$50M Deal: Trump’s Thumzup Media Partners With Coinbase To Expand XRP Holdings

According to Thumzup Media’s filing and press release, the Nasdaq-listed company completed a $50 million secondary offering at $10 per share to fund crypto mining and expand a multi-asset treasury.

The company said it will buy mining rigs and add assets such as XRP, BTC, ETH, SOL, LTC, USDC and DOGE to its balance sheet.

The move comes after Thumzup set an internal target to grow a digital asset pool to $250 million and authorized up to 90% of its liquid assets to be held in cryptocurrencies.

Thumzup Expands Crypto Treasury

Robert Steele, Thumzup’s CEO, called the raise a step toward a “strategically managed” digital asset treasury. According to the company, Coinbase Prime will remain custodian and prime broker for the new holdings.

The firm also disclosed a Bitcoin-backed credit facility arranged with Coinbase Prime in May 2025 that is meant to provide flexible capital to support its treasury plan. This is a bold pivot for a publicly traded firm and will draw close scrutiny from investors and regulators alike.

Mining Push And Capital Use

Based on reports, the $50 million proceeds will be split toward mining equipment purchases and direct crypto accumulation. Mining requires machines, space, and power, and Thumzup says it will deploy capital to expand operations.

That’s the part that could either add steady revenue if done well or become a heavy drain on cash if costs rise or market prices tumble. The company didn’t give a detailed commissioning schedule in the initial release, so the timing of any meaningful hash rate increase remains unclear.

Reports have disclosed a string of similar corporate moves in recent days. Vivopower announced a partnership with Crypto.com for institutional custody.

Metaplanet Inc. of Japan reported 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 purchase.

Thumzup’s action sits squarely alongside these shifts as Bitcoin surged to a new all-time high.

If cryptocurrency prices keep rising and margins in mining are still healthy, the plan could deliver very strong returns.

But pooling as much as 90% of liquid assets into digital tokens will expose the company’s balance sheet to sudden swings.

The mining expansion will be a big-ticket item that needs to be executed with care.

Given that the company is associated with US President Donald Trump’s family, the expansion will draw increased media and political scrutiny.

Featured image from FinanceFeeds, chart from TradingView