Thumzup Media Corporation, linked to the Trump family, plans to acquire 3,500 Dogecoin mining rigs, expecting up to $103 million in annual revenue if Dogecoin hits $1. The company is pivoting from adtech to crypto mining through acquiring DogeHash Technologies and completing a $50 million share offering in August.

Thumzup’s Dogecoin mining operations are claimed to be nearly three times more profitable than Bitcoin mining alone, citing BIT Mining’s report. Dogecoin has a market cap over $32 billion and a daily trading volume of $1.3 billion. Thumzup aims to capture 10% of Dogecoin mining capacity and become a utility-scale Dogecoin miner.

Thumzup’s board has authorized holding Dogecoin, Litecoin, Solana, XRP, Ether, and USDC. The company holds 19.1 BTC worth about $2.1 million. Donald Trump Jr. purchased 350,000 shares of Thumzup, and the company’s stock (TZUP) ended the day trading up 5.3% at $5.57, down from its August high but up 62% since the beginning of the year.

Read more at CoinTelegraph: Trump-Linked Thumzup Bets Big On Dogecoin Mining Revenue