Trump-Linked Thumzup Loans $2.5 Million to DogeHash to Drive DOGE Mining

Thumzup Media Corporation (NASDAQ: TZUP), a company tied to the Trump family, has provided a $2.5 million loan to DogeHash Technologies to expand Dogecoin mining. The financing will fund more than 500 new ASIC units, lifting DogeHash’s fleet above 4,000 miners.

“We are enthusiastic about all the recent developments in the Dogecoin ecosystem and are looking forward to working with DogeHash to build a premier Doge mining company together,” Robert Steele, chief executive officer of Thumzup, .

The crypto treasury company backed by the Trump family has in the recent past made strategic investments in Dogecoin.

Some of the notable investments in the Dogecoin ecosystem include:

Dogecoin’s hashrate has held steady in recent weeks at around 2.93 PH/s, according to CoinWarz. The addition of more than 500 ASIC miners from DogeHash is expected to help lift network security and improve stability.

For a proof-of-work chain like Dogecoin, sustained hashrate growth remains critical for keeping the network resistant to potential 51% attacks.

The Dogecoin network, which has more than 7 million on-chain holders, has more chances of remaining the top memecoin by market cap.

Furthermore, the Dogecoin community has been anticipating the approval of more spot ETFs in the United States before the end of this year, after the approval of the REX-Osprey DOGE ETF (DOJE).

Dogecoin has faced repeated rejections near the $0.28 resistance level across the past three months. The token closed September at $0.23 before rebounding to $0.244, up 6% in 24 hours, per TradingView.

Analysts say that if DOGE can break above $0.28, the next target sits near $0.50. Until then, the risk of further consolidation below $0.24 remains.