Thumzup Media Corporation (TZUP), a Nasdaq-listed social media marketing firm, has secured $50 million in funding to establish a large-scale Bitcoin mining facility in the United States. The Los Angeles-based company will deploy the capital toward energy-efficient mining infrastructure, engaging with technology providers to accelerate construction. CEO Robert Steele described the move as a "transformative step" to expand into high-growth sectors of the digital economy.
Concurrently, Thumzup revealed an ambitious digital asset treasury strategy, currently holding over $2 million in Bitcoin and planning targeted acquisitions of Ethereum (ETH), XRP, Solana (SOL), Dogecoin (DOGE), Litecoin (LTC), and USD Coin (USDC). This dual approach combines direct mining operations with diversified cryptocurrency investments to generate new revenue streams and enhance financial resilience.
The initiative marks a strategic pivot for the advertising technology company, signaling growing corporate adoption of blockchain infrastructure. Thumzup aims to contribute significantly to Bitcoin's network security while hedging market volatility through its multi-asset portfolio.