Trump Jr.-tied firm raises $50M for crypto, mining as Bitcoin peaks

Thumzup, a social marketing firm boasting Donald Trump Jr. as a shareholder, 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 into “state-of-the-art cryptocurrency mining infrastructure” and was engaging with mining technology providers “to accelerate the buildout.”

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