Thumzup Expands into Crypto Mining and Investments After Raising $50M as Bitcoin Hits $124K

Thumzup Doubles Down on Crypto—Mining and More

Thumzup Media, a company that started in social media marketing before pivoting to crypto, just got a $50 million cash injection. And it looks like they’re going all in. On Wednesday, the firm announced plans to expand into large-scale cryptocurrency mining and blockchain investments, adding to its existing stash of Bitcoin.

Right now, they hold 19.1 BTC, bought earlier this year. That’s not a huge amount compared to some corporate whales, but it’s a start. And with fresh funding from a $10-per-share offering, they’re eyeing “state-of-the-art mining infrastructure,” though they haven’t named specific tech partners yet.

Trump Jr. and the Bitcoin Boom

The company’s moves come with some high-profile backing. Donald Trump Jr. scooped up 350,000 shares back in July—worth about $3.3 million at the time. It’s another sign of the Trump family’s growing crypto interests, though whether that’s a good or bad thing depends on who you ask.

Meanwhile, Bitcoin itself is on a tear. Early Thursday, it hit a record $124,128 before dipping slightly. Traders are watching to see if it’ll push past $125,000, which feels almost inevitable at this point. Thumzup’s timing might be lucky, or maybe they just see the same momentum everyone else does.

A Mixed Bag for Investors

Thumzup’s stock had a rough start to the week, dropping 33% after announcing a convertible stock offering. But by Wednesday’s after-hours trading, shares bounced back nearly 8%, landing at $10.87. Year-to-date, the stock is up almost 195%, though it’s still below its August peak of $15.46.

The company isn’t just sticking with Bitcoin, either. Back in July, they mentioned plans to buy Dogecoin, Litecoin, Solana, and others, with board approval for up to $250 million in total crypto holdings. Whether that’s smart diversification or spreading too thin is up for debate.

Other Companies Loading Up on BTC

Thumzup isn’t alone. Sweden’s H100 Group, a health tech firm, just added 45.8 BTC to its pile, bringing its total to 809.1. That puts them in the top 50 globally for corporate Bitcoin holdings, according to BitcoinTreasuries.NET. They paid around $119,090 per coin—not bad, considering where prices are now.

It’s a trend that keeps going, even as crypto prices climb. Companies seem convinced holding Bitcoin is worth the risk, whether as a hedge, an investment, or just a way to grab headlines. For Thumzup, mining could be the next step—if they can pull it off without burning through that $50 million too fast.

No one knows if this strategy will pay off. But for now, the bets are piling up.