Investment firm Thumzup, with connections to Trump, acquires $50 million, integrates Dogecoin mining with plans for XRP usage.
Thumzup Media, a media company, has announced its strategic transformation into a leader in cryptocurrency mining. The company plans to acquire Dogehash Technologies, a dedicated Dogecoin mining company, which is expected to trade on Nasdaq under the XDOG ticker once the deal closes.
As part of the acquisition, Dogehash Technologies will be renamed Dogehash Technologies Holdings. The acquisition will issue 30.7 million shares to Dogehash shareholders. This transformation is supported by a planned purchase of 1,000 mining machines, part of the funds raised by Thumzup Media in a recent offering.
Thumzup Media's CEO, @stlrbrt, issued a shareholder letter outlining the strategic shift. The CEO emphasised the consistency of the strategy with US President Donald Trump's stated support for boosting American crypto activity.
In addition to Dogecoin, Thumzup Media plans to include XRP, Solana, Ethereum, Litecoin, and stablecoin USDC in its corporate treasury. However, no firm numbers have been given on how much of any token will be held in Thumzup's crypto treasury.
Another important event investors will watch is the actual delivery and deployment of the 1,000 mining units. Any filings or announcements that show how much crypto Thumzup will place into its treasury and when those purchases occur will be closely monitored.
Interestingly, no companies have publicly announced plans to establish an XRP treasury specifically between June 2025 and October 2025. However, Ripple's CEO Brad Garlinghouse announced in August 2025 that an XRP spot ETF might be approved by the US SEC by October 2025, which could allow institutional investments in XRP.
Meanwhile, VivoPower, another company, has discussed using part of the $121 million it raised from investors to hold XRP. Trident Digital also intends to build a $500 million XRP reserve.
Thumzup Media's expansion into Dogecoin mining and its plans to include XRP in its corporate treasury are key events that are generating significant interest among investors. The successful deployment of the mining units and the strategic management of Thumzup's crypto treasury will be crucial factors in determining the success of this strategic transformation.
