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2w ago

Thumzup Seals $50M Raise to Fuel Bitcoin Mining and Crypto Treasury Growth

Earmarked proceeds will power a US-based mining buildout with bolstered crypto holdings through a Bitcoin-backed credit facility from Coinbase Prime.

Trump Jr.-backed Thumzup plans to launch large-scale Bitcoin mining infrastructure after $50 million raise
Thumzup targets ETH, DOGE, SOL treasuries after closing $50m public offering
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Overview

  • Thumzup closed a $50 million public offering at $10 per share in mid-August under its SEC-effective S-3 shelf, with Dominari Securities as placement agent.
  • In July, its board approved expanding the crypto treasury beyond Bitcoin to include Ether, Solana, XRP, Dogecoin, Litecoin, USDC and other tokens.
  • The company is actively engaging mining technology providers to build energy-efficient, large-scale Bitcoin mining operations in the United States.
  • It plans to leverage its existing Bitcoin-backed credit facility through Coinbase Prime for liquidity management and hedging support.
  • Donald Trump Jr. sold a significant portion of his approximately 350,000-share stake during the offering alongside other selling shareholders.