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- Nasdaq-listed Thumzup Media has executed agreements, pending shareholder approval, to acquire a Dogecoin mining operation with 2,500 rigs and has ordered an additional 1,000 miners.
- The firm’s move into multi-asset crypto holdings and DOGE mining reflects a strategic pivot toward becoming a diversified digital asset company.
Thumzup Media Corporation, a company backed by Donald Trump Jr. has expanded its crypto treasury reserves including other digital currencies like XRP, Dogecoin (DOGE), Solana (SOL), Litecoin (LTC), Ethereum (ETH), and Circle’s USDC. This announcement comes on top of its recent purchase of an additional $1 million in Bitcoins. The Nasdaq-listed firm saw its stock price TZUP surge by 5.29% on Thursday, September 4.
Thumzup Media Announces Additional $1 Million in Bitcoin Purchases
Donald Trump Jr.-backed Thumzup Media Corporation (NASDAQ: TZUP) announced in a shareholder letter that it has purchased $1 million in Bitcoin. The crypto treasury firm submitted 8-K filing with the SEC on September 4, revealing that the company purchased $2 million worth of Bitcoin in January 2025 for its digital asset treasury.
Moreover, the filing also confirmed the completion of a $50 million common stock offering aimed at expanding its cryptocurrency strategy. This comes over and above the $200 million shelf offering in May, to expand the Bitcoin treasury, as reported by CNF.
In addition to Bitcoin, the company has also announced plans to expand its crypto treasury to other digital assets. On September 4, Thumzup Media authorized further investments in Dogecoin (DOGE), Litecoin (LTC), Solana (SOL), XRP, Ethereum (ETH), and USD Coin (USDC).
Bill Morgan, the pro-XRP lawyer, celebrated this development, stating that there’s another XRP treasury firm in the market.
Tapping New Opportunities in Dogecoin (DOGE) Mining
Thumzup Media announced on August 19 that it has executed definitive agreements, pending shareholder approval, to acquire a leading Dogecoin mining operation currently operating 2,500 advanced mining rigs. The company has also ordered an additional 1,000 top-tier miners, expected to be delivered later this year.
Last year in December 2024, crypto mining firm BitMiner stated that Dogecoin mining operations have been three times more profitable than Bitcoin mining. With its latest move, Thumzup Media is now looking to tap into this opportunity.
Thumzup Media’s move into Dogecoin mining and a multi-asset crypto treasury marks a strategic shift toward becoming a diversified digital asset company. The company’s scale in DOGE mining could generate significant revenue if market volatility proves favorable, while holdings in BTC, ETH, SOL, and XRP provide a hedge against sector risk.
Market sentiment is largely bullish, supported by Thumzup’s NASDAQ listing and recent partnerships. As reported earlier, the TZUP stock price has surged 5.29% on Thursday, September 4. However, analysts caution that execution risks remain, as public miners often face challenges in scaling operations and managing crypto price fluctuations.
