Bank

Bitcoin

Hive

President Donald Trump

Donald Trump

<h2 id="key-points">Key Points</h2>
<ul>
 <li>Bitcoin mining stocks experienced an upturn following former President Trump’s endorsement of Bitcoin mining as a defense against Central Bank Digital Currency.</li>
 <li>Leading the surge was TeraWulf, with a near 20% increase at one point.</li>
</ul>
<p>After former U.S. President Donald Trump expressed support for Bitcoin miners, suggesting that the remainder of the cryptocurrency should be mined domestically, mining stocks experienced a boost on Wednesday.</p>
<h2 id="terawulf-leads-the-surge">TeraWulf Leads the Surge</h2>
<p>TeraWulf led the recovery, with its stocks jumping nearly 20% at one point. This recovery came after a majority of Bitcoin mining stocks fell on the previous trading day. Alongside this, the price of <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> also saw a rebound of around 5%. It seems that Trump’s remarks may have contributed to the price gains for the mining stocks.</p>
<p>Trump’s comments were made on Truth Social late Tuesday night. His post read, “VOTE FOR TRUMP! Bitcoin mining may be our last line of defense against a [Central Bank Digital Currency]. Biden’s hatred of Bitcoin only helps China, Russia, and the Radical Communist Left. We want all the remaining Bitcoin to be MADE IN THE USA!!!”</p>
<p>On Wednesday, TeraWulf shares peaked at $4.13, marking a 19% gain compared to the previous day’s close.</p>
<h2 id="other-mining-stocks-also-rise">Other Mining Stocks Also Rise</h2>
<p>Other mining stocks also saw increases. MicroStrategy’s stock price rose about 7%, and Hive Digital Technologies saw a near 8% increase. Iris Energy, which held firm amid a sector-wide selloff on Tuesday, was up 3% at the time of publication.</p>
<p>Bitcoin’s price surged above the $69,000 mark following Wednesday’s U.S. inflation report, which came in cooler than expected.</p>

As Bitcoin Mining Gains Trump’s Support, Mining Stocks Soar; Defense Against CBDC in Focus

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