Trump-Backed Thumzup to Add 3,500 DOGE Mining Rigs

Thumzup Media, the Nasdaq-listed firm backed by Donald Trump Jr., is making a significant guess on retail favorite dogecoin DOGE$0.2206 with plans to deploy 3,500 Dogecoin mining rigs by year-end.

The growth is predicted to come by a pending acquisition of Dogehash, a miner centered on the Scrypt algorithm that secures each Dogecoin and Litecoin.

Scrypt is particularly designed to make it pricey to carry out large-scale customized {hardware} assaults by requiring giant quantities of reminiscence.

According to its newest shareholder letter, Thumzup intends to purchase Dogehash’s current 2,500-rig fleet and add one other 1,000 rigs earlier than December, contingent on shareholder approval of the all-stock deal.

“Cryptocurrency mining presents what could be one of the greatest opportunities for value creation in the industry,” the corporate mentioned, projecting “material” high-margin income from the combination.

Revenue estimates vary from $22.7 million at present DOGE costs to greater than $100 million if the token reaches $1. Dogecoin was buying and selling close to 22 cents on Friday, having remained little modified over the previous 24 hours.

Thumzup’s pivot into crypto comes simply months after it seeded a $1 million bitcoin place for its treasury in January. The agency has since expanded its mandate to embody Dogecoin, Litecoin, Solana, XRP, ether and USDC, with board approval granted in current weeks.

The transfer displays a broader shift amongst small-cap companies trying to mix crypto publicity with conventional operations. While MicroStrategy has dominated headlines with its bitcoin-heavy stability sheet, Thumzup’s technique leans towards diversification and direct mining income on comparatively smaller tokens.

Dogecoin mining has traditionally been much less worthwhile than bitcoin due to decrease token worth and Scrypt’s dynamics, however rising memecoin adoption has sparked new curiosity. Pairing Litecoin and Dogecoin mining additionally permits operators to hedge output throughout two actively traded belongings.

If the rigs go reside as projected, Thumzup will turn into one of many largest public Dogecoin miners, positioning itself squarely inside a market phase typically dismissed as speculative however more and more embraced by retail flows.