Thumzup Drops $2M on Dogecoin, Doubles Down With DogeHash Mining Buy
TLDR:
- Thumzup acquired 7.5 million DOGE for ~$2 million at an average price of $0.2665 per token.
- The DOGE purchase follows Thumzup’s $50 million stock offering in August, priced at $10 per share.
- Thumzup plans to acquire DogeHash, a Dogecoin mining operation with 2,500 rigs plus 1,000 more units on order.
- Dogecoin ETFs are expected soon; Thumzup strengthens DOGE exposure via both treasury and mining strategy.
Thumzup Media has put Dogecoin on its balance sheet in a big way. The company disclosed buying $2 million worth of DOGE, signaling a fresh bet on crypto exposure. The buy comes only weeks after a $50 million stock raise.
At the same time, Thumzup is moving to acquire DogeHash, a Dogecoin mining operation. Together, the purchase and acquisition frame the company’s push to hold and produce DOGE.
Crypto, Dogecoin and Price: Thumzup Treasury Play Gets Bigger
According to an SEC filing, Thumzup bought about 7.5 million DOGE in an open-market deal.
The average price per token came to $0.2665, putting the total around $2 million. This marks Thumzup’s first direct Dogecoin treasury buy and part of a wider digital asset plan.
The company had raised $50 million in August through a common stock offering priced at $10 a share. It told investors those funds would be used to buy crypto and expand mining capacity.
With DOGE now on its books, the entity links its capital allocation to a major memecoin with strong market liquidity.
The timing lines up with growing anticipation for U.S.-listed Dogecoin ETFs. Thumzup said the purchase positions it ahead of potential inflows that could boost DOGE liquidity. This adds both upside opportunity and price risk to its treasury strategy.
DogeHash Mining Expansion Adds Infrastructure
Alongside the DOGE purchase, Thumzup struck a deal to acquire DogeHash Technologies. The miner currently operates roughly 2,500 Scrypt rigs and has 1,000 more rigs on order for delivery this year.
The deal would see DogeHash shareholders receive over 30 million Thumzup shares.
Following closing, Thumzup plans to rename the company Dogehash Technologies Holdings, Inc. and seek a new Nasdaq ticker “XDOG.” Shareholder and Nasdaq approvals remain required to finalize the share issuance.
The company also boosted its crypto expertise with two additions to its advisory board: Jordan Jefferson, CEO of DogeOS and co-founder of MyDoge wallet, and Alex Hoffman, Head of Ecosystem at DogeOS.
Both will guide Thumzup on DOGE-focused infrastructure and scaling efforts.
Thumzup’s move puts DOGE exposure front and center. Holding millions of DOGE means its balance sheet will rise or fall with the token’s price. The DogeHash deal signals a bid to create recurring revenue from mining.
Execution remains key. Mining expansion, token custody, and market swings could all affect returns. But for now, Thumzup is one of the few public companies tying its treasury and operations so closely to Dogecoin.
The post Thumzup Drops $2M on Dogecoin, Doubles Down With DogeHash Mining Buy appeared first on Blockonomi.
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