US-based Thumzup Media has made its first major open-market move into crypto by purchasing 7.5 million Dogecoins.
According to the company’s announcement, the acquisition was worth approximately $2 million, completed at an average price of $0.2665 per DOGE. The move is seen as part of Thumzup’s broader strategy to make digital assets more visible on its balance sheet.
Earlier this month, Thumzup revealed plans to install 3,500 Dogecoin mining rigs by year’s end through its pending acquisition of mining firm Dogehash. The firm also expanded its crypto advisory board with the addition of DogeOS CEO Jordan Jefferson and MyDoge executive Alex Hoffman, signaling a deeper commitment to the Dogecoin ecosystem.
The company had already launched a crypto treasury in January with a $1 million Bitcoin investment and, in July, secured board approval to hold up to $250 million in digital assets. Following a $50 million equity raise in August, Thumzup’s stock fell 7.7% to close at $4.61 on Wednesday but climbed 4.5% in after-hours trading after the DOGE purchase announcement. Meanwhile, Dogecoin’s price rose 2.4% to $0.28.
