Thumzup Media Corporation, a social media marketing firm that pivoted into crypto investments earlier this year, is ramping up its digital asset strategy following a $50 million capital raise. Key Takeaways: Thumzup raised $50M to expand into large-scale crypto mining and targeted blockchain investments. The firm holds 19.1 BTC and plans to diversify into six more cryptocurrencies, with board approval for up to $250M in digital assets. Shares have surged nearly 194.5% YTD, driven by its aggressive pivot toward crypto despite posting a Q1 loss. The company announced Wednesday that it will expand into “large-scale cryptocurrency mining and targeted blockchain investments,” using proceeds from a $10-per-share offering completed Tuesday. Part of the funding will go toward “state-of-the-art cryptocurrency mining infrastructure,” with Thumzup already in talks with mining technology providers to speed up deployment. Thumzup Eyes $250M Crypto Portfolio, Expands into Mining Thumzup entered the crypto space in January, initially purchasing Bitcoin. It now holds 19.1 BTC and plans to diversify into Dogecoin, Litecoin, Solana, XRP, Ether, and USDC, with its board authorizing up to $250 million in total crypto holdings. The company’s profile in the sector drew additional attention in early July when Donald Trump Jr., son of U.S. President Donald Trump, purchased 350,000 shares , worth nearly $3.3 million at the time, according to regulatory filings. The timing of Thumzup’s mining push coincides with Bitcoin hitting a record high of $124,128 early Thursday, before easing to $123,683, up 3.6% in 24 hours, per CoinGecko data. Shares of Thumzup (TZUP) rose 7.62% in after-hours trading Wednesday to $10.87, reversing a 1.1% decline during the regular session. The stock is up nearly 194.5% year-to-date, with its latest peak of $15.46 recorded on Aug. 8. However, it slid nearly 33% earlier this week after announcing plans for a public offering of non-voting convertible preferred stock, later revised. Last month, Thumzup received board approval to hold up to $250 million in cryptocurrencies , including Bitcoin and other major digital assets. Thumzup is stepping up its game. We are scaling into large-scale #crypto mining and strategic #blockchain investments, building on our Digital Asset Treasury to seize opportunities in one of the fastest-growing sectors in the world. Read the press release:… pic.twitter.com/djtFmWo2MC — Thumzup Media Corporation (@thumz_up) August 13, 2025 Founded in 2020 and based in Los Angeles, Thumzup operates a platform that rewards users with cash for promoting branded content on social media. Thumzup offers an app that pays users for product recommendations on Instagram. It recorded a $2.2 million loss on just $151 in revenue in Q1. Still, its stock soared almost 75% over the prior four sessions before tumbling 17% by mid‑Wednesday. In January, Thumzup made a notable pivot by announcing it would hold most of its liquid assets in Bitcoin. Since then, it has accumulated over $2 million worth of BTC. Now, the company plans to diversify further by adding six more coins, using funds raised in its latest round. European Bitcoin Holdings Grow Thumzup’s expansion reflects a broader trend of public companies boosting their crypto treasuries. Stockholm-based health technology firm H100 Group revealed Wednesday it had purchased an additional 45.8 BTC , bringing its total to 809.1 BTC. H100 said it paid an average of under 1.14 million Swedish krona ($119,090) per Bitcoin, for a total outlay of 52.18 million krona ($5.47 million). The purchase ranks H100 as the 42nd largest public company Bitcoin holder globally and the fourth largest in the EU, trailing Germany’s Bitcoin Group SE, which holds 3,605 BTC, according to BitcoinTreasuries.net. The post Thumzup to Expand Into Crypto Mining, Blockchain Investments After $50M Raise appeared first on Cryptonews .
