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Thumzup Lends $2.5 Million to DogeHash to Speed 500+ Miner Rollout Ahead of Pending Acquisition

The move advances Thumzup’s balance-sheet-to-mining strategy, with the DogeHash share swap still subject to approvals.

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Thumzup injects $2.5 million into dogehash to expand dogecoin mining fleet

Overview

  • Thumzup’s $2.5 million loan is intended to fund deployment of more than 500 new Scrypt ASICs, targeting an operational fleet exceeding 4,000 rigs by year-end.
  • DogeHash reports about 2,500 rigs running today with at least 1,000 additional units already scheduled for delivery.
  • The financing is tied to a pending all-stock acquisition, with DogeHash holders reportedly set to receive roughly 30.7 million Thumzup shares and a rebrand and new ticker contemplated after closing.
  • Thumzup has been building a crypto treasury, disclosing roughly 19 BTC and about 7.5 million DOGE, alongside a recently authorized $10 million share repurchase program.
  • Initial market reaction was modest, with TZUP up about 2.4% and DOGE little changed, as execution and approval risks around hardware delivery, power procurement and deal closing remain.