Thumzup’s $50M Power Play: Betting Big on Crypto Mining & Blockchain Disruption
Thumzup just threw gasoline on its growth strategy—and Wall Street's scrambling to keep up.
The $50M cash infusion isn't funding some milquetoast SaaS pivot. This is a full-throttle dive into crypto mining rigs and blockchain venture stakes. Because apparently, printing digital money beats begging VCs for Series B rounds.
Mining arms race incoming? With institutional capital now chasing hash rate instead of hype coins, Thumzup's timing couldn't be sharper—or riskier. Their engineers better hope those ASICs arrive before the next difficulty adjustment.
Blockchain bets double down: The war chest also bankrolls strategic stakes in decentralized protocols. Because nothing hedges against a mining downturn like owning the infrastructure everyone's forced to use.
Let's see if their CFO remembers to budget for the electricity bills this time.
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
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 ithad 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.
