Thumzup Announces $2.5 Million Capital Infusion into DogeHash Technologies to Expand its Dogecoin Mining Capacity

Rhea-AI Summary

Thumzup (NASDAQ:TZUP) has provided a $2.5 million loan to DogeHash Technologies to expand its Dogecoin mining operations. The funding, provided ahead of Thumzup's pending acquisition of DogeHash, will support the deployment of over 500 new ASIC miners, potentially increasing the total fleet to more than 4,000 mining rigs by year-end.

This strategic move aligns with Thumzup's recent initiatives in the cryptocurrency space, including DOGE treasury purchases and the establishment of its Crypto Advisory Board. The investment aims to strengthen Thumzup's position in the Dogecoin mining sector while supporting DogeHash's expansion of mining capacity.

Positive

• Strategic $2.5 million investment to expand Dogecoin mining capacity
• Addition of 500+ new ASIC miners, growing fleet to 4,000+ units
• Alignment with broader cryptocurrency strategy including DOGE treasury purchases
• Pre-acquisition funding demonstrates commitment to growth

Negative

• Significant capital expenditure ahead of completed acquisition adds financial risk
• Investment concentrated in volatile cryptocurrency mining sector

Insights

Cryptocurrency Mining Analyst

Thumzup's $2.5M investment in DogeHash accelerates their Dogecoin mining expansion strategy ahead of acquisition completion.

Thumzup's $2.5 million loan to DogeHash Technologies represents a strategic pre-acquisition investment to rapidly scale DogeHash's Dogecoin mining operations. This capital injection is expected to fund approximately 500 additional ASIC miners, potentially expanding DogeHash's fleet to over 4,000 mining rigs by year-end.

The timing is notable as it comes before Thumzup's acquisition of DogeHash is finalized, indicating confidence in the deal's completion and urgency to capitalize on current market conditions. This approach allows DogeHash to maintain momentum and avoid operational delays during the transition period.

From a technical perspective, the expansion focuses specifically on ASIC (Application-Specific Integrated Circuit) miners, which are purpose-built for cryptocurrency mining and offer superior efficiency compared to general-purpose hardware. This specialization is crucial for maintaining competitive mining economics, especially considering Dogecoin's relatively lower value per unit compared to Bitcoin.

This move aligns with Thumzup's broader cryptocurrency strategy, which includes direct Dogecoin treasury purchases and the establishment of a dedicated Crypto Advisory Board. The company appears to be positioning itself as a vertically integrated player in the Dogecoin ecosystem, combining mining operations with direct asset accumulation.

The investment reflects Thumzup's transition from its original business model as an "advertising industry disruptor" toward becoming a significant player in cryptocurrency mining and digital asset accumulation. This strategic pivot suggests the company sees greater growth potential in the cryptocurrency sector than in its original market.

Corporate Finance Strategist

This $2.5 million capital infusion through a loan structure rather than direct equity investment provides Thumzup tactical advantages. Structuring the funding as a loan creates a senior secured position for Thumzup on DogeHash's balance sheet while the acquisition process completes, protecting their capital if unexpected complications arise.

The financing accelerates DogeHash's growth without waiting for acquisition closing formalities, capturing time-sensitive market opportunities. From a financial efficiency perspective, this approach minimizes opportunity costs associated with delayed deployment during the acquisition process. When hardware deployment timelines are factored in, this pre-acquisition funding could generate several additional months of mining revenue that would otherwise be lost.

For investors, this transaction signals Thumzup's commitment to rapid execution and suggests management's confidence in both the acquisition's completion and the mining operation's economics. The strategic focus on expanding mining capacity from approximately 3,500 to 4,000 miners indicates the company is pursuing economies of scale to improve operational efficiency.

Thumzup's broader strategic shift toward becoming a "digital asset accumulator" with multiple cryptocurrency initiatives suggests a comprehensive pivot rather than merely a tangential exploration of blockchain technology. The company appears to be executing a multi-pronged approach: direct treasury purchases (asset accumulation), mining operations (production capacity), and advisory expertise development (intellectual capital).

This strategic repositioning could represent either a calculated diversification or a fundamental business model transformation, depending on how Thumzup balances these new ventures against its original advertising technology focus.

• Strategic funding expected to accelerate fleet deployment to over 4,000 ASIC miners
• Capital provided in advance of Thumzup's pending acquisition of DogeHash

LOS ANGELES, Sept. 30, 2025 /PRNewswire/ -- Thumzup Media Corporation ("Thumzup" or the "Company") (Nasdaq: TZUP), a digital asset accumulator and advertising industry disruptor, announced today that it has provided DogeHash Technologies Inc. ("DogeHash") with a $2.5 million loan. The funds are expected to expand DogeHash's Dogecoin mining capacity and accelerate deployment of its next-generation ASIC miners.

The financing, which comes ahead of Thumzup's pending acquisition of DogeHash, is anticipated to support the acceleration of the growth of the fleet of miners with more than 500 new ASIC miners, which could bring the total rigs in operation to more than 4,000 later this year. Company executives said the move underscores Thumzup's broader strategic push into the cryptocurrency ecosystem and strengthens its position as a fast-scaling Dogecoin mining venture.

"We are enthusiastic about all the recent developments in the Dogecoin ecosystem and are looking forward to working with DogeHash to build a premier Doge mining company together," said Robert Steele, chief executive officer of Thumzup.

"We appreciate Thumzup providing this capital prior to the conclusion of the acquisition," commented Parker Scott, Chief Executive Officer of DogeHash Technologies. "This helps us accelerate our deployment of cutting-edge Doge mining hardware. These funds are anticipated to add more than 500 ASIC miners to our fleet, expanding our efficiency and scale during a pivotal period for the Dogecoin market."

The capital infusion follows several strategic initiatives by Thumzup in recent months, including DOGE treasury purchases, the launch of its Crypto Advisory Board and the pending acquisition of DogeHash Technologies. Together, these moves reinforce Thumzup's vision of becoming a transformative leader in cryptocurrency mining and digital asset strategy.

About Thumzup®

Thumzup Media Corporation is pioneering a new era of digital marketing and financial innovation. In parallel with the growth of its AdTech platform, Thumzup's Board of Directors has authorized the Company to strategically expand its treasury strategy beyond Bitcoin to include leading cryptocurrencies, such as Dogecoin, Litecoin, Solana, Ripple, Ether, and USD Coin, reinforcing the Company's commitment to financial agility and innovation.

About Dogehash Technologies

DogeHash Technologies is a leading industrial scale Dogecoin-focused digital asset mining company. The company operates a growing fleet of thousands of industrial-grade Scrypt miners across best-in-class North American colocation sites. The company intends to develop a strategic treasury reserve to capture long-term value from mined assets, while leveraging exclusive access to next-generation Scrypt hardware to deliver efficient and scalable mining. With a mission to build a top-tier publicly traded, pure-play Dogecoin mining platform, DogeHash is uniquely positioned to lead in sustainable growth and innovation across the digital asset ecosystem.

Legal Disclaimer

This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These include, without limitation, our expectation that we will successfully consummate the acquisition with DogeHash, adverse changes in the crypto market including federal legislation and adverse regulations, our strategic direction and growth prospects, and our business, financial position and our potential growth and planned expansion. These statements are identified by the use of the words "could," "believe," "anticipate," "intend," "estimate," "expect," "may," "continue," "predict," "potential," "project" and similar expressions that are intended to identify forward-looking statements. All forward-looking statements speak only as of the date of this press release. You should not place undue reliance on these forward-looking statements. Although the Company believes that its plans, objectives, expectations and intentions reflected in or suggested by the forward-looking statements are reasonable, it can give no assurances that these plans, objectives, expectations or intentions will be achieved. Forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions that could cause actual results to differ materially from historical experience and present expectations or projections. Actual results may differ materially from those in the forward-looking statements and the trading price for our common stock may fluctuate significantly. Forward-looking statements also are affected by the risk factors described in the Company's filings with the U.S. Securities and Exchange Commission (the "SEC"), including in the Company's Annual Report on Form 10-K and other filings with the SEC. Investors and security holders are urged to read these documents free of charge on the SEC's website at: http://www.sec.gov. Except as required by law, the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

Additional Information About the Acquisition and Where To Find It

Thumzup intends to file with the SEC a proxy statement in connection with the proposed acquisition of DogeHash and will mail a definitive proxy statement and other relevant documents to Thumzup's stockholders. The closing of the acquisition is conditioned upon the Company obtaining the required stockholder approvals, Nasdaq approval, receipt of a fairness opinion by the Company and customary closing conditions.

Thunzup's stockholders and other interested persons are advised to read, when available, the proxy statement, and amendments thereto, and the other relevant documents filed with the SEC in connection with Thumzup's solicitation of proxies for its stockholders' special meeting to be held to approve the transactions because the proxy statement will contain important information about Thumzup, DogeHash and the transactions contemplated thereby. The definitive proxy statement will be mailed to stockholders of Thumzup as of a record date to be established for voting on the transactions. Investors may obtain a free copy of the proxy statement (if and when it becomes available) and other relevant documents filed by Thumzup with the SEC at the SEC's website at www.sec.gov. Stockholders of Thumzup will also be able to obtain copies of the proxy statement, without charge, once available, at the SEC's website at www.sec.gov or by directing a request to: Thumzup Media Corporation, 10557-B Jefferson Blvd., Culver City, CA, Attention: Investor Relations.

Participants in the Solicitation Legend

Thumzup, DogeHash, and certain of their respective directors, executive officers and other members of management and employees may be deemed to be participants in the solicitation of proxies from the stockholders of Thumzup and DogeHash in connection with the proposed transaction. Information about the directors and executive officers of Thumzup is set forth in its Amendment No. 1 to its Annual Report on Form 10-K for the year ended December 31, 2024, which was filed with the SEC on April 30, 2025. Additional information regarding the participants in the proxy solicitation, including TZUP and DogeHash directors and officers, and a description of their direct and indirect interests, by security holdings or otherwise, will be included in the proxy statement and other relevant materials filed with the SEC regarding the acquisition when available. Each of these documents is, or will be, available at the SEC's website or by directing a request to Thumzup as described above under "Additional Information About the Acquisition and Where to Find It."

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SOURCE Thumzup Media Corporation

FAQ

What is the size of Thumzup's (TZUP) investment in DogeHash Technologies?

Thumzup has provided a $2.5 million loan to DogeHash Technologies to expand its Dogecoin mining operations.

How many new ASIC miners will be added to DogeHash's fleet through TZUP's investment?

The investment will support the addition of over 500 new ASIC miners, potentially bringing the total fleet to more than 4,000 mining rigs.

What is the strategic significance of Thumzup's investment in DogeHash?

The investment accelerates DogeHash's mining capacity expansion ahead of Thumzup's pending acquisition of the company, strengthening its position in the cryptocurrency mining sector.

What other cryptocurrency initiatives has Thumzup (TZUP) undertaken recently?

Thumzup has recently engaged in DOGE treasury purchases, launched a Crypto Advisory Board, and is pursuing the acquisition of DogeHash Technologies.

When will DogeHash's expanded mining fleet be operational?

The expanded fleet of over 4,000 mining rigs is expected to be operational later in 2025.