Thumzup Media boosts Dogecoin treasury with fresh $2m purchase

Thumzup Media has made a fresh multi-million purchase to boost its Dogecoin treasury, signaling a deeper commitment to the memecoin.

In a September 17 filing with the U.S. Securities and Exchange Commission (SEC), the Los Angeles-based company disclosed its first open-market acquisition of Dogecoin, buying roughly 7.5 million DOGE for about $2 million at an average price of $0.2665 per token.

The purchase is part of its broader strategy to build a dedicated Dogecoin treasury after the firm raised $50 million through a stock offering in August, earmarking those proceeds for digital assets accumulation and high-performance DOGE (DOGE) mining equipment.

Thumzup Media added that it is also advancing plans to acquire DogeHash, a mining operation running 2,500 high-end rigs with another 1,000 slated for installation later this year as part of its expansion plans. 

To guide that expansion, Thumzup has strengthened its crypto advisory board, announcing the addition of Jordan Jefferson, CEO of DogeOS and a co-founder of the MyDoge wallet, along with Alex Hoffman, Head of Ecosystem at DogeOS. The company said the two bring deep experience in Dogecoin infrastructure, decentralized wallets, and layer-two scaling expertise aimed at shaping Thumzup’s treasury and mining initiatives as it builds out its DOGE ecosystem.

The latest purchase now positions the memecoin as a major asset in Thumzup’s broader crypto portfolio, which also includes Bitcoin (BTC), ETH (ETH), SOL (SOL), XRP (XRP), and LTC (LTC). 

Dogecoin treasury push gains traction

CleanCore Solutions continues to lead the Dogecoin accumulation trend, recently surpassing 500 million DOGE on its way to a 1 billion DOGE target. The firm disclosed a $130 million purchase in early September, bringing it roughly halfway toward its goal to hold about 5% of Dogecoin’s total supply within the coming weeks.

Another firm Bit Origin is also making a high-profile entry into Dogecoin reserves. The company recently announced plans to allocate a significant portion of its corporate treasury to DOGE, with aims to become one of its top holders. While exact figures were not disclosed, Bit Origin said it views Dogecoin as a long-term strategic asset for diversification and growth.

On the institutional front, the much-anticipated REX-Osprey Dogecoin ETF (DOJE) is awaiting regulatory green light, with launch expected in the coming days after several postponements.

Meanwhile, the OG memecoin is seeing strong price action on the back of recent developments. The wave of treasury buying and anticipation around the first exchange-traded fund has pushed the token higher, trading near $0.27 at the time of writing. DOGE is up roughly 4.78% in the past 24 hours, and the day’s gains have lifted its weekly performance to about 12% and nearly 18% on the past month.