Haciyev Reşit 
Trump-linked media company Thumzup Media Corporation has announced plans to invest $100 million in Dogecoin (DOGE) mining. The company aims to purchase 3,500 mining rigs and expects to generate $103 million in annual revenue if DOGE reaches $1.
Thumzup’s Dogecoin Mining Operation
In a shareholder letter released Thursday, Thumzup Media Corporation stated that it initially purchased 2,500 rigs and has ordered an additional 1,000 devices. The company has signed binding agreements pending shareholder approval and plans to operate its Dogecoin mining through DogeHash Technologies.
In August, Thumzup announced its transition from an advertising technology platform to cryptocurrency mining. The merged entity will be renamed DogeHash Technologies Holdings and trade under the ticker XDOG. A $50 million share offering was also completed in August.
Mining Plans and Expected Revenue
- Devices to be used: 3,500 Bitmain Antminer rigs
- Expected annual revenue at current DOGE price: $22.7 million
- Expected annual revenue if DOGE reaches $1: $103 million
DOGE is currently trading at $0.214, over 70% below its 2021 all-time high.
Thumzup stated that Dogecoin mining is roughly three times more profitable than Bitcoin mining and emphasized that it aims to gain a strategic advantage compared to publicly traded mining companies.
Market Position and Crypto Portfolio
Dogecoin, with a market cap exceeding $32 billion and a daily trading volume of $1.3 billion, is among the most widely held cryptocurrencies. Thumzup aims to become one of the rare public-scale Dogecoin miners in the $10.5 billion crypto mining market, which is expected to more than double by 2035.
The company’s board has also authorized holdings in Bitcoin, Dogecoin, Litecoin, Solana, XRP, Ether, and USDC. According to BitcoinTreasuries.NET, Thumzup holds approximately 19.1 BTC valued at around $2.1 million.
Trump Jr. Investment and Stock Performance
Donald Trump Jr., son of former U.S. President Donald Trump, purchased 350,000 shares of the company in July. The Trump family connection also facilitates fundraising through investment bank Dominari Securities.
According to Google Finance, Thumzup’s shares (TZUP) closed the day up 5.3% at $5.57. While below the August peak of $15, the stock has risen 62% year-to-date.
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