NewsBTC
6 September 2025
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Thumzup Media Raises $50 Million for Dogecoin Mining and Crypto Treasury

Thumzup Media raised $50 million through a common stock offering at $10 per share, with plans to enter Dogecoin mining and establish a corporate crypto treasury.

Funding and Acquisition

  • The funds will support the acquisition of Dogehash Technologies, involving the issuance of 30.7 million shares.
  • Post-acquisition, the firm will be rebranded as Dogehash Technologies Holdings and listed on Nasdaq under the XDOG ticker.
  • Part of the investment will purchase 1,000 mining machines.

Mining Strategy

  • Thumzup's mining initiative is described as aggressive, linking mining assets and capital markets.
  • Details on the renaming timetable and delivery schedule for the mining rigs remain unspecified.

Crypto Treasury Plans

  • The board approved a diversified crypto treasury including XRP, Dogecoin, Solana, Ethereum, Litecoin, and USDC.
  • No specific amounts for each token were disclosed; however, Thumzup previously invested $2 million in Bitcoin earlier this year.

Market Context

  • Other companies are also expanding their crypto reserves: Webus International announced a $300 million XRP treasury plan.
  • VivoPower is considering using part of its funding to hold XRP, while Trident Digital aims for a $500 million XRP reserve.

Investors should monitor three key items: closure of the Dogehash deal and share exchange, delivery of the mining units, and disclosures regarding crypto treasury allocations.