According to a shareholder letter, Thumzup Media accomplished a $50 million widespread inventory providing at $10 per share and laid out a two-part plan: broaden into Dogecoin mining and put chosen cryptocurrencies into a company treasury.
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Thumzup Raises $50 Million
The new money will assist fund a pending acquisition of Dogehash Technologies, a deal that requires Thumzup to subject 30.7 million shares to Dogehash shareholders.
Once the transaction closes, the mining agency is about to be renamed Dogehash Technologies Holdings and is predicted to commerce on Nasdaq below the XDOG ticker. Part of the raised cash will purchase 1,000 mining machines, firm officers stated.
Thumzup CEO @stlrbrt issued a shareholder letter outlining our strategic transformation into a frontrunner in cryptocurrency mining. This daring transfer is supported by a pending acquisition of DogeHash Technologies, a devoted Dogecoin mining firm.
Learn extra about this strategic… pic.twitter.com/fvzs4W4p4u
— Thumzup Media Corporation (@thumz_up) September 4, 2025
Dogecoin Mining Push
Reports have disclosed that Thumzup described the mining effort as aggressive. The transfer ties mining belongings and capital markets collectively in a single package deal. Some particulars stay unclear.
For instance, the timetable for renaming and itemizing, and the precise supply schedule for the 1,000 rigs, weren’t spelled out within the letter. Still, the plan is in movement and might be watched carefully by traders.
XRP Included In Corporate Treasury
Beyond rigs and a Nasdaq plan, Thumzup stated its board has authorized constructing a diversified crypto treasury that can embody XRP. Other belongings named have been Dogecoin, Solana, Ethereum, Litecoin and stablecoin USDC.
No agency numbers got on how a lot of any token might be held. What was revealed is that this treasury plan follows earlier cryptocurrency buys: Thumzup invested $1 million in Bitcoin in January after which made an extra $1 million buy later that month.
Companies Adding XRP To Reserves
Based on experiences from different corporations, Thumzup just isn’t alone. Webus International introduced a $300 million XRP treasury plan in June. VivoPower, which raised $121 million from traders that embody Saudi backers, has additionally mentioned utilizing a part of that funding to carry XRP.
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Trident Digital has stated it intends to construct a $500 million XRP reserve. Those strikes are being watched by market contributors as a result of they alter how some corporations take into consideration holding crypto on their steadiness sheets.
Investors will search for three objects. First, whether or not the Dogehash deal closes and the 30.7 million-share alternate is accomplished. Second, the precise supply and deployment of the 1,000 mining items. Third, any filings or bulletins that present how a lot crypto Thumzup will place into its treasury and when these purchases happen.
The firm framed its technique as in step with US President Donald Trump’s acknowledged help for reinforcing American crypto exercise, a political level that the agency used within the shareholder letter.
Featured picture from Unsplash, chart from TradingView
