On Tuesday, Donald Trump announced his intention to ramp up Bitcoin mining across the United States, highlighting the country’s potential to dominate the energy sector.
In a late-night post on Truth Social, the Republican presidential candidate expressed his belief that Bitcoin mining could serve as the nation’s last line of defense against a central bank digital currency (CBDC).
Following these remarks, Bitcoin mining stocks experienced a surge on Wednesday. Shares of TeraWulf (WULF) soared by 10%, Hut 8 Corp (HUT) saw a 6.5% increase, and CleanSpark (CLSK) stocks rose by more than 8.15% at market close.
In a meeting held on June 11 at Mar-a-Lago, Trump engaged with Bitcoin mining companies, emphasizing their role in stabilizing the power grid. Trump, who is the first U.S. presidential candidate to accept cryptocurrency payments for his campaign, has been vocal about his support for digital currencies.
His vision of being the “crypto president” drives his push for domestic Bitcoin mining, leveraging local resources. On Wednesday, Bitcoin’s price surged past $69,000 following a lower-than-expected U.S. inflation report.
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