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Trump-Linked Thumzup Media Invests $2.5M in Dogecoin Mining Firm DogeHash
Thumzup Media Corporation, an AdTech and cryptocurrency mining firm tied to the Trump family, has injected $2.5 million into DogeHash Technologies, a large-scale Dogecoin (DOGE) mining company. The funding comes at a pivotal moment, with Dogecoin mining difficulty hitting record highs and analysts forecasting bullish price action for the meme coin.
Thumzup Expands Mining Ambitions
The investment will allow DogeHash to deploy over 500 new ASIC miners, pushing its total fleet to more than 4,000 units by year-end. The move is part of Thumzup’s broader strategy to expand into digital assets, ahead of its pending acquisition of DogeHash.
In June, Thumzup’s board greenlit the evaluation of adding at least six additional cryptocurrencies to its reserves, beyond Bitcoin (BTC). This came after a $50 million all-common stock offering aimed at bolstering its balance sheet and supporting mining infrastructure.
A company statement highlighted that the latest funding aligns with Thumzup’s recent strategic moves, including DOGE treasury purchases, the formation of a Crypto Advisory Board, and its upcoming takeover of DogeHash. Together, these steps underline Thumzup’s ambition to position itself as a leading force in cryptocurrency mining and asset strategy.
Dogecoin Mining Competition Heats Up
According to BitInfoCharts, Dogecoin mining difficulty surged to an all-time high in September, reflecting rising hash power and increased miner participation. DogeHash’s expansion could improve its competitiveness in this tougher environment, while also positioning Thumzup to capitalize if DOGE’s price rallies in line with bullish projections.
Will DOGE Break $1?
Currently trading at $0.23, DOGE remains 68% below its all-time high, but analysts see potential for a breakout. Market watchers point to an ascending triangle pattern, which could send prices to $0.48 if confirmed.
Some analysts are even more optimistic. Predictions range from a historic rally to over $1, with some suggesting an 800% surge based on Dogecoin’s past explosive cycles. One trader even set a target of $1.30 if history repeats itself.
For now, Thumzup’s latest bet ensures that Dogecoin remains firmly in the spotlight—both on the mining and price action fronts.
