Nikolas Sargeant
Thumzup Media, the Nasdaq-listed company with ties to Donald Trump Jr., has acquired 7.5 million Dogecoin tokens valued at approximately $2 million as part of its expanding cryptocurrency treasury strategy. The company launched its crypto treasury in January with a $1 million investment in bitcoin and received board authorization in July to hold up to $250 million worth of cryptocurrencies.
Donald Trump Jr. acquired 350,000 shares worth approximately $4 million in the company, deepening the Trump family's involvement in the crypto venture. The company, which started in ad tech, is now putting real money into DOGE, signaling a possible shift in long-term direction. The company's treasury already includes 19.1 BTC, valued at approximately $2.1 million.
The strategic move comes as Thumzup pursues an aggressive expansion into cryptocurrency mining and treasury operations. Under the terms of a recent agreement, the company plans to rename itself "Dogehash Technologies Holdings, Inc." and trade on the Nasdaq under the new symbol "XDOG." Thumzup estimates its planned 3,500 dogecoin mining rigs will fetch $22.7 million in annual revenue.
This latest Dogecoin acquisition reinforces Thumzup's transformation from a traditional media company into a major player in the cryptocurrency space. The purchase highlights Dogecoin's appeal due to its mix of speed, low cost, and growing institutional acceptance as companies increasingly diversify their treasury holdings with digital assets.
The acquisition follows Thumzup's all-stock purchase of Dogehash Technologies, which will establish what the company claims will be the world's largest Dogecoin mining platform. Dogehash currently operates approximately 2,500 Scrypt ASIC miners across North American facilities focused on renewable energy infrastructure. The combined entity plans to leverage innovative Layer-2 DeFi staking mechanisms within the DogeOS ecosystem to enhance mining economics beyond traditional block rewards, with CEO Parker Scott emphasizing their focus on mining infrastructure rather than speculative trading to create an ongoing, sustainable source of Dogecoin.
