"Thumzup Media to pursue introduction of 3500 Dogecoin miners"

Thumzup Media, a Nasdaq-listed company, said it plans to secure 3500 Dogecoin (DOGE) mining rigs within the year through the acquisition of Dogehash, a Dogecoin mining firm. Thumzup said the acquisition is part of its plan to expand its cryptocurrency mining business.

According to crypto-focused media The Block on the 5th, Thumzup said it will acquire 2500 mining rigs owned by Dogehash after shareholder approval and install an additional 1000 rigs within the year. Dogehash conducts algorithm-based mining only, which is used for Dogecoin and Litecoin (LTC).

The company estimated the acquisition and miner deployment could generate between $22.7 million and $103.19 million in revenue. The estimate assumes Dogecoin's price rises from the current $0.22 to $1.

Thumzup said, "Cryptocurrency mining is one of the largest value-creation opportunities in the industry," and added, "This acquisition will allow us to secure a high-profit business."

Thumzup also said it received board approval to hold Dogecoin, Litecoin, Solana (SOL), XRP, Ethereum (ETH), and USDC, in addition to Bitcoin.

Meanwhile, according to Yahoo Finance, Thumzup's stock closed at $5.57 the previous day (local time), up 5.29% from the previous day.