- Thumzup to acquire 3,500 Dogecoin miners, targeting major crypto mining expansion across North America.
- $50M stock raise fuels Thumzup’s crypto shift with Bitcoin, DOGE, SOL, ETH, XRP, and more.
Thumzup Media Corporation, a Nasdaq-listed company backed by Donald Trump Jr., outlined its move into cryptocurrency mining in a shareholder letter dated September 4, 2025. The company has entered into a binding agreement to acquire 2,500 Dogecoin mining rigs as part of its planned acquisition of DogeHash Technologies. Another 1,000 rigs are expected to be added later this year, subject to shareholder approval.
Donald Trump Jr.-backed Thumzup Media Corporation said in a shareholder letter it has purchased $1M in Bitcoin and authorized additional investments in DOGE, LTC, SOL, XRP, ETH, and USDC. The company also signed a definitive agreement to acquire 2,500 DOGE miners, with plans to…
— Wu Blockchain (@WuBlockchain) September 5, 2025
If the deal goes through, Thumzup would become one of the few public companies with large-scale Dogecoin mining operations. The company said the move could boost revenue, lower its dependence on outside funding, and broaden its business beyond its initial focus on social media advertising.
$50 Million Raised for Crypto Growth Plans
Thumzup confirmed that a $50 million fundraise had just closed in the market as an all common stock offering at $10 per share. Such a capital raise follows funding rounds that had taken a $6.5-million chunk in June and an $8.2 million chunk in October 2024. These injections have strengthened the company’s balance sheet and will be deployed for the company’s growth in the digital asset realm.
In line with the updated financial strategy, the board approved crypto holdings in early 2025. The company proceeded to purchase $1 million in Bitcoin and followed up with approvals of additional assets, including Dogecoin (DOGE), Litecoin (LTC), Solana (SOL), Ripple (XRP), Ethereum (ETH), and USD Coin (USDC).
Based on performance estimates, Thumzup believes its mining setup could produce high-margin revenue over the next year. Using equipment similar in capability to Bitmain’s Antminer L9s, the company shared potential outcomes depending on market prices. For example, if Dogecoin trades at $0.22, the 3,500 miners could generate over $22 million in annual revenue. If prices move higher, earnings could increase accordingly.
The letter also informed on a larger trend in the market, projecting crypto mining to grow from $10.5 billion in 2025 to $22.6 billion in 2035. Thumzup also referred to other public miners, including Marathon Digital and CleanSpark, which have reached multi-billion-dollar market value in recent years.
Strategic Partnerships and Advisory Board
To further enable the expansion, Thumzup has continued to deepen its strategic relationship with Coinbase Prime. Bitcoin credit, institutional trading, tools, and digital asset custody are now products accessible to the company. Through this relationship, everyday operational needs as well as longer-term treasury objectives may be realized.
The company set up a crypto advisory board. Alex Hoffman, who functions as head of ecosystem at DogeOS, is the founding member. Having experience in Dogecoin development and strategy will help him further the mining and asset management agendas of Thumzup. Additional appointments should be announced in the coming months.
As stated in the shareholder letter, Thumzup continues to build for lasting value through its digital asset strategy and mining operations. Final steps will require shareholder approval regarding the DogeHash acquisition before moving forward.
