Nasdaq-listed Thumzup Media (ticker TZUP) is loaning $2.5 million to DogeHash Technologies to accelerate the deployment of more than 500 new Dogecoin ASIC miners, the company announced today.
The funding brings DogeHash’s expected fleet size above 4,000 rigs by year-end and comes ahead of Thumzup’s pending acquisition of the miner, which is currently awaiting shareholder approval.
The deal marks another crypto-forward move for the digital ad firm, which recently approved a $10 million share repurchase plan and holds over 19 BTC and 7.5 million DOGE in its treasury, valued at a combined $3.85 million.
Thumzup began accumulating crypto in January and has board authorization to hold up to $250 million in digital assets.
DogeHash CEO Parker Scott called the loan a catalyst for deploying “cutting-edge” ASIC hardware during a “pivotal period for the Dogecoin market.”
ETF and treasury tailwinds
Dogecoin, which exploded during the 2021 bull run from fractions of a cent to over $0.75 in a matter of months, has struggled to reclaim that momentum. It’s currently trading around $0.23 after briefly topping $0.30 earlier this month, according to The Block’s DOGE price data.
Shares of Thumzup have also cooled following hype-driven gains seen in many 2025 crypto treasury entrants. The stock is now trading at $5.20 — down more than 65% from its peak in early August, above $15.
Thumzup is not alone in its Dogecoin accumulation strategy. Nasdaq-listed CleanCore Solutions now holds over 600 million DOGE after initiating its treasury this month with a pledge to buy up to 1 billion tokens. The company, affiliated with the House of Doge and the Dogecoin Foundation, has said it ultimately aims to secure 5% of DOGE’s circulating supply.
The DOGE trade has also gained momentum from ETF tailwinds. The REX-Osprey Dogecoin ETF (DOJE) began trading on Sept. 18, drawing more than $17 million in first-day volume.
“$DOJE was no slouch at $17m, which would be top 5 for the year out of 710 launches,” Bloomberg Intelligence analyst Eric Balchunas wrote on X at the time.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Trade Crypto On Coinhub Exchange
Trade Crypto On Coinhub Exchange
Stay ahead of the market by turning news insights into trading opportunities. With Coinhub Exchange, you can seamlessly buy, sell, and manage your digital assets, all in one secure platform. Take advantage of real-time market insights, deep liquidity, and fast execution for your favorite cryptocurrencies. Don’t just read about it — trade crypto now!
Disclaimer
The content of this article shown by Coinhub News, powered by The Block, is for informational purposes only and should not be construed as financial, legal, tax, or investment advice. Coinhub News and its affiliates are not a licensed financial advisor, legal advisor, broker, or tax advisor, and ... should not be considered as professional advice or a recommendation to engage in any specific investment, legal decision, or financial transaction. Cryptocurrency markets are highly speculative and volatile. Readers should perform their own independent research and consult with a qualified professional before making any financial or legal decisions. The opinions expressed in this article are those of the author and do not necessarily represent the views or opinions of the Company of its affiliates. Additionally, the Company does not make any representations or warranties regarding the accuracy, timeliness, reliability, or completeness of any information in this article. By accessing this content, you acknowledge that any reliance on the information contained in this article is solely at your own risk. The Company is not responsible for any financial losses, legal disputes, or other damages that may arise from reliance on this content or from any investment or legal decisions based on the information provided. Investing in cryptocurrencies involves substantial risks, including the risk of losing your entire investment, and you should carefully consider whether it is appropriate for your circumstances.
Read more
