TL;DR
- Thumzup Media, backed by Donald Trump Jr., plans to deploy 3,500 Dogecoin mining rigs after acquiring Dogehash Technologies.
- The company anticipates generating annual revenues ranging from $22.7 million at current Dogecoin prices to over $100 million if Dogecoin reaches $1.
- Thumzup is also expanding its crypto treasury to hold Dogecoin, Litecoin, Solana, XRP, Ether, and USDC, signaling a broader strategic move into the cryptocurrency space.
Thumzup Media Corporation, a Nasdaq-listed company supported by Donald Trump Jr., announced plans to establish 3,500 Dogecoin mining rigs by the end of the year. The initiative follows the pending acquisition of Dogehash Technologies, a company that currently operates 2,500 Dogecoin mining rigs, with an additional 1,000 units scheduled for deployment later this year once shareholder approval is secured. The expansion will allow Thumzup to diversify operations while tapping into emerging opportunities in the digital currency market.
The company highlighted that cryptocurrency mining could represent one of the most significant opportunities for revenue growth in the industry. With the expanded mining operation, Thumzup projects annual revenue between $22.7 million at today’s Dogecoin prices and up to $103.19 million if the token reaches $1.
Dogecoin is currently trading near $0.22, remaining significantly below its 2021 peak but demonstrating steady trading volumes, increasing public interest, and growing mainstream adoption. Analysts note that such ventures could position Thumzup as a leading institutional miner in the Scrypt ecosystem.
Mining Revenue Potential Outshines Bitcoin
Thumzup cited publicly traded BIT Mining, which reported that Dogecoin mining generated nearly three times the profit margin compared to Bitcoin operations. The company plans to use 3,500 Bitmain Antminers, emphasizing both efficiency and scale. With a cryptocurrency mining market projected to exceed $10 billion and expected to more than double by 2035, Thumzup is positioning itself among a select group of publicly traded Dogecoin miners. The firm also mentioned plans to optimize energy usage and reduce operational costs, aiming to maintain high profitability.
Strategic Expansion Of Crypto Treasury
In addition to mining, Thumzup is expanding its cryptocurrency holdings. The board has approved investments in Dogecoin, Litecoin, Solana, XRP, Ether, and USDC. The company’s treasury already includes 19.1 BTC, valued at approximately $2.1 million. Donald Trump Jr. personally purchased 350,000 shares of Thumzup, deepening the family’s involvement in the company’s strategic crypto ventures.
This dual focus on mining and treasury growth demonstrates the company’s ambition to secure a long-term, diversified presence in the cryptocurrency industry while attracting institutional interest and potential partnerships.
