Trump Jr.-Linked Thumzup Raises $50M to Expand Crypto Holdings and Mining Operations
Thumzup Media Corporation, a social marketing firm with Donald Trump Jr. as a major shareholder, has announced plans to pour $50 million into cryptocurrency purchases and large-scale mining infrastructure, capitalizing on Bitcoin’s climb to record highs.
$50M Funding Fuels Crypto Push
The company revealed Wednesday that the capital — raised through a $10 per share offering — will fund state-of-the-art cryptocurrency mining equipment and targeted blockchain investments. Thumzup is reportedly in talks with mining technology providers to accelerate the buildout of its mining operations.
Thumzup currently holds 19.1 BTC (valued at $122,815 each at the time of reporting), after first entering the market in January. This follows a growing trend of public companies adding crypto to their treasuries to boost share value.
Regulatory filings from July show Donald Trump Jr. purchased 350,000 shares of Thumzup, valued at approximately $3.3 million at the time, expanding the Trump family’s presence in the crypto sector.
Bitcoin Hits Fresh All-Time High
The announcement coincided with Bitcoin reaching an all-time high of $124,128 early Thursday, before settling at $123,683, up 3.6% in the past 24 hours. Traders are watching closely to see if BTC can break the $125,000 mark.
Thumzup’s July strategy outlined plans to acquire a diversified crypto portfolio, including Dogecoin (DOGE), Litecoin (LTC), Solana (SOL), XRP, Ether (ETH), and USDC. Its board has approved holding up to $250 million worth of crypto assets.
Market Reaction and Stock Performance
Shares of Thumzup (TZUP) jumped 7.62% in after-hours trading on Wednesday to $10.87, recovering from a 1.1% drop during the day. The stock has surged 194.5% year-to-date, hitting a record high of $15.46 on Aug. 8.
However, shares slid nearly 33% earlier this week after the company announced a public offering of non-voting convertible preferred stock, later amending the terms.
H100 Group Expands Bitcoin Treasury
The crypto accumulation trend isn’t limited to U.S. firms. Stockholm-based H100 Group, a health technology company, disclosed the purchase of 45.8 BTC, raising its total to 809.1 BTC.
The company paid an average of under 1.14 million SEK ($119,090) per Bitcoin, spending 52.18 million SEK ($5.47 million) overall. H100 now ranks as the 42nd largest Bitcoin-holding public company worldwide and fourth in the EU, behind Germany’s Bitcoin Group SE with 3,605 BTC, according to BitcoinTreasuries.NET.
