Thumzup Invests $2.5M In DogeHash
Thumzup Invests $2.5M In DogeHash To Expand Dogecoin Mining Ahead Of Acquisition
Thumzup Media Corporation, an AdTech and crypto mining company linked to the Trump family, has invested $2.5 million in DogeHash Technologies, an industrial-scale Dogecoin mining firm.
The funding aims to strengthen DogeHash’s operations as Dogecoin’s mining difficulty hits all-time highs and analysts forecast bullish prospects for DOGE. With the new capital, DogeHash will deploy over 500 additional ASIC miners, raising its total to more than 4,000 machines by year-end, ahead of Thumzup’s planned acquisition of the company.
Thumzup’s Digital Asset Strategy
Donald Trump Jr. holds a significant stake in Thumzup. The company views its Dogecoin investment as part of a broader shift into digital assets. In June, Thumzup’s board approved adding at least six new cryptocurrencies to its reserves, alongside Bitcoin. This followed a $50 million stock issuance to strengthen its mining infrastructure.
According to a press release: “This investment follows Thumzup’s recent strategic initiatives, including adding DOGE to its treasury, launching a Crypto Advisory Board, and pursuing the pending acquisition of DogeHash Technologies. Together, these moves reinforce Thumzup’s vision to become a transformational leader in crypto mining and digital asset strategy.”
Rising Dogecoin Mining Difficulty And Market Outlook
Data from BitInfoCharts shows Dogecoin’s mining difficulty reached record highs in September, reflecting surging hash power and increased miner participation. DogeHash’s expansion is expected to boost competitiveness while positioning Thumzup to benefit if DOGE rallies.
Sources: BitInfoCharts
At present, DOGE trades at $0.23, down 68% from its all-time high, according to BeInCrypto Markets. Yet analysts remain optimistic about a breakout:
- Bitcoinsensus predicts DOGE could climb to $0.48 if it breaks out of its ascending triangle pattern.
- Another analyst suggested a “historic bull run” could push DOGE beyond $1.
- Trader Kamran Asghar pointed to past cycles (300% → 500% growth) and forecasted an 800% surge, potentially driving DOGE to $1.30.
Could DOGE Reach $1?
Despite volatility and being far from its peak, technical patterns suggest strong upside potential for Dogecoin. If forecasts materialize, Thumzup’s expansion into Dogecoin mining could allow the company to capitalize on a major price rally while strengthening its position in the crypto sector.
Sources: BeInCrypto Markets
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