Thumzup Media Corporation, linked to Donald Trump Jr., disclosed agreements to acquire DogeHash Technologies, a Dogecoin mining operator.
The transaction, pending shareholder approval, covers 2,500 Dogecoin mining rigs in operation with 1,000 additional rigs ordered.
The shareholder letter released Thursday confirmed that Thumzup will deploy a total of 3,500 Bitmain Antminers for Dogecoin mining. The move shifts the company away from its earlier advertising technology business model.
In August 2025, Thumzup reported completing a $50 million share offering to fund the mining transition.
Once finalized, the combined company will adopt the name Dogehash Technologies Holdings and trade under the ticker XDOG.
Dogecoin Mining Revenue Projections
Thumzup projected that mining revenue depends on the Dogecoin price. At $0.214, the company expects around $22.7 million annually. If Dogecoin reaches $1, revenue could rise to $103 million annually.
The company noted that the mining operation will run entirely on Bitmain Antminers. Dogecoin currently holds a market capitalization of more than $32 billion and a daily trading volume of about $1.3 billion, providing liquidity for large-scale operations.
Despite the projections, Dogecoin remains down more than 70 percent from its 2021 all-time high.
Data from TradingView showed that the token has underperformed in 2025, trading at $0.214 at the time of the announcement.
Dogecoin Mining Compared to Bitcoin Mining
Thumzup highlighted data from BIT Mining, a publicly traded company, which reported that its Dogecoin mining was nearly three times more profitable than Bitcoin mining alone.
The company also pointed to industry data estimating that the crypto mining market, valued at $10.5 billion, could more than double by 2035.
Other firms are entering the same sector. KuCoin announced this week that it plans to secure 10 percent of global Dogecoin mining capacity, underscoring institutional competition in Dogecoin mining.
Thumzup Treasury and Crypto Holdings
The Thumzup board authorized direct holdings of multiple cryptocurrencies alongside Dogecoin.
These include Bitcoin (BTC $111,320), Litecoin (LTC $112.05), Solana (SOL $203.40), XRP (XRP $2.80), Ether (ETH $4,317), and USDC ($0.9997).
According to BitcoinTreasuries.NET, Thumzup currently holds 19.1 BTC, valued at around $2.1 million.
The assets are part of its balance sheet strategy following the move into Dogecoin mining.
Trump Jr. Connection to Thumzup
Donald Trump Jr. purchased 350,000 shares of Thumzup, according to July filings.
The Trump family’s involvement extends further through Dominari Securities, the investment bank that managed Thumzup’s recent fundraising rounds.
Shares of Thumzup (TZUP) closed Thursday at $5.57, up 5.3 percent for the day, according to Google Finance.
The stock, which reached a high above $15 in August, remains 62 percent higher since the start of 2025.
Disclosure:This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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Tatevik Avetisyan is an editor at Kriptoworld who covers emerging crypto trends, blockchain innovation, and altcoin developments. She is passionate about breaking down complex stories for a global audience and making digital finance more accessible.
📅 Published: September 5, 2025 • 🕓 Last updated: September 5, 2025
