In line with a shareholder letter, Thumzup Media accomplished a $50 million widespread inventory providing at $10 per share and laid out a two-part plan: develop into Dogecoin mining and put chosen cryptocurrencies into a company treasury.
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Thumzup Raises $50 Million
The brand new money will assist fund a pending acquisition of Dogehash Applied sciences, a deal that requires Thumzup to difficulty 30.7 million shares to Dogehash shareholders.
As soon as the transaction closes, the mining agency is about to be renamed Dogehash Applied sciences Holdings and is predicted to commerce on Nasdaq underneath the XDOG ticker. A part of the raised cash will purchase 1,000 mining machines, firm officers mentioned.
Thumzup CEO @stlrbrt issued a shareholder letter outlining our strategic transformation into a pacesetter in cryptocurrency mining. This daring transfer is supported by a pending acquisition of DogeHash Applied sciences, a devoted Dogecoin mining firm.
Study extra about this strategic… pic.twitter.com/fvzs4W4p4u
— Thumzup Media Company (@thumz_up) September 4, 2025
Dogecoin Mining Push
Experiences 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. Nonetheless, the plan is in movement and will likely be watched intently by buyers.
XRP Included In Company Treasury
Past rigs and a Nasdaq plan, Thumzup mentioned its board has authorised constructing a diversified crypto treasury that can embody XRP. Different belongings named have been Dogecoin, Solana, Ethereum, Litecoin and stablecoin USDC.
No agency numbers got on how a lot of any token will likely 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.
Firms Including XRP To Reserves
Based mostly on studies from different companies, Thumzup isn’t alone. Webus Worldwide introduced a $300 million XRP treasury plan in June. VivoPower, which raised $121 million from buyers that embody Saudi backers, has additionally mentioned utilizing a part of that funding to carry XRP.
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Trident Digital has mentioned it intends to construct a $500 million XRP reserve. These strikes are being watched by market contributors as a result of they modify how some companies take into consideration holding crypto on their steadiness sheets.
Traders will search for three gadgets. 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 corporate 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
