Bitcoin Mining Stocks Rise 10% After Trump Promises Support for US Miners

Krutika Adani

Trump's Support Brings Rally for Bitcoin Miners

Amid Joe Biden’s threat to increase electricity prices, Trump promised to bolster mining operations in the country.

Desire to Mine All Bitcoins in US

Trump stated that the 2 million remaining Bitcoins should be mined within the US alone.

Top Gainers

US-based Bitcoin miners TeraWulf and Hut8Mining soared more than 10% each following Trump’s statement.

$26 Billion Industry

The US Bitcoin mining industry has a market cap of $26 billion, the largest in the world. Consequently, the US dominates the US Bitcoin mining landscape.

Crypto in the US Elections

The US presidential elections, which are scheduled for November 2024, have crypto as a major narrative this time.