Bitcoin

President Donald Trump

Donald Trump

Elon Musk

<ul>
 <li>Markets react positively to Trump’s support for Bitcoin mining, with CleanSpark and Riot Platforms seeing significant gains.</li>
 <li>Trump’s commitment to Bitcoin mining sparks optimism among industry leaders, promising potential job creation and energy sector benefits.</li>
 <li>Trump pledges to champion U.S. Bitcoin mining, boosting stocks of major miners like TeraWulf and Hut 8.</li>
</ul>
On June 12, former President Donald Trump met with Bitcoin Magazine CEO David Bailey and several leading U.S. Bitcoin miners, expressing a strong commitment to <a href="https://cryptonewsland.com/donald-trump-voices-support-for-bitcoin-mining-industry/" rel="noopener noreferrer nofollow">enhancing Bitcoin mining</a> in the United States. This meeting, held at Trump’s Mar-a-Lago resort, saw Trump promising to champion the Bitcoin mining industry both in Washington D.C. and on a global scale.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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 JUST IN: <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f1fa-1f1f8.png" alt="🇺🇸" class="wp-smiley" style="height: 1em; max-height: 1em;"> Donald Trump met with Bitcoin Magazine CEO and US <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> miners and committed to supporting mining in DC <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f44f.png" alt="👏" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/m4UDjwZ2S7" rel="noopener noreferrer nofollow">pic.twitter.com/m4UDjwZ2S7</a>— Bitcoin Magazine (@BitcoinMagazine) <a href="https://twitter.com/BitcoinMagazine/status/1800682561376764195?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 12, 2024</a>
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Market Reaction to Trump’s Support
The meeting’s outcomes quickly <a href="https://companiesmarketcap.com/bitcoin-mining/largest-bitcoin-mining-companies-by-marketcap/" rel="noopener noreferrer nofollow">impacted</a> the market, with Bitcoin mining stocks experiencing significant gains on June 13. Among the top performers were TeraWulf (WULF) and Hut 8 Mining (HUT), which saw their stocks rise by 10.5% and 10.07%, respectively.&nbsp;
Other notable increases included CleanSpark (CLSK) and Riot Platforms (RIOT), which rose by 8.15% and 6.5%. Marathon Digital (MARA), despite being the largest Bitcoin miner by market cap, saw a more modest increase of 2.4%.
Industry Perspectives and Promises
During the meeting, Trump articulated his vision for making the U.S. a leader in Bitcoin mining, emphasizing the potential benefits for the nation’s energy sector. “All the remaining Bitcoin to be <a href="https://cryptonewsland.com/trump-advocates-for-all-remaining-bitcoin-to-be-made-in-usa/" rel="noopener noreferrer nofollow">MADE IN THE USA</a>!!!” Trump posted on June 12, advocating for the country to become “ENERGY DOMINANT.”
Executives from various Bitcoin mining firms attended the meeting, including Jason Les and Brian Morgenstern of Riot Platforms, Matthew Schultz from CleanSpark, and Amanda Fabiano, a board director at TeraWulf. These industry leaders reported positive interactions with Trump and expressed optimism about the future of Bitcoin mining in the U.S.
Year-to-Date Performance and Future Outlook
The year 2024 has been mixed for Bitcoin miners regarding stock performance. <a href="https://www.cleanspark.com/" rel="noopener noreferrer nofollow">CleanSpark</a> and TeraWulf have been standout performers, with year-to-date increases of 58.55% and 66.96%, respectively. In contrast, Marathon Digital has seen a decline of 11.43%, and Riot Platforms has dropped nearly 31%.
The meeting also covered how Bitcoin mining could enhance the electrical grid and create more jobs, aligning with broader economic and infrastructure goals. Trump’s commitment to supporting the sector, if elected president in November, has instilled confidence among investors and industry stakeholders.
<h4 class="wp-block-heading" id="h-read-also">Read also</h4>
<ul class="wp-block-yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/riot-overtakes-marathon-as-lead-bitcoin-miner-by-market-cap/" rel="noopener noreferrer nofollow">Riot Overtakes Marathon as Lead Bitcoin Miner by Market Cap</a></li>
 <li><a href="https://cryptonewsland.com/boeing-747-delivers-massive-bitcoin-mining-fleet-to-riot-platforms/" rel="noopener noreferrer nofollow">Boeing 747 Delivers Massive Bitcoin Mining Fleet to Riot Platforms, Unleashing Unprecedented Hashing Power</a></li>
 <li><a href="https://cryptonewsland.com/riot-platforms-reported-impressive-revenue-growth-in-2022/" rel="noopener noreferrer nofollow">Riot Platforms Reported Impressive Revenue Growth in 2022</a></li>
 <li><a href="https://cryptonewsland.com/donald-trump-voices-support-for-bitcoin-mining-industry/" rel="noopener noreferrer nofollow">Donald Trump Voices Support for Bitcoin Mining Industry</a></li>
 <li><a href="https://cryptonewsland.com/crypto-mining-gets-greener-faster-after-elon-musk-criticism/" rel="noopener noreferrer nofollow">Crypto Mining gets Greener, Faster After Elon Musk Criticism</a></li>
</ul>
The post <a href="https://cryptonewsland.com/trumps-endorsement-of-bitcoin-mining-sparks-stock-surge-in-market-btc-price-remains-unphased/" rel="noopener noreferrer nofollow">Trump’s Endorsement of Bitcoin Mining Sparks Stock Surge in Market, BTC Price Remains Unphased</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.

Trump’s Endorsement of Bitcoin Mining Sparks Stock Surge in Market, BTC Price Remains Unphased

Crypto News Land

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