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Thumzup Media Signs Deal to Acquire DogeHash, Pivoting to Large-Scale Dogecoin Mining

Shareholder approval is still required for the all-stock purchase.

Overview

  • The Nasdaq-listed firm disclosed a definitive agreement that would add DogeHash’s 2,500 active rigs plus 1,000 on order, totaling about 3,500 Dogecoin miners.
  • Management said it bought $1 million in bitcoin and authorized holdings in Dogecoin, Litecoin, Solana, XRP, ether and USDC for its treasury.
  • Company estimates using Bitmain Antminer calculators project $22.7 million to $51.6 million in annual revenue at current prices, with outcomes dependent on token markets and rig specifications.
  • Thumzup strengthened liquidity with a $50 million all-stock raise at $10 per share and entered a Coinbase Prime credit and custody facility, alongside forming a crypto advisory board.
  • The firm said its AdTech platform remains active, reporting more than 34,000 paid posts across roughly 1,000 advertiser locations.