Thumzup Media buys DogeHash and 3,500 Scrypt rigs to mine Dogecoin

Thumzup Media Corporation announced the purchase of DogeHash Technologies and the arrival of 3,500 Dogecoin-focused mining rigs, positioning the company as a public player in meme coin mining. The transaction combines operating machines and machines on order and involves shareholding connected to Donald Trump Jr., according to public filings and press releases.

Deal overview

The DogeHash purchase includes about 3,500 rigs, roughly 2,500 operational units and additional units yet to arrive, and the company plans to create a unit dedicated to DOGE mining, while also changing its public presentation to reflect a focus on Scrypt-asset mining.

Hardware and technical details

The machines use the Scrypt algorithm, suitable for Dogecoin and Litecoin, which requires memory as well as computation and has different energy and performance characteristics than SHA-256, and the rigs show hashrates comparable to commercial models with significant electrical consumption per unit; Dogecoin’s support for AuxPoW can allow joint mining with Litecoin and potentially improve revenue steadiness under certain conditions.

Risks and economics

Public revenue estimates range between $22.7 million and $103 million annually but actual results depend heavily on DOGE price, energy costs, competition, and sustainability rules, and the company’s economic success will hinge on Dogecoin price changes, pressure on energy costs, regulatory oversight of energy-intensive operations, and competition from larger miners with lower operating costs.

The DogeHash purchase and the arrival of 3,500 rigs represent a significant bet on Dogecoin with both operational and symbolic consequences; profitability will depend on DOGE prices, energy management, and regulatory conditions, and the move confirms growing public-company interest in crypto infrastructure while raising questions about concentration of validation power and effects on decentralization.