According to a recent communication to shareholders, Thumzup Media has successfully completed a $50 million offering of its common stock, priced at $10 per share. The company has also outlined a strategic initiative that involves expanding its operations into Dogecoin mining and allocating certain digital currencies to its corporate treasury.
Thumzup Secures $50 Million Investment
The newly acquired capital is earmarked to facilitate the proposed acquisition of Dogehash Technologies. As part of the acquisition agreement, Thumzup is expected to issue 30.7 million shares to the current Dogehash stakeholders.
Upon finalization of the deal, the mining entity is anticipated to undergo a name change to Dogehash Technologies Holdings and secure a Nasdaq listing under the ticker symbol XDOG. Company sources have stated that a portion of the funds raised will be used to purchase 1,000 mining machines.
Thumzup CEO @stlrbrt issued a shareholder letter outlining our strategic transformation into a leader in cryptocurrency mining. This bold move is supported by a pending acquisition of DogeHash Technologies, a dedicated Dogecoin mining company.
Learn more about this strategic… pic.twitter.com/fvzs4W4p4u
— Thumzup Media Corporation (@thumz_up) September 4, 2025
Expanding into Dogecoin Mining Operations
Reports indicate that Thumzup characterized its entry into Dogecoin mining as a bold and forward-thinking maneuver. This initiative is designed to integrate digital asset mining with the dynamics of capital markets. Some aspects of the plan are still pending clarification.
Specifically, the shareholder communication did not provide a definitive timeline for the rebranding and Nasdaq listing, nor did it specify the delivery schedule for the 1,000 mining machines. Nevertheless, the strategy is underway and is being closely monitored by investors.
XRP Included In Corporate Treasury
Beyond the acquisition of mining infrastructure and plans for a Nasdaq listing, Thumzup has announced that its board has approved the establishment of a diversified cryptocurrency treasury, including XRP. Other digital assets slated for inclusion are Dogecoin, Solana, Ethereum, Litecoin, and the stablecoin USDC.
The company has not disclosed the exact quantities of each cryptocurrency that will be held. However, the treasury plan follows previous investments in Bitcoin, with Thumzup allocating $1 million in January and a subsequent $1 million investment later in the same month.
Companies Adding XRP To Reserves
Thumzup is part of a broader trend, with other companies also considering XRP for their reserves. Webus International revealed its plans for a $300 million XRP treasury in June. VivoPower, which raised $121 million from investors, including entities from Saudi Arabia, has also expressed interest in utilizing a portion of its funding to acquire XRP.
Trident Digital has voiced its intention to establish a $500 million XRP reserve. These developments are being carefully observed by market participants as they represent a shift in how certain organizations are approaching cryptocurrency holdings on their balance sheets.
Investors will be paying attention to several key developments. First, the successful completion of the Dogehash transaction and the 30.7 million-share exchange. Second, the timely delivery and deployment of the 1,000 mining units. Third, any regulatory filings or announcements that detail the specific amounts of cryptocurrency that Thumzup will allocate to its treasury and the timing of those acquisitions.
The company has aligned its strategic vision with the stated support of former U.S. President Donald Trump for promoting cryptocurrency activity within the United States, a point emphasized in the shareholder communication.
Featured image from Unsplash, chart from TradingView