Trump Jr.-Linked Firm Targets Dogecoin Mining Crown With $50M War Chest
Nasdaq-listed Thumzup Media Corporation (TZUP) has staked out an aggressive pivot from adtech into crypto infrastructure, unveiling a shareholder letter that particulars a $50 million all-common inventory increase at $10 per share, a pending acquisition of DogeHash Technologies, and an specific bid to turn out to be North America’s main Dogecoin miner.
In the letter, the corporate says the deal would add 2,500 lively Scrypt miners with 1,000 further rigs on order, framing the transfer as a step-change in scale for a newly crypto-focused stability sheet. “Ambitious imaginative and prescient to dominate as North America’s main Dogecoin miner,” the letter states, summarizing the purpose line for its capital and M&A technique.
Thumzup’s $50 Million Dogecoin Mining Push
The Trump household connection just isn’t incidental to the capital stack behind this pivot. In July, a Thumzup shelf registration recognized Donald J. Trump Jr. as a promoting stockholder for 350,000 shares—disclosure that formalized his fairness hyperlink to the corporate. The fundraising that now underwrites Thumzup’s crypto growth was dealt with by Dominari Securities; notably, Donald Trump Jr. and Eric Trump joined the advisory board of Dominari Holdings, Dominari Securities’ mum or dad, earlier this 12 months, based on filings and contemporaneous reporting.
Regulatory filings present the DogeHash deal is structured as a change-of-control transaction. Under an August 19 Agreement and Plan of Merger, Thumzup will probably be renamed Dogehash Technologies Holdings, Inc.; at closing, it’ll concern 30.7 million restricted widespread shares to DogeHash shareholders, topic to shareholder approval below Nasdaq guidelines (together with the 19.99% issuance threshold), Nasdaq’s personal approval, a equity opinion, and customary closing situations. “The mixed firm goals to turn out to be the world’s main Dogecoin mining platform,” the 8-Ok states. Media protection has advised the post-merger ticker may very well be “XDOG,” although that image has not been codified within the SEC submitting.
While Thumzup’s letter reads unabashedly bullish on scrypt economics, the income math it presents is explicitly illustrative. Citing Bitmain’s specs for L9-class miners (16 GH/s, ~3,360W), the corporate fashions that 3,500 models might produce annual income of about $22.7 million at $0.22 per DOGE, scaling to ~$103.2 million if DOGE have been to commerce at $1. “Actual outcomes could range,” the letter cautions. It additionally emphasizes the plan to increase the fleet with proceeds from the $50 million providing, which it says left the agency with “greater than $50 million in money and [a] comparatively small burn price.”
The shareholder letter additionally situates Thumzup’s pivot in a broader coverage second, crediting a extra crypto-forward US stance and laying out a treasury technique that started with $1 million in Bitcoin purchases in January and a second $1 million allocation later that month. However, these themes are introduced as the corporate’s personal framing of tailwinds; the binding info for traders stay the capital increase, the construction and situations of the DogeHash merger, and the operational footprint Thumzup intends to assemble round Dogecoin and Litecoin mining.
On Thursday in Europe, Dogecoin was altering arms close to $0.2198, a degree that—if sustained—would anchor Thumzup’s personal “current-price” state of affairs towards the decrease finish of its income illustration.
“With the capital we have already got, we imagine we will develop that enterprise and drive vital worth for our shareholders,” CEO Robert Steele writes, closing a letter that—if traders approve the share issuance and Nasdaq clears the management modifications—would recast Thumzup as a public-market automobile for Dogecoin-first industrial mining.
