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Thumzup announces $50 million expansion into crypto mining
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Aug 13, 2025
LOS ANGELES - Thumzup Media Corporation (NASDAQ: TZUP), a $165 million market cap company whose stock has surged nearly 198% year-to-date according to InvestingPro data, announced Wednesday it will expand its digital asset strategy to include cryptocurrency mining and blockchain investments following a recently completed $50 million capital raise.
The company said it plans to deploy capital into cryptocurrency mining infrastructure, focusing on energy efficiency and operational scalability. Simultaneously, Thumzup will expand its Digital Asset Treasury through targeted accumulation of established cryptocurrencies. The company maintains strong liquidity with a current ratio of 3.36, though InvestingPro analysis indicates an overall weak financial health score.
"This is a transformative step in Thumzup’s evolution," said Robert Steele, CEO of Thumzup Media Corporation. "With a strengthened capital base and a clear strategic vision, we are expanding our reach into high-growth areas of the digital economy."
The company stated it is actively engaging with mining technology providers to accelerate infrastructure buildout. This dual approach of mining and digital asset investments aims to generate new revenue streams, according to the press release.
Thumzup, which operates a platform that pays users for sharing branded content on social media, has previously expanded its treasury strategy to include various cryptocurrencies beyond Bitcoin, such as Dogecoin, Litecoin, Solana, Ripple, Ether, and USD Coin.
The company cited the United States’ emergence as a digital asset hub as part of its strategic rationale for the expansion.
The announcement represents a significant pivot for the advertising technology company as it increases its focus on digital assets. While the stock has experienced significant volatility, dropping 24% in the past week, InvestingPro analysis suggests the stock is currently trading near its Fair Value. The information in this article is based on a company press release statement. (Unlock 10+ additional InvestingPro Tips for TZUP and comprehensive financial analysis with an InvestingPro subscription.)
In other recent news, Thumzup Media Corporation announced the completion of its public offering, raising $50 million in gross proceeds by selling shares at $10 each. The company plans to allocate the net proceeds towards cryptocurrency accumulation, mining equipment purchases, and general corporate purposes. Initially, Thumzup Media had priced a separate public offering at $46.5 million, which included common stock and pre-funded warrants for certain investors.
The offering was subject to customary closing conditions and was expected to close around mid-August. Thumzup Media also updated the terms of its proposed public offering to include common stock and pre-funded warrants, revising its earlier announcement of Series D Non-Voting Convertible Preferred Stock. The company intends to use the proceeds from these offerings to further its interests in digital asset accumulation and advertising. These developments reflect Thumzup Media’s ongoing efforts to expand its financial resources for strategic purposes.
Source >> Thumzup announces $50 million expansion into Crypto Mining
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