Thumzup Media, a Nasdaq-listed firm backed by Donald Trump Jr., is making a major push into Dogecoin mining after announcing plans to acquire Dogehash and deploy 3,500 Scrypt mining rigs by year‑end.
The company says it intends to buy Dogehash’s existing fleet of 2,500 rigs and add 1,000 more, subject to shareholder approval of an all-stock deal. Dogehash’s equipment runs the Scrypt algorithm, which secures both Dogecoin and Litecoin and is designed to be memory-intensive to discourage large-scale custom-hardware attacks.
In a shareholder letter Thumzup projected “material” high-margin revenue from the integration. Using current DOGE prices the firm estimates revenue near $22.7 million; if the token reaches $1 revenue could top $100 million. Dogecoin traded near $0.22 at the time of the announcement.
This move follows Thumzup’s January decision to seed a $1 million bitcoin treasury position and an expanded treasury mandate that now includes Dogecoin, Litecoin, Solana, XRP, ether and USDC. The strategy marks a different path from bitcoin-first firms like MicroStrategy, favoring diversified crypto exposure and direct mining revenue on smaller, actively traded tokens.
Risk awareness: mining profitability depends on token prices, network difficulty, energy costs and the outcome of the shareholder vote. Historically, Scrypt-mined tokens such as DOGE have offered lower margins than BTC and memecoin demand can be volatile, so returns are not guaranteed.
If the rigs go live as projected, Thumzup would become one of the largest public Dogecoin miners, positioning the company to capture retail-driven flows into memecoins and add a new operational revenue stream.
Source: PR Newswire. Read the original coverage for full details.
