Nasdaq-listed Thumzup Media (TZUP) has provided a $2.5 million loan to DogeHash Technologies, supporting the expansion of its Dogecoin mining operations. The funding will help DogeHash deploy more than 500 additional ASIC miners, bringing its fleet above 4,000 rigs by the end of the year.
The deal comes as Thumzup prepares to acquire DogeHash, pending shareholder approval. For Thumzup, a digital advertising firm with an increasingly crypto-focused strategy, the loan underscores its push deeper into digital assets.
Thumzup’s Expanding Crypto Strategy
Beyond the DogeHash loan, Thumzup has taken other steps to strengthen its digital asset presence. The company recently authorized a $10 million share buyback program and holds more than 19 BTC and 7.5 million DOGE in its treasury, valued at around $3.85 million.
Since January, Thumzup has been steadily accumulating crypto and has board approval to scale its holdings up to $250 million.
Parker Scott, CEO of DogeHash, said the loan would accelerate deployment of “cutting-edge” ASIC hardware at what he described as a “pivotal period for the Dogecoin market.”
Dogecoin Market and ETF Tailwinds
Dogecoin itself has seen renewed attention in 2025. While still far from its 2021 highs above $0.75, the token recently climbed past $0.30 before settling around $0.23, according to price data.
Investor appetite has also been boosted by the launch of the REX-Osprey Dogecoin ETF (DOJE) on September 18. The fund recorded over $17 million in first-day trading volume, making it one of the top five ETF launches of the year out of more than 700, according to Bloomberg analyst Eric Balchunas.
Broader Corporate Moves Into Dogecoin
Thumzup isn’t the only company leaning into Dogecoin. Nasdaq-listed CleanCore Solutions has announced plans to accumulate up to 1 billion DOGE, aiming eventually to control 5% of the token’s circulating supply. CleanCore is closely tied to the House of Doge and the Dogecoin Foundation, making its accumulation one of the largest coordinated corporate bets on the cryptocurrency to date.
