Thumzup Media pours $50 million into crypto mining and treasury expansion
Main Idea
Thumzup Media Corporation has raised $50 million to expand its cryptocurrency mining operations and digital asset treasury, with its shares rising 7.6% following the announcement.
Key Points
1. Thumzup raised $50 million to expand cryptocurrency mining and digital asset treasury operations.
2. Thumzup shares rose 7.6% in after-hours trading following the announcement.
3. The company's pivot to crypto began in late 2024, with significant investments in Bitcoin and other cryptocurrencies.
4. Thumzup's board approved a broader treasury mandate allowing up to $250 million in holdings across multiple cryptocurrencies.
5. Donald Trump Jr. purchased 350,000 Thumzup shares, valued at over $4 million.
Description
Thumzup Media Corporation is doubling down on its crypto bet with plans to invest $50 million in large-scale mining and a diversified digital asset portfolio. The social media marketing company , which redesigned itself as a crypto-focused player, said in a Wednesday announcement that it will channel fresh capital into building mining infrastructure and expanding its Digital Asset Treasury. The company described the strategy as a “transformative step” that has the potential to generate new reven...
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