Trump Jr.-tied firm raises $50M for crypto, mining as Bitcoin peaks
Thumzup, a social marketing firm in which Donald Trump Jr. holds shares, will spend $50 million to buy crypto and mining rigs.
Thumzup Media Corporation, a social media marketing-turned-crypto-buying firm, plans to boost its crypto holdings and get into crypto mining after raising $50 million from investors.
Thumzup said on Wednesday that it would expand its crypto-related strategy “to include large-scale cryptocurrency mining and targeted blockchain investments.”
The company said it will use some of the $50 million it raised from a $10 per share offering on Tuesday to buy “state-of-the-art cryptocurrency mining infrastructure” and was engaging with mining technology providers to “accelerate the buildout.”