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Thumzup Media Corporation (TZUP) announced a strategic transformation into cryptocurrency mining through a pending acquisition of DogeHash Technologies, a Dogecoin mining company, according to a shareholder letter released by the company.
The digital marketing company raised $50 million in August 2025 through an all-common stock offering at $10 per share via Dominari Securities. This followed earlier investments of $2 million in Bitcoin in January 2025 and a $6.5 million raise at $6 per share in June.
The DogeHash acquisition, subject to shareholder approval, includes a mining operation with 2,500 active mining rigs and 1,000 additional miners on order. The company estimates that 3,500 similar miners could generate annual revenues ranging from $22.7 million to $103.2 million, depending on Dogecoin prices between $0.22 and $1.00 per coin.
Thumzup’s board authorized holdings in multiple cryptocurrencies including Bitcoin, Dogecoin, Litecoin, Solana, Ripple, Ether, and USD Coin. The company expanded its partnership with Coinbase Prime in May 2025, establishing a Bitcoin-backed credit facility.
The company appointed Alex Hoffman to its newly created crypto advisory board. Hoffman serves as head of ecosystem at DogeOS, the Dogecoin app layer.
MARA Holdings reported producing 208 blocks in August 2025 and currently holds over 52,000 Bitcoin. The company announced signing an investment agreement to acquire a 64% stake in Exaion, a subsidiary of EDF, with the option to increase ownership to 75% by 2027.
CleanSpark announced its Bitcoin treasury reached nearly 13,000 coins and doubled its hashrate over the past year. TeraWulf completed a $1 billion convertible notes offering in August.