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LOS ANGELES - Thumzup Media Corporation (NASDAQ:TZUP), currently trading at $5.58 with a market capitalization of $161 million, announced Wednesday the appointment of Alex Hoffman to its newly formed Crypto Advisory Board as the company expands its focus on digital assets. According to InvestingPro data, the stock has shown significant volatility, with a 52-week range of $2.02 to $16.49.
Hoffman currently serves as Head of Ecosystem at DogeOS, the Dogecoin app layer, where he leads ecosystem development, partnerships, and growth strategy. He has been active in the cryptocurrency industry since 2011 and has launched several blockchain projects including Superposition Finance and Moveposition.
In his advisory role, Hoffman will support Thumzup’s plans to align its mining operations with DogeOS-powered yield strategies, including staking and DeFi integrations.
"I’m honored to join the Crypto Advisory Board," Hoffman said in a statement. "Thumzup’s pending merger with Dogehash and its commitment to putting Dogecoin to work through DogeOS make it a meaningful contributor to the next phase of Dogecoin adoption."
The appointment follows Thumzup’s recently announced proposed acquisition of Dogehash, which operates approximately 2,500 Scrypt ASIC miners across three data centers in North America. The acquisition will be put to a shareholder vote later this year.
Thumzup also recently completed a $50 million capital raise at $10 per share to support its digital asset growth initiatives.
Robert Steele, Chief Executive Officer of Thumzup, stated that the company plans to attract more blockchain leaders and expand industry alliances to accelerate development of its digital assets business.
The information in this article is based on a press release statement from Thumzup Media Corporation.
In other recent news, Thumzup Media Corporation announced plans to acquire Dogehash Technologies in an all-stock transaction valued at 30.7 million shares. This merger, expected to finalize in the fourth quarter, will lead to the renaming of the combined entity to "Dogehash Technologies Holdings, Inc." Additionally, Thumzup has expanded its strategic relationship with Coinbase to bolster its cryptocurrency accumulation and mining efforts. The company recently completed a $50 million capital raise, which will be directed toward cryptocurrency mining infrastructure and blockchain investments. Thumzup closed this public offering at $10 per share, generating gross proceeds before deducting fees. The offering will support the acquisition of mining equipment and diversification of cryptocurrency holdings. Prior to this, Thumzup had priced a $46.5 million public offering, including common stock and pre-funded warrants. These developments highlight Thumzup’s strategic shift towards cryptocurrency mining and expansion of its digital asset strategy.
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