 ordered for delivery. 

Management said this buildout should create recurring high-margin revenues once fully operational.

Based on current Dogecoin prices, 3,500 rigs could generate between $22 million and $103 million annually. Projections used Bitmain’s Antminer L9s as a benchmark, though exact models may differ. The company expects this output to put it among North America’s largest publicly traded Dogecoin miners.

The letter described Dogecoin as a top-held digital asset with more than 5 million wallets worldwide. Public miners such as Marathon Digital, CleanSpark, and Riot Platforms have already achieved multi-billion-dollar valuations, creating a path Thumzup hopes to follow.

Executives said the acquisition diversifies revenue beyond its social media advertising platform, which remains in operation. The company reported over 34,000 paid posts and 1,000 advertiser locations on its AdTech service as of August.

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