Thumzup Media Corporation is ramping up its crypto ambitions after securing $50 million in fresh funding.
The company, which pivoted from social media marketing into digital assets earlier this year, now plans to invest heavily in large-scale cryptocurrency mining operations and select blockchain ventures.
Part of the capital will go toward acquiring advanced mining equipment, with talks already underway with technology providers to speed up deployment.
Thumzup entered the crypto market in January and has since accumulated 19.1 BTC, joining the growing list of publicly traded companies using digital asset holdings to strengthen their market position.
The firm’s shareholder list includes Donald Trump Jr., who purchased 350,000 shares in July for roughly $3.3 million, adding to the Trump family’s deepening involvement in the sector.
The expansion plans come as Bitcoin touched a new all-time high of $124,128 before easing slightly, with traders eyeing the $125,000 mark.
Thumzup has previously announced intentions to diversify into assets such as Dogecoin, Litecoin, Solana, XRP, Ether, and USDC, with board approval to hold up to $250 million in crypto.
Investor enthusiasm pushed Thumzup’s stock (TZUP) up 7.6% in after-hours trading on Wednesday, closing at $10.87. The stock is up nearly 195% year-to-date despite recent volatility from a preferred share offering that weighed on Monday’s open.
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Source: https://coindoo.com/trump-jr-backed-thumzup-media-to-grow-bitcoin-holdings-and-mining-operations/