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Trump Family-Affiliated Company Pumps $2.5M into Dogecoin Mining Expansion – $1 Doge Next?

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Thumzup Media Corporation has offered DogeHash Technologies with a $2.5 million mortgage to broaden Dogecoin mining capability forward of its pending acquisition of the mining agency.

The financing will assist deployment of greater than 500 new ASIC miners, doubtlessly bringing complete operational rigs to over 4,000 by year-end, based on a Tuesday announcement from the Nasdaq-listed digital asset accumulator.

The capital infusion follows Thumzup’s August agreement to acquire DogeHash in an all-stock deal that can create what executives describe as the world’s largest Dogecoin mining platform.

DogeHash shareholders will swap all holdings for 30.7 million Thumzup shares, with the mixed firm rebranding as DogeHash Technologies Holdings and buying and selling beneath ticker XDOG upon deal closure anticipated within the fourth quarter.

Thumzup gained consideration in July when Donald Trump Jr., son of President Donald Trump, purchased 350,000 shares worth nearly $3.3 million on the time.

The firm has quickly remodeled from a social media advertising agency into a crypto-focused operation since launching its digital asset technique in January with a $1 million Bitcoin buy.

From $50M Raise to 4,000 Mining Rigs in Six Months

Thumzup raised $50 million in August via a $10-per-share providing to fund large-scale crypto mining infrastructure and focused blockchain investments.

The firm’s board approved as much as $250 million in complete crypto holdings, together with Bitcoin, Dogecoin, Litecoin, Solana, XRP, Ether, and USDC.

DogeHash at the moment operates roughly 2,500 Scrypt ASIC miners throughout North American colocation websites, targeted on producing Dogecoin and Litecoin.

The new $2.5 million mortgage will add over 500 cutting-edge miners throughout what DogeHash CEO Parker Scott known as “a pivotal interval for the Dogecoin market.”

Thumzup CEO Robert Steele acknowledged the corporate is “obsessed with all of the current developments within the Dogecoin ecosystem” and appears ahead to constructing “a premier Doge mining firm collectively” with DogeHash.

The mixed entity plans to leverage Dogecoin’s Layer-2 infrastructure via DeFi staking merchandise constructed into the DogeOS ecosystem.

In September, Thumzup purchased approximately 7.5 million Dogecoin tokens for $2 million at a weighted common value of $0.2665, marking its first open-market DOGE acquisition.

The firm now holds 19.106 Bitcoin and round 7.5 million Dogecoins in its treasury.

Thumzup appointed Jordan Jefferson, CEO and co-founder of DogeOS and head of Dogecoin pockets MyDoge, to its Crypto Advisory Board alongside DogeOS government Alex Hoffman.

Jefferson, whose platform is backed by Polychain Capital, has been energetic in Bitcoin and blockchain growth since 2011.

The firm additionally launched a $10 million share buyback program in September, which can prolong via December 2026, following the completion of a $1 million repurchase that purchased again 212,432 shares at a mean value of $4.71.

Shares climbed 5.7% to $4.81 following the announcement, giving Thumzup a market cap of roughly $78 million.

Trump Family Crypto Empire Expands Across Mining and Memecoins

The Trump household has quickly constructed intensive crypto holdings throughout a number of ventures.

American Bitcoin, co-founded by Eric Trump and backed by Donald Trump Jr., surged 110% at its September debut following an all-stock merger with Nasdaq-listed Gryphon Digital Mining, giving the corporate a $7.7 billion market worth.

At peak costs, the brothers’ mixed stake was briefly price $2.6 billion earlier than closing at round $1.5 billion.

At that point, American Bitcoin operates roughly 6,000 mining computer systems and entered into a $2.1 billion managed inventory providing with Cantor Fitzgerald and Mizuho Securities to amass extra Bitcoin and improve mining know-how.

Eric Trump predicted on the Bitcoin 2025 Asia convention in Hong Kong that Bitcoin would finally attain $1 million, stating, “all people desires Bitcoin, all people is shopping for Bitcoin.”

Trump Media & Technology Group raised $2.5 billion in May to construct an enormous Bitcoin Treasury, and most just lately launched a brand new $6.42 billion digital asset treasury company in partnership with Crypto.com.

The household’s ventures additionally embody NFT buying and selling playing cards, two memecoins, and the Truth Social Bitcoin ETF.

However, whereas bullish for the crypto neighborhood, the household’s crypto ventures have drawn criticism from Democratic lawmakers and ethics consultants concerning potential conflicts of curiosity.

Thumzup’s inventory is up 3.80% to $5.00 on Wednesday following the announcement of its growth. Dogecoin additionally rose almost 1% to $0.23 on the identical time.

The put up Trump Family-Affiliated Company Pumps $2.5M into Dogecoin Mining Expansion – $1 Doge Next? appeared first on Cryptonews.

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