From Likes to Crypto Riches: Thumzup Media Mines $50 Million to Fuel Mining Dreams. The social media marketing agency is ditching double taps for digital gold, planning a massive crypto portfolio expansion and a dive into the lucrative world of crypto mining after a hefty investor windfall.
Thumzup said on Wednesday that it would expand its crypto-related strategy “to include large-scale cryptocurrency mining and targeted blockchain investments.”
Flush with $50 million from Tuesday’s stock offering, the company is diving headfirst into the crypto mining frenzy, earmarking a portion of the funds to build cutting-edge infrastructure. They’re already in talks with top-tier mining tech providers, aiming to turbocharge their expansion plans. At $10 a share, investors are betting big on this company’s ambitious foray into the digital gold rush.
This company is now a Bitcoin believer, holding 19.1 BTC since its initial purchase in early January. Following the lead of other publicly traded firms diving into crypto, this move signals a bold strategy aimed at energizing investors and boosting the company’s market value.
Donald Trump Jr. just made a splash in the crypto world, scooping up 350,000 shares of an unnamed company in early July. The deal, worth a cool $3.3 million, dramatically expands the Trump family’s already considerable foothold in the digital currency landscape, signaling a deeper dive into the volatile, yet potentially lucrative, realm of cryptocurrency.
Bitcoin hits new peak as it nears $125,000
Thumzup is poised to strike while Bitcoin is white-hot, smashing records at over $124,000. Will its strategic acquisitions be the fuel to rocket Bitcoin past the $125,000 barrier? Traders are betting big.
Hold on to your digital hats! Bitcoin just shattered records, peaking at an astronomical $124,128 around 12:40 am UTC this Thursday, CoinGecko reports. Imagine the champagne popping! While it’s taken a breather, currently hovering around $123,683, it’s still boasting a hefty 3.6% surge in the last 24 hours.
In a bold move this July, Thumzup announced an ambitious crypto shopping spree, expanding beyond Bitcoin to scoop up Dogecoin (DOGE), Litecoin (LITE), Solana (SOL), XRP (XRP), Ether (ETH), and USDC (USDC). With the board’s green light, Thumzup is now poised to hold a crypto portfolio valued at up to $250 million.
Thumzup shares lift after the bell
Thumzup (TZUP) staged a dramatic after-hours comeback Wednesday, surging 7.62% to $10.87 after shaking off a near 1.1% loss suffered during the day’s trading session. Investors are clearly giving this stock a thumbs-up after the bell.
Thumzup shares lifted after the bell on Wednesday. Source: Google Finance
Thumzup is skyrocketing! Up almost 200% this year, the stock smashed records, peaking at $15.46 on August 8th.
Related: Pantera bets $300M on crypto treasury companies, says gains may outpace ETFs
The company’s stock price plummeted nearly 33% to a concerning $10.40 on Monday’s opening bell. The culprit? An announcement of a public offering of non-voting convertible preferred stock – a move quickly reconsidered but not before investors reacted with alarm.
Sweden’s H100 Group boosts Bitcoin holdings
Bitcoin and crypto treasury firms have continued to scoop up cryptocurrencies despite crypto prices continuing to rise.
Stockholm’s H100 Group, a rising star in health tech, just doubled down on its digital gold rush. The company announced Wednesday it scooped up another 45.8 Bitcoin, pushing its crypto treasure chest to a hefty 809.1 BTC. Is this a bold bet on Bitcoin’s future or a strategic diversification play by the Swedish innovators?
H100 dove into the Bitcoin market, snapping up crypto at an average of just under 1.14 million Swedish krona ($119,090) each. Their total Bitcoin buy amounted to a 52.18 million Swedish krona ($5.47 million) investment.
H100’s Bitcoin stash lands them at #42 worldwide among publicly-traded companies. In the EU, they’re a solid fourth, chasing Germany’s Bitcoin Group SE (3,605 BTC), according to BitcoinTreasuries.NET.
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