A media company with ties to the Trump family has announced plans to abandon its advertising business and reinvent itself as a crypto miner.
Thumzup Media Corporation said it will merge with DogeHash Technologies, a mining operator, to become one of the few publicly listed firms devoted to large-scale Dogecoin production. The move follows a $50 million share sale in August that provided new capital for expansion.
Scaling Up Mining Capacity
The merger centres on Dogecoin mining rigs already in operation. Thumzup disclosed that it has secured 2,500 Bitmain Antminers and placed an order for another 1,000, which will bring the total to 3,500 machines.
At the current Dogecoin price of about $0.21, executives expect the machines to generate close to $23 million annually. Should Dogecoin ever rise to $1, projected yearly revenue could surpass $100 million.
The forecast was included in a recent letter to shareholders that sought to highlight the upside of the pivot.
Dogecoin vs. Bitcoin Economics
Company executives claim that the issue is profitability, as opposed to Bitcoin Dogecoin, My Miners Inc. reports Dogecoin mining is almost three times more profitable than Bitcoin mining due to lower energy costs and larger margins.
KuCoin, another market participant, recently said it plans to capture 10% of the entire Dogecoin mining market, even more underscoring the attention to this market.
Building a Digital Treasury
Alongside its mining operations, Thumzup has approved a strategy to hold a diversified set of digital assets on its balance sheet. The assets include Dogecoin itself, Bitcoin, Litecoin, Solana, XRP, Ether, and the USDC stablecoin.
Current disclosures show holdings of about 19 BTC, worth roughly $2.1 million. Executives say this multi-asset approach is designed to provide flexibility while supporting the core mining business.
Trump Family Ties
The Trump family connection has drawn particular attention. In July, Donald Trump Jr. disclosed the purchase of 350,000 shares in Thumzup. Meanwhile, Dominari Securities, an investment bank linked to the family, has played a key role in funding the company’s pivot toward crypto mining.
The involvement of political figures has added weight to a story already drawing interest because of its unusual business transformation.
Market Reaction
Investors appear cautiously optimistic, and Thumzup shares rose over 5% on Thursday to close at $5.57. While the stock remains well below its August peak of more than $15, it is still up more than 60% since the beginning of 2025.
Market watchers say the price action shows a mix of scepticism and curiosity about whether a small media firm can succeed as a large-scale Dogecoin miner.
Also Read: Social App Thumzup Raises $50M To Build Crypto Mining And Expand Coin Holdings