Thumzup Media, listed on Nasdaq and endorsed by Donald Trump Jr., has unveiled plans for a significant increase in Dogecoin mining capacity.
3,500 Devices Initiative
In a recent letter to shareholders, Thumzup Media announced plans to acquire 2,500 mining devices and install an additional 1,000 by the end of the year. This development comes as the company seeks approval to acquire Dogehash, which utilizes the Scrypt algorithm for mining Dogecoin and Litecoin. Upon completion of the acquisition, Thumzup Media expects to operate a total of 3,500 devices.
Thumzup Media's Cryptocurrency Strategy
In January, Thumzup Media made a significant entry into the cryptocurrency space with a $1 million investment in Bitcoin, shaping its crypto portfolio. The company, recently receiving board approval, has expanded to include Dogecoin, Litecoin, Solana, XRP, Ethereum, and USDC.
Dogecoin Market Impact on Company Shares
Thumzup Media’s shares closed with a 5.29% increase, valuing the stock at $5.57. This uptick was driven by the announcement regarding the Dogehash acquisition and the plans for new mining devices. Meanwhile, Dogecoin saw a 0.49% increase over the last 24 hours, currently trading at $0.2170 with a weekly gain of 10.2%.
Thumzup Media continues to pursue ambitious growth in the cryptocurrency sector, expanding its Dogecoin mining operations and strengthening its market position.
