Thumzup Media moves into crypto, adding 3,500 Dogecoin rigs after $1M Bitcoin buy and $50M stock raise.
Thumzup Media Corporation is shifting its focus from digital advertising to large-scale cryptocurrency mining. The company announced its plans after securing $50 million through a recent all-common stock offering at $10 per share. Thumzup is also preparing to close its acquisition of DogeHash Technologies, which adds 3,500 Dogecoin mining rigs to its operations.
Transition Into Cryptocurrency Mining
Thumzup began its move into digital assets earlier this year with a $1 million Bitcoin purchase in January. A second $1 million Bitcoin investment followed shortly after, supported by a positive response from shareholders. The company’s board has since authorized holding additional cryptocurrencies such as Dogecoin, Litecoin, Solana, Ripple, Ether, and USD Coin.
In August, Thumzup signed agreements to acquire DogeHash Technologies. The mining firm currently operates 2,500 Dogecoin mining rigs, with 1,000 more scheduled for delivery by year-end. Thumzup stated that this acquisition will create a new business unit centered on utility-scale Dogecoin mining.
The company expects the rigs to generate substantial mining revenue depending on Dogecoin market prices. Estimates using Bitmain’s Antminer L9 performance suggest annual revenue potential of over $22 million at current Dogecoin levels. Thumzup believes this operation could surpass the growth prospects of its advertising platform.
Expansion Strategy and Financial Position
To support its mining expansion, Thumzup raised $6.5 million in June 2025 at $6 per share from strategic investors. In early August, the company completed a $50 million raise through Dominari Securities, further strengthening its balance sheet. These funds are earmarked for mining infrastructure growth and digital asset accumulation.
Thumzup reported that it now maintains over $50 million in cash with a relatively low burn rate. The company is also working with Coinbase Prime to access institutional trading, custody services, and a Bitcoin-backed credit facility. This partnership provides Thumzup with greater financial flexibility while scaling its mining operations.
Executives said that the pending acquisition will diversify Thumzup’s revenue base while offering exposure to the $10.5 billion cryptocurrency mining industry. According to Business Research Insights, this sector is projected to grow at an annual rate of 8.9% to $22.6 billion by 2035.
Parallel Growth of Advertising Platform
While cryptocurrency has become a central focus, Thumzup’s AdTech platform continues to grow. By August 2025, the platform had recorded more than 34,000 paid social media posts. It also surpassed 1,000 advertiser locations using the service, showing continued demand for user-generated marketing content.
The company is exploring tiered packages, premium analytics, and possible strategic alternatives to strengthen the advertising segment. Thumzup’s management noted that this business line remains part of its long-term strategy. However, the cryptocurrency unit may soon drive a larger share of future revenue.
Thumzup has also created a crypto advisory board and appointed Alex Hoffman, head of ecosystem at DogeOS, as its first member. Hoffman’s role is to advise on Dogecoin ecosystem development and new applications that may expand digital asset utility.
With 3,500 mining rigs planned, $1 million invested in Bitcoin, and partnerships for financial services, Thumzup is positioning itself to scale within the cryptocurrency sector. The company stated that shareholder approval of the DogeHash acquisition will be the next step in its transformation.
