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Thumzup Media Dogecoin Mining Expands with $2.5M Investment

By

Hanan Zuhry

Hanan Zuhry

Thumzup Media Dogecoin Mining gets $2.5M boost to expand DogeHash rigs, increase network security, and attract more institutional interest.

Thumzup Media Dogecoin Mining Expands with $2.5M Investment

Quick Take

Summary is AI generated, newsroom reviewed.

  • Thumzup Media invests $2.5M in DogeHash to grow Dogecoin mining operations.

  • Over 500 new ASIC miners will be deployed, raising total rigs above 4,000.

  • Investment strengthens network security and signals growing institutional interest.

  • Thumzup Media plans to acquire DogeHash, further expanding its crypto presence.

Thumzup Media, a company backed by the Trump family, has invested $2.5 million in DogeHash Technologies, reports Coin Bureau. The funding will help DogeHash grow its Dogecoin mining business and reach more users in the crypto world. By the end of the year, the company plans to run over 4,000 mining rigs. This makes it one of the biggest Dogecoin mining networks in the U.S. Also, it could bring more investors and show confidence in Dogecoin’s future.

Boosting Dogecoin Mining Capacity

The $2.5 million investment will let DogeHash buy and set up 500 new ASIC miners. These machines are faster, more powerful and use less energy. CEO Parker Scott said that the funding is a “catalyst” for growth. It comes at a pretty important time for Dogecoin, helping the network to run faster and stay safe. The extra miners also make the system more trustworthy and help DogeHash become a bigger player in crypto mining.

Thumzup Media Steps Into Crypto

This move shows that Thumzup Media is serious about crypto. Earlier this year, the company started buying Bitcoin and Dogecoin for its treasury. It now holds 19 BTC and 7.5 million DOGE, that’s worth around $3.85 million.

The board approved a plan to have up to $250 million in digital assets. This shows that the company is committed to crypto for the long run and sees it as a growing player in the market.

What It Means for Dogecoin

Increasing the number of miners will also raise the Dogecoin network’s hash rate. This helps the network to process transactions faster and make security better. More miners also make the network more trustworthy for users.

Experts say that this move could encourage other institutions to invest in Dogecoin too. It shows confidence in the network and the potential for future growth.

Plans for Acquisition

Thumzup Media is planning to buy DogeHash Technologies using only stock in the deal. But the acquisition still needs shareholder approval. If approved, the company will rebrand as DogeHash Technologies Holdings, Inc. It could then trade on Nasdaq under the ticker XDOG.

This deal would make Thumzup’s position in crypto mining stronger. It would also give the company more influence in the Dogecoin ecosystem.

Growing Institutional Support and Network Strength

The investment and acquisition show that institutional interest in Dogecoin is rising. Growing mining operations makes the network more safe and reliable. It also helps the company to increase its digital asset holdings.

For investors, this means a stronger network and better system. For the crypto market, it shows that big players are ready to invest in meme coins like Dogecoin.

Thumzup Media’s actions highlight how traditional companies can get into crypto safely. By investing, mining and buying companies, Thumzup Media is helping Dogecoin grow and making its network safer.

Thumzup Media Shapes the Future of Dogecoin

Thumzup Media’s Dogecoin Mining of $2.5 million investment in DogeHash is a pretty huge step. It increases mining power, makes the network stronger and shows that more companies are interested. With plans to acquire DogeHash and grow operations, the company is setting itself as a key player in Dogecoin’s future.

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