Thumzup Media is making a bold move from digital ads to Dogecoin mining, aiming to become one of North America’s largest crypto mining firms.
Key Takeaways
- Thumzup Media Corporation is acquiring DogeHash Technologies, which operates 2,500 Dogecoin mining rigs with 1,000 more on the way.
- The company completed a $50 million stock offering to fuel its crypto ambitions and support expansion in digital asset holdings.
- Projected revenues from mining could reach $103 million annually if Dogecoin hits $1, based on 3,500 miners running at full scale.
- Donald Trump Jr. is a notable shareholder, and Thumzup has strong ties to Dominari Securities, a crypto-savvy investment bank.
What Happened?
Thumzup Media Corporation has officially begun its transformation from a social media marketing firm into a full-fledged cryptocurrency mining player. On September 4, the company announced the pending acquisition of DogeHash Technologies. This deal, once approved by shareholders, would add 3,500 high-performance Dogecoin mining rigs to Thumzup’s portfolio. The move marks a strategic pivot that includes a significant capital raise, asset accumulation, and crypto infrastructure build-out.
Thumzup CEO @stlrbrt issued a shareholder letter outlining our strategic transformation into a leader in cryptocurrency mining. This bold move is supported by a pending acquisition of DogeHash Technologies, a dedicated Dogecoin mining company.
— Thumzup Media Corporation (@thumz_up) September 4, 2025
Learn more about this strategic… pic.twitter.com/fvzs4W4p4u
From Instagram Ads to ASIC Miners: A Strategic Pivot
Originally known for its advertising platform that paid Instagram and TikTok users for brand endorsements, Thumzup is now taking a sharp turn into crypto mining. The shift began earlier in 2025, when the company invested $1 million in Bitcoin, followed by another $1 million later in January. Investor enthusiasm for this strategy spurred a $6.5 million raise in June and culminated in a $50 million stock offering in August, managed by Dominari Securities.
Key highlights from Thumzup’s crypto transformation:
- The company will acquire DogeHash Technologies, which currently runs 2,500 state-of-the-art Dogecoin miners, with 1,000 more on order.
- The operation is expected to be rebranded as Dogehash Technologies Holdings, trading under the new ticker XDOG.
- Annual revenue projections range from $22.7 million to $103 million, depending on Dogecoin’s market price.
Why Dogecoin?
Thumzup’s focus on Dogecoin over Bitcoin or Ethereum is no accident. According to data from BIT Mining Limited, Dogecoin mining is nearly three times more profitable than Bitcoin mining. Dogecoin remains one of the most widely held cryptocurrencies, with a market cap above $32 billion and more than 5 million wallets globally.
The broader crypto mining market is estimated at $10.5 billion in 2025 and is projected to double to $22.6 billion by 2035, according to Business Research Insights. Thumzup aims to become one of the few publicly traded firms operating at utility-scale Dogecoin mining capacity, a niche with few players but significant upside.
Expanding Its Crypto Footprint
Beyond mining, Thumzup is also adopting a digital asset treasury strategy, now holding 19.1 Bitcoin worth about $2.1 million and expanding into other coins including Dogecoin, Litecoin, Solana, XRP, Ether, and USDC. The company has partnered with Coinbase Prime for institutional-grade trading, custody, and a Bitcoin-backed credit facility to support growth.
To guide its entry into the crypto world, Thumzup formed a crypto advisory board, naming Alex Hoffman, head of ecosystem at DogeOS, as its first advisor. He will help develop partnerships and utility use cases for Dogecoin.
A Still-Active AdTech Arm
While all eyes are on crypto, Thumzup has not abandoned its roots. The company’s social marketing platform continues to grow, reaching over 34,000 approved posts and surpassing 1,000 advertiser locations by August 2025. The company is also exploring tiered service plans and analytics features to enhance its original business model.
CoinLaw’s Takeaway
I’ve seen plenty of pivots in the tech world, but Thumzup’s move is unusually bold and surprisingly well-capitalized. This is not a weak attempt to ride a crypto trend. They have raised serious cash, lined up hardware, and mapped out revenue scenarios that are actually grounded in market math. In my experience, very few companies go from social media to mining rigs with this kind of precision and scale. The Trump connection, especially through Donald Trump Jr.’s investment and Dominari Securities, adds a political and institutional flavor that could boost visibility and investor confidence. If they can execute and DOGE even flirts with $1, this company could see exponential gains.
