Thumzup Media Boosts Dogecoin Treasury with $2 Million Acquisition
Thumzup Media boosts Dogecoin treasury with $2M acquisition, expanding mining, infrastructure, and positioning for long-term memecoin market leadership.
Thumzup Media Corporation has taken another bold step in its transition from a social media platform to a crypto-focused business. The company in Los Angeles has announced a new acquisition of DogeCoin, increasing its treasury by 7.5 million DOGE. The purchase, which is worth about $2 million, was revealed in a recent filing with the U.S. Securities and Exchange Commission.
Thumzup Shifts Focus to Dogecoin After Bitcoin Treasury Launch
This move is Thumzup’s first Dogecoin purchase in the open market. The average DOGE price of one token was approximately $0.2665. Despite the continued volatility in the broader crypto market, the company is clearly confident in the long-term value of the memecoin. In the last few months, Thumzup has released a series of announcements that indicate a further commitment to Dogecoin and mining operations.
Earlier this year, Thumzup launched its digital assets treasury with an initial investment of one million Bitcoin. However, Dogecoin has become the focus of attention. In August, the company agreed to purchase Dogehash Technologies, a North American mining company that owns and currently operates 2,500 Scrypt ASIC miners for Dogecoin and Litecoin. A total of an additional 1,000 rigs will be added by late 2025 as part of the deal.
Related Reading: CleanCore Secures $175M to Launch Dogecoin Treasury | Live Bitcoin News
The shareholders’ approval has been secured and Dogehash shareholders will be converted into 30.7 million Thumzup shares. The company will be rebranded to Dogehash Technologies Holdings after the merger and will start trading under the new ticker XDOG. This means a significant change in the identity and future of Thumzup.
Thumzup was founded back in 2020 as a platform where users would get rewarded for sharing branded content on social media. In the past year, it has quickly shifted gears and is now wanting to become a major player in the crypto space. This transformation is supported by sound financial steps and endorsements from prominent names like Donald Trump Jr.
Dogecoin Treasury Expansion Gains Momentum Amid ETF Speculation
In order to facilitate this transition, the company has also bolstered its executive team by bringing in new advisors to its advisory board. These additions are likely to lead the firm in its expansion into mining, treasury management, and infrastructural development.
The Dogecoin itself is attracting wide corporate attention as well. CleanCore Solutions has recently revealed that it now owns more than 500 million DOGE in its treasury. This achievement takes the company halfway towards its goal of 1 billion DOGE. The project is being led by the crypto division of CleanCore, House of Doge, and supported by the Dogecoin Foundation.
The market has also seen a boost from speculation about a potential Dogecoin ETF. And because of this fact, there has been more institutional interest in the coin. More businesses are looking at ways to get exposed to DOGE, either directly by buying it or through mining activities.
In conclusion, Thumzup’s $2 million Dogecoin purchase is more than just a financial transaction. It represents a long-term dedication to ensuring a strong Dogecoin ecosystem. By acquiring foundations, developing infrastructure, and growing the treasury, the company is preparing itself to be a key player in the future of memecoin-based finance.
También te puede interesar
Gary Gensler Insists His Crypto Enforcement Actions Were Justified
Solana Co-founder: Everything that generates income should have a token
