According to multiple reports, Thumzup Media Corporation has provided a $2.5 million loan to DogeHash Technologies to help expand Dogecoin mining operations.
The cash is tied to an agreement that could turn into an all-stock acquisition, with DogeHash shareholders reportedly set to receive about 30.7 million Thumzup shares under the deal.
That swap, based on the filings and press notes, may lead the combined company to adopt a new ticker and brand if the transaction closes.
Thumzup Expands Mining Fleet
Reports have disclosed the fresh funds will go toward buying and deploying more mining rigs. The plan calls for adding 500+ ASIC miners, which backers say would push the company’s active machines to over 4,000 by year end.
That is a substantial jump from current levels. The company has also been building a treasury of Dogecoin. Based on reports, Thumzup has accumulated roughly 7.5 million DOGE at an estimated cost near $2 million.
Share Swap And Possible Rebrand
Sources indicate the proposed purchase is an all-share transaction rather than a cash sale. The 30.7 million share figure would give DogeHash holders a stake in Thumzup, and some statements suggest management expects to seek a new ticker — mentioned in rumor as “XDOG” — after closing.
Timelines cited in disclosures point to a closing window in Q4, but that timing depends on regulatory checks and shareholder approvals. The change in focus from marketing services to crypto and mining is being framed by backers as a strategic shift for Thumzup’s business model.
Regulatory And Execution Risks
There are risks. Reports warn that delivering hundreds of ASIC units, securing power, and managing higher operating costs are not simple tasks. Mining difficulty and hardware supply chain delays could blunt the expected gains.
Loan terms and final deal mechanics remain subject to due diligence. Also, while the news has been tied to the Trump family, the link is mainly through prior share purchases by Donald Trump Jr., not direct corporate control.
Market And Shareholder Reaction
Stock and crypto watchers reacted quickly. Some traders bid the shares and Dogecoin higher on the news, while others eyed the deal skeptically.
Analysts pointed out that buying more miners does not guarantee profit if Dogecoin’s network conditions change or energy costs spike. Shareholders will look closely at the details of the loan, any future dilution, and the timeline for full integration of DogeHash into Thumzup.
Featured image from Unsplash, chart from TradingView