Thumzup Media Makes Massive Pivot Into Crypto Mining
Thumzup Media Corporation, a Trump family-linked media company, is making bold moves in the cryptocurrency industry. The company announced plans to acquire 3,500 Dogecoin mining rigs as part of its strategic pivot from digital advertising to large-scale crypto mining.
According to a shareholder letter released on Thursday, Thumzup has already executed definitive agreements, pending shareholder approval, to acquire a Dogecoin mining operation currently running 2,500 rigs, with an additional 1,000 rigs on order.
As part of this transformation, the company will rebrand as Dogehash Technologies Holdings and trade under the ticker XDOG. The shift represents Thumzup’s goal of becoming one of the largest publicly traded Dogecoin mining companies in the United States.
Dogecoin Mining Profitability Could Outpace Bitcoin
Thumzup’s ambitions are based on Dogecoin’s strong profitability potential. Using 3,500 Bitmain Antminer rigs, the company estimates potential annual revenue of $22.7 million at current prices.
If Dogecoin reaches the $1 mark, Thumzup projects annual revenue could surge to $103 million – a forecast that’s generating significant buzz in both the crypto and institutional investor spaces.
DOGE is currently trading around $0.214, down more than 70% from its 2021 all-time high. However, Thumzup remains optimistic due to Dogecoin’s strong community and rising adoption.
Interestingly, Thumzup cited publicly available reports from BIT Mining, which revealed that Dogecoin mining has been nearly three times more profitable than Bitcoin mining in recent months, largely due to lower competition and energy efficiency advantages.
Thumzup Aims to Become a Publicly Traded Dogecoin Mining Giant
By acquiring DogeHash Technologies and scaling operations to 3,500 mining rigs, Thumzup aims to establish itself as one of the few utility-scale Dogecoin miners available on U.S. stock markets.
The company’s move comes at a time when crypto mining is booming globally, with the sector estimated at $10.5 billion today and projected to more than double by 2035.
Thumzup’s transition into mining is also part of a broader crypto treasury strategy. Beyond mining operations, the company has authorized holding multiple leading digital assets, including:
- Dogecoin (DOGE)
- Bitcoin (BTC)
- Ethereum (ETH)
- Solana (SOL)
- Litecoin (LTC)
- XRP
- USD Coin (USDC)
According to BitcoinTreasuries.net, Thumzup already holds 19.1 BTC, valued at roughly $2.1 million.
Trump Family Ties Drive Market Excitement
The company’s strong ties to the Trump family have added to its visibility in both the crypto and traditional investment sectors.
According to a July SEC filing, Donald Trump Jr. purchased 350,000 shares of Thumzup, signaling confidence in the company’s future. The Trump family connection also extends through Dominari Securities, the investment bank facilitating Thumzup’s fundraising efforts.
Market sentiment has responded positively to these developments. Thumzup stock (TZUP) rose 5.3% on Thursday, closing at $5.57. While shares have fallen from their August high above $15, they remain up 62% year-to-date, reflecting investor optimism about the company’s shift toward Dogecoin mining.
The Bigger Picture – Dogecoin’s Path to $1
Thumzup’s aggressive entry into Dogecoin mining underscores the growing institutional interest in the meme-inspired cryptocurrency. With a market capitalization above $32 billion and daily trading volumes exceeding $1.3 billion, Dogecoin remains one of the most widely held cryptocurrencies globally.
The company’s $103 million revenue projection is directly tied to Dogecoin’s future price trajectory. If DOGE can break past critical resistance levels and move toward the $1 milestone, Thumzup could become one of the biggest institutional beneficiaries.
Meanwhile, analysts note that KuCoin and other major players are also ramping up investments in Dogecoin mining, aiming to secure a significant share of the network’s hash power.
Thumzup Media Corporation’s pivot into Dogecoin mining could mark a turning point for institutional involvement in the meme coin ecosystem.
- If Dogecoin prices remain stable, the company expects $22.7M in yearly revenue.
- If DOGE surges to $1, projected revenues could skyrocket past $100M.
- Trump family involvement and Nasdaq ambitions have attracted mainstream investor attention.
With the company preparing to scale operations, Dogehash Technologies Holdings (XDOG) could become one of the most closely watched crypto-mining firms heading into 2025.
