Thumzup Media buys $2M in Dogecoin, plans 3,500 mining rigs and $250M crypto vault. Trump Jr. owns 350k shares of TZUP.

Thumzup Media acquires $2M in Dogecoin, expands crypto strategy

Thumzup Media Corporation (Nasdaq: TZUP) announced its first Dogecoin market entry on Thursday, purchasing about 7.5 million tokens worth nearly $2 million at an average price of $0.2665.

DOGE mining entry

Earlier this month, the company said it planned to install 3,500 Dogecoin mining rigs by the end of the year through its planned acquisition of Dogehash. In parallel, the management team is being strengthened: DogeOS CEO and MyDoge leader Jordan Jefferson and DogeOS ecosystem leader Alex Hoffman have joined the Crypto Advisory Board.

Strengthening crypto holdings

In January, Thumzup created its own crypto vault with $1 million in bitcoin. In July, the company’s board of directors allowed it to expand this portfolio to $250 million. At the same time, it was revealed that Donald Trump Jr., the son of the US president, owns 350,000 shares of Thumzup, purchased on the advice of an investment advisor. Bloomberg clarified that he has no other stake in the company.

Financial background

In August, Thumzup raised $50 million by selling shares for $10 apiece. However, the company’s quotes remain volatile: on Wednesday, the shares fell by 7.7% to $4.61, but after the announcement of the acquisition of DOGE, they grew by 4.5% in over-the-counter trading.

Dogecoin as a Cultural and Market Phenomenon

Created in 2013 as a joke, Dogecoin has become one of the most popular tokens in the world thanks to an active community and the support of prominent investors, including Elon Musk. Today, its market capitalization exceeds $35 billion, and its use in payments and exchange products is growing. The interest of public companies such as Thumzup emphasizes that the meme token is gradually becoming a real tool in corporate crypto strategies.