Trump-Backed Thumzup to Add 3,500 Dogecoin Mining Rigs With Dogehash Deal

Thumzup Media, the Nasdaq-listed institution backed by Donald Trump Jr., is making a large stake connected retail favourite dogecoin (DOGE) with plans to deploy 3,500 Dogecoin mining rigs by year-end.

The enlargement is expected to travel done a pending acquisition of Dogehash, a miner focused connected the Scrypt algorithm that secures some Dogecoin and Litecoin.

Scrypt is specifically designed to marque it costly to execute large-scale customized hardware attacks by requiring ample amounts of memory.

According to its latest shareholder letter, Thumzup intends to bargain Dogehash’s existing 2,500-rig fleet and adhd different 1,000 rigs earlier December, contingent connected shareholder support of the all-stock deal.

“Cryptocurrency mining presents what could beryllium 1 of the top opportunities for worth instauration successful the industry,” the institution said, projecting “material” high-margin gross from the integration.

Revenue estimates scope from $22.7 cardinal astatine existent DOGE prices to much than $100 cardinal if the token reaches $1. Dogecoin was trading adjacent 22 cents connected Friday, having remained small changed implicit the past 24 hours.

Thumzup’s pivot into crypto comes conscionable months aft it seeded a $1 cardinal bitcoin presumption for its treasury successful January. The steadfast has since expanded its mandate to see Dogecoin, Litecoin, Solana, XRP, ether and USDC, with committee support granted successful caller weeks.

The determination reflects a broader displacement among small-cap firms looking to blend crypto vulnerability with accepted operations. While MicroStrategy has dominated headlines with its bitcoin-heavy equilibrium sheet, Thumzup’s strategy leans toward diversification and nonstop mining gross connected comparatively smaller tokens.

Dogecoin mining has historically been little profitable than bitcoin owed to little token worth and Scrypt’s dynamics, but rising memecoin adoption has sparked caller interest. Pairing Litecoin and Dogecoin mining besides allows operators to hedge output crossed 2 actively traded assets.

If the rigs spell unrecorded arsenic projected, Thumzup volition go 1 of the largest nationalist Dogecoin miners, positioning itself squarely wrong a marketplace conception often dismissed arsenic speculative but progressively embraced by retail flows.