Thumzup Media Corporation (TZUP), backed by Donald Trump Jr., has made a rapid entrance into the cryptocurrency market. In its latest shareholder letter, the company announced that it has purchased $1 million in Bitcoin and has also authorized investments in cryptocurrencies such as DOGE, LTC, SOL, XRP, ETH, and USDC. This move is part of Thumzup's plan to transform from a mere media and advertising technology company into a major player in crypto mining.
Starting with 2,500 Dogecoin miners
The company announced that it has signed a definitive acquisition agreement with Dogehash Technologies, a Dogecoin mining company. As part of this acquisition, Thumzup is adding 2,500 mining devices and plans to take delivery of an additional 1,000 by the end of the year. This fleet of 3,500 devices aims to make Thumzup one of the leading Dogecoin miners in North America. According to the company's calculations, at the current DOGE price of $0.22, this operation could generate approximately $22.7 million in annual revenue. If the price rises to $0.50, revenue could exceed $51.6 million, and if it rises to $1, it could exceed $100 million.
$50 Million Capital Increase
To support this growth plan, Thumzup issued $50 million worth of shares in August 2025. This transaction, priced at $10 per share, strengthened the company's balance sheet and facilitated strategic partnerships with crypto finance experts such as Dominari Securities. The company currently holds more than $50 million in cash on its balance sheet.
A New Vision with a "Crypto Treasury Strategy"
Thumzup's board of directors plans to incorporate various crypto assets, in addition to Dogecoin, into its long-term treasury strategy. This could include Bitcoin, Ethereum, Solana, XRP, Litecoin, and USDC. Additionally, thanks to its agreement with Coinbase Prime, the company gained access to Bitcoin-backed loans and institutional-grade custody services.
From ad tech to crypto mining
Thumzup was originally active in social media advertising when it went public on Nasdaq last year. It had developed a platform that allowed Instagram and TikTok users to generate revenue directly from brands. However, the company's focus on crypto demonstrates its shift beyond this business model and the adoption of a completely different growth strategy. Nevertheless, Thumzup emphasized that its ad tech business is growing steadily and that new subscription models are being developed.
Heavy competition in Dogecoin mining
The crypto mining sector is rapidly growing. Currently, more than 40 publicly traded crypto mining companies are operating. Leading companies include MARA Holdings ($5.6 billion market capitalization), CleanSpark ($4.5 billion), and Riot Platforms ($3 billion). Thumzup's goal is to become a leader in this competitive market focused on Dogecoin. The company cited the Donald Trump administration's vision of "making the US the crypto capital," stating that it has both US political support and investor interest behind it.
