Trump’s Thumzup Media Teams Up with Coinbase to Boost XRP Investments

As per Thumzup Media’s submission and announcement, the Nasdaq-listed firm concluded a $50 million secondary offering at $10 per share to finance crypto mining and broaden a multi-asset treasury.

The firm stated it will acquire mining rigs and incorporate assets like XRP, BTC, ETH, SOL, LTC, USDC, and DOGE into its balance sheet.

This initiative follows Thumzup’s internal goal to develop a digital asset pool of $250 million and authorized up to 90% of its liquid assets to be stored in cryptocurrencies.

Thumzup Enhances Crypto Treasury

Robert Steele, Thumzup’s Chief Executive Officer, referred to the capital raise as a move towards a “strategically governed” digital asset treasury. According to the company, Coinbase Prime will continue as custodian and prime broker for the new holdings.

The organization also revealed a Bitcoin-backed credit facility arranged with Coinbase Prime in May 2025 designed to provide flexible capital to bolster its treasury plan. This is a significant shift for a publicly traded company and will attract close attention from both investors and regulators.

Mining Initiative And Capital Utilization

According to reports, the $50 million proceeds will be allocated towards purchasing mining equipment and direct crypto accumulation. Mining necessitates machines, space, and electricity, and Thumzup indicates it will commit capital to enhance operations.

This aspect could either result in consistent revenue if executed properly or become a major liability if expenses rise or market values decline. The corporation did not provide a detailed commissioning timeline in the initial announcement, making the timing of any significant hash rate enhancement uncertain.

Industry Peers And Market Movements

Reports have highlighted a series of similar corporate activities in recent days. Vivopower unveiled a collaboration with Crypto.com for institutional custody services.

Metaplanet Inc. of Japan announced a 468% Bitcoin yield in the second quarter of 2025 after holding 18,113 BTC valued at $2.1 billion following a $61 million BTC acquisition.

Thumzup’s strategy aligns closely with these changes as Bitcoin experienced a surge to a new all-time peak.

A Risky Gamble For Shareholders?

If cryptocurrency prices continue to rise and mining margins remain robust, the plan could yield exceptionally strong returns.

However, consolidating as much as 90% of liquid assets into digital tokens will expose the firm’s balance sheet to abrupt fluctuations.

The mining expansion will require significant investment and must be carried out meticulously.

Considering the company’s connections to US President Donald Trump’s family, the expansion will attract heightened media and political scrutiny.

Image sourced from FinanceFeeds, chart from TradingView

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