US-based Thumzup Media Corporation, of which Donald Trump's son, Donald Trump Jr., is a shareholder, continues to demonstrate its belief in Dogecoin with concrete steps. In an announcement made alongside TZUP shares traded on Nasdaq, the company announced the purchase of approximately 7.5 million Dogecoins on the open market for the first time. The total value of this purchase is reported to be approximately $2 million, with an average cost of $0.2665.
This strategic move coincides with the expected launch of the first exchange-traded funds (ETFs) for Dogecoin. According to experts, DOGE ETFs could significantly increase the cryptocurrency's recognition and accessibility among institutional investors. Thumzup CEO Robert Steele described this development as "a new milestone in Dogecoin's transformation beyond a community currency into a productive digital asset."
The DogeHash acquisition marked a mining offensive
The company aims to strengthen its commitment to Dogecoin not only through acquisitions but also on the mining side. Thumzup recently announced that it has begun negotiations to acquire DogeHash, a Dogecoin miner. In addition to DogeHash's existing 2,500 advanced mining devices, it has an order for 1,000 new devices expected to be delivered by the end of the year. This investment is expected to significantly increase the company's Dogecoin production capacity.
Thumzup's expansion is supported by a $50 million stock offering in August 2025. This capital increase, priced at $10 per share, is being used for cryptocurrency acquisitions and mining equipment investments.
New members join the advisory board
The company is also strengthening its management team with crypto veterans. Jordan Jefferson, CEO of DogeOS and leader of MyDoge, and Alex Hoffman, a key figure in the DogeOS ecosystem, have joined Thumzup's Crypto Advisory Board. Jefferson and Hoffman's expertise in Dogecoin and the broader crypto ecosystem is expected to contribute to the company's strategic roadmap.
A Broader Crypto Portfolio
In addition to these Dogecoin-focused steps, Thumzup is also including other leading cryptocurrencies in its treasury strategy. The company's plans include adding crypto assets such as Bitcoin, Ethereum, Solana, Litecoin, Ripple, and USD Coin to the portfolio.
These steps come at a time when market perceptions of Dogecoin are changing. The anticipated DOGE ETFs, in particular, are considered one of the most powerful developments that could put Dogecoin on the radar of institutional investors in the long term, after Bitcoin and Ethereum. From the perspective of the Dogecoin community and investors, Thumzup's multi-million dollar DOGE purchase and mining investment is a sign of growing confidence in the cryptocurrency's future. At the time of writing, the DOGE price is around $0.28.
