Move comes as Bitcoin hits new record high above $124,000, boosting corporate interest in digital assets
Thumzup Media Corporation, a social marketing firm with Donald Trump Jr. as a major shareholder, has announced plans to deploy $50 million into cryptocurrency purchases and large-scale Bitcoin mining operations. The funding, secured through a $10-per-share offering, will also target strategic blockchain investments.
The company revealed it is working with mining technology providers to accelerate the development of “state-of-the-art cryptocurrency mining infrastructure.” This expansion builds on Thumzup’s initial crypto purchase in January, when it acquired 19.1 Bitcoin, now valued at over $2.35 million, following Bitcoin’s surge past $123,000.
“Institutional participation in Bitcoin mining is no longer experimental — it’s becoming a core strategic asset,” said digital asset strategist Paul Reiner. “When firms tie capital deployment to market peaks, it signals confidence in the asset’s resilience.”
Bitcoin’s record rally fuels corporate buying
The announcement comes as Bitcoin hits a record $124,128, briefly nearing the $125,000 mark before easing to $123,683 — a 3.6% daily gain. Traders see the milestone as a psychological breakout point that could drive further institutional inflows.
In addition to Bitcoin, Thumzup has board approval to hold up to $250 million in cryptocurrencies, including Ether, Solana, XRP, Dogecoin, Litecoin, and USDC. This aligns with a broader trend of publicly traded companies accumulating crypto reserves to enhance shareholder value.
Market reaction and global context
Thumzup shares rose 7.62% in after-hours trading to $10.87, rebounding from earlier declines. The stock is up nearly 194.5% year-to-date, with its most recent high of $15.46 recorded on Aug. 8.
The move mirrors developments in Europe, where Sweden’s H100 Group increased its holdings by 45.8 BTC, bringing its total to 809.1 BTC — ranking it 42nd among public firms worldwide for Bitcoin ownership.
The combination of record Bitcoin prices, expanding mining infrastructure, and corporate accumulation suggests digital assets are becoming entrenched in long-term corporate strategy.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.