Thumzup Media Company, which initially targeted on social media advertising and marketing, is increasing its involvement in cryptocurrency.
After elevating $50 million via a $10-per-share providing, the corporate mentioned it will improve its digital asset holdings and start constructing a crypto mining operation.
The choice was shared in a press release launched on August 13, the place Thumzup defined that a part of the brand new funding would go towards creating its mining capability.
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The corporate additionally talked about that the staff is presently working with {hardware} suppliers to assist pace up the method of organising its mining infrastructure.
Thumzup entered the crypto trade in January, when it started buying Bitcoin. As of now, the corporate holds 19.1 BTC
$118,267.63
.
Moreover, Donald Trump Jr., son of President Donald Trump, turned one of many firm’s shareholders. A regulatory submitting from July revealed that he purchased 350,000 shares, value about $3.3 million on the time.
Thumzup can also be seeking to maintain extra than simply Bitcoin. In July, the corporate expressed curiosity in numerous cryptocurrencies, together with Ethereum
$4,559.50
, XRP
$3.08
, Solana
$193.14
, Dogecoin
$0.2245
, Litecoin
$121.74
, and USDC
$0.9981
. Its board has since accepted a plan permitting the corporate to maintain as much as $250 million value of digital belongings in complete.
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