A company called Thumzup Media (TZUP) is making a big move. They’re ditching their ad-tech business and jumping headfirst into cryptocurrency mining, specifically Dogecoin.
The Big Plan: Dogecoin Domination
Their plan? To become North America’s top Dogecoin miner. They’re raising $50 million by selling stock at $10 a share to fund this ambitious goal. A key part of the plan is buying DogeHash Technologies, which will add thousands of mining machines to their operation. They even project making millions in revenue, depending on Dogecoin’s price. But they warn that these are just projections, and actual results could be different.
The Trump Connection
This isn’t just any company. Donald Trump Jr. has a stake in Thumzup, adding an interesting twist to the story. He’s also linked to the firm that helped Thumzup raise the money.
The Merger and Beyond
The deal to buy DogeHash is a big one. It involves a name change (to Dogehash Technologies Holdings, Inc.), issuing millions of shares, and needing approval from Nasdaq and shareholders. There’s even talk of a new stock ticker symbol: “XDOG”.
The Financials (and a Bit of Caution)
Thumzup’s projections show they could make a lot of money if Dogecoin’s price goes up. However, they also acknowledge that this is just a best-case scenario. They’re emphasizing that they now have a large cash reserve and plan to use it to expand their mining operation. They also mention previous investments in Bitcoin, but the main focus remains on Dogecoin and Litecoin mining.
The Bottom Line
If everything goes as planned (shareholder approval, Nasdaq approval, etc.), Thumzup will become a major player in the Dogecoin mining world. The CEO is optimistic about the future and believes this will create significant value for investors. However, it’s a risky bet that hinges on the price of Dogecoin and the success of their expansion plans.