Thumzup Media Corporation, a company linked to the Trump family, is pivoting its business strategy to focus on Dogecoin mining. The company, which trades on the NYSE American exchange, has filed for the acquisition of a Dogecoin mining operation, including 3,500 mining rigs. This new venture will see the combined company renamed to Dogehash Technologies Holdings, trading under the ticker symbol XDOG.
In a recent shareholder letter, Thumzup made bold revenue projections for the new operation. The company expects to generate $22.7 million in annual revenue at Dogecoin's current price. Should Dogecoin's price reach $1, that revenue could skyrocket to $103 million annually.
Thumzup cited the high profitability of Dogecoin mining, noting that it has been nearly three times more profitable than Bitcoin mining for other companies. Dogecoin's large market capitalization of over $32 billion and daily trading volume of $1.3 billion were also highlighted as factors for the strategic shift.
In addition to mining Dogecoin, the company's board has also authorized holding other major cryptocurrencies, including Bitcoin, Litecoin, Solana, XRP, Ether, and USDC. Donald Trump Jr. has also been reported to have purchased a significant number of shares in the company.
September 2025, Cryptoniteuae