Trump-Linked Company Expands into Crypto Mining After $50M Raise

Thumzup Media Corporation has announced plans to dramatically expand its presence in the cryptocurrency sector following a $50 million funding round. The firm, which began as a social media marketing business, is now pivoting toward large-scale crypto mining and targeted blockchain investments. New Strategy and Investments The company revealed it will use part of the funding from its $10-per-share offering to develop “state-of-the-art cryptocurrency mining infrastructure.” It is currently engaging with mining technology providers to accelerate the buildout. Thumzup also confirmed it now holds 19.1 Bitcoin, having first entered the crypto market in early January. This move aligns with a trend among public companies seeking to bolster their share value through cryptocurrency holdings. Trump Family Connection A notable shareholder in Thumzup is Donald Trump Jr., who purchased 350,000 shares in July for nearly $3.3 million, according to regulatory filings. The purchase adds to the Trump family’s growing presence in the crypto space. Bitcoin Price Surge Thumzup’s expansion comes as Bitcoin hit an all-time high of $124,128 before slightly cooling to $123,683. Market optimism has traders eyeing a potential push above $125,000. Thumzup has also outlined plans to diversify its holdings to include Dogecoin, Litecoin, Solana, XRP, Ether, and USDC, with approval to hold up to $250 million in crypto. Stock Market Performance Shares in Thumzup rose 7.62% in after-hours trading on Wednesday to $10.87, recovering from earlier losses. The stock is up nearly 195% in 2025, with its latest all-time high of $15.46 recorded on August 8. However, it faced a sharp drop earlier in the week after announcing a preferred stock offering, which was later amended. Global Crypto Holdings Trend Other firms are also increasing their Bitcoin reserves despite the recent price surge. Sweden’s H100 Group recently bought 45.8 BTC, bringing its total to 809.1 BTC — the fourth-largest holding among European public companies. The move cements the ongoing trend of corporate Bitcoin accumulation, even at record-high prices.

Source: CryptoIntelligence