Daniel Walker
Thumzup Media Corporation (Nasdaq: TZUP), a company backed by Donald Trump Jr., revealed plans to add 3,500 Dogecoin mining rigs to its operations. In its latest shareholder update, the firm outlined a deal to acquire an existing fleet of 2,500 rigs from crypto miner Dogehash, with an additional 1,000 rigs expected later this year pending shareholder approval.
Last month, Thumzup confirmed it is moving forward with an all-stock acquisition of Dogehash, a miner exclusively focused on the Scrypt algorithm, which powers both Dogecoin and Litecoin.
โCryptocurrency mining could represent one of the greatest opportunities for value creation in the industry,โ the company stated. โWe expect this initiative to deliver significant high-margin revenue for the combined entity.โ
Revenue Potential From Dogecoin Mining
Thumzup projects that the expanded Dogecoin mining setup could generate $22.7 million in annual revenue at current DOGE prices, with potential earnings surging to over $103 million if Dogecoin reaches $1. According to PRIMEโs price tracker, Dogecoin is currently trading at $0.22, up 0.34% in the past 24 hours.
Building a Diversified Crypto Treasury
Beyond mining, Thumzup has been building its digital asset treasury since January, starting with a $1 million Bitcoin investment. The company recently gained board approval to hold Dogecoin, Litecoin, Solana, XRP, Ethereum, and USDC as part of its long-term crypto strategy.
Market Reaction
Following the announcement, Thumzupโs stock closed up 5.29% at $5.57 on Thursday, according to Yahoo Finance data.
