Thumzup Announces $10M Stock Buyback, Crypto Holdings

The approval of a $10 million share repurchase program through the end of 2026 represents a significant escalation of Thumzup’s capital return strategy. This new authorization comes immediately on the heels of the company’s completion of an initial $1 million buyback this month, during which it repurchased 212,432 shares at a weighted average price of $4.71. The timing is particularly noteworthy given TZUP’s recent performance challenges. While the stock surged to $5.30 intraday following the announcement and settled at $4.82 (up approximately 6%), it remains down about 20% over the past month and has fallen sharply since its peak of $16.49 in early August.

CEO Robert Steele framed the buyback as a demonstration of faith in Thumzup’s long-term direction. “Our decision to implement a $10 million share repurchase program reflects confidence in Thumzup’s long-term strategy and our commitment to delivering value to shareholders,” Steele stated. He emphasized the company’s “balanced approach” that combines “strategic accumulation of digital assets with investment in its underlying infrastructure” as positioning the firm for sustained growth. This substantial capital allocation suggests management believes the current market valuation significantly undervalues the company’s prospects.

Parallel to its stock repurchase activities, Thumzup is aggressively building its cryptocurrency reserves. The company disclosed it currently holds approximately 19.1 Bitcoin (BTC) valued at $2.17 million and 7.5 million Dogecoin (DOGE) worth $1.83 million, bringing its total crypto holdings to approximately $4 million. More significantly, the board has authorized future purchases of additional digital assets, including Ethereum (ETH), XRP, Solana (SOL), Litecoin (LTC), and the USDC stablecoin, indicating a strategy to diversify beyond its current BTC and DOGE-heavy portfolio.

This treasury expansion strategy extends beyond mere asset accumulation. Thumzup has signed a definitive agreement to acquire DogeHash Technologies, a Dogecoin mining operation with 2,500 active mining rigs and an additional 1,000 rigs scheduled for delivery. This acquisition, pending shareholder approval and standard closing conditions, would significantly expand Thumzup’s operational footprint in the cryptocurrency sector, moving the company from passive holding to active participation in blockchain infrastructure.

Thumzup is not alone in combining cryptocurrency treasury management with shareholder-friendly capital returns. The company joins a growing cohort of crypto-native firms implementing buyback programs to appease investors during market downturns. Recent examples include Ethereum-focused companies SharpLink Gaming and ETHZilla, along with Solana treasury company DeFi Development Corporation, which announced its own $100 million share repurchase program on the same day as Thumzup’s revelation.

This emerging trend suggests that companies deeply embedded in the digital asset ecosystem are maturing in their approach to corporate finance. Rather than simply holding crypto assets on their balance sheets as speculative investments, they’re leveraging traditional financial tools like stock buybacks to manage their public market valuations while maintaining exposure to the potential upside of blockchain technologies. For Thumzup, this dual strategy of aggressive share repurchases coupled with strategic crypto acquisitions represents a calculated bet that its social media marketing technology business, combined with its growing digital asset portfolio, will deliver superior long-term returns despite short-term market volatility.