Fun

Bitcoin miners rise 10% after Trump promises to back US miners

News Feed - 2024-06-13 08:06:32

Brayden Lindrea14 minutes agoBitcoin miners rise 10% after Trump promises to back US minersThe biggest winners on June 12 were TeraWulf, Hut 8 Mining and Core Scientific.102 Total views1 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksBitcoin (BTC) mining stocks soared double digits on Wednesday a day after United States presidential candidate Donald Trump promised to bolster mining operations in the country.


Trump said he wants “all the remaining Bitcoin to be MADE IN THE USA!!!” adding it would help the country be “ENERGY DOMINANT” in a June 12 post, which came shortly after a meeting he hosted with some of the industry’s top executives.


Trump also reportedly told the industry executives that he promised to support the sector should he be elected as president in November.


Bitcoin mining stock traders seemingly liked Trump’s industry promises.


TeraWulf (WULF) and Hut 8 Mining (HUT) were the biggest movers among the top 10 largest Bitcoin miners by market cap, increasing 10.5% and 10.07% respectively on June 12, according to Google Finance.TeraWulf’s change in share price on June 12. Source: Google Finance


Core Scientific (CORZ), Iris Energy (IREN) and Cipher Mining (CIFR) rounded out the top five with increases of 9.87%, 9.72% and 8.94%.


Industry heavyweights CleanSpark (CLSK) and Riot Platforms (RIOT) also rallied 8.15% and 6.5% but the largest Bitcoin miner by market cap, Marathon Digital (MARA), only increased 2.4% on the day.


China-based Bitcoin miner Canaan (CAN) was the only Bitcoin miner among the top 20 by market cap to record a fall in share price on June 12.


The strong day boosted the Bitcoin mining industry’s market cap to $26.4 billion, according to Companies Market Cap.


The mining stock price rallies came on a day where Bitcoin only managed to rise 1.4% to $68,365 over the last 24 hours.


Related:Public Bitcoin miners secured $2B in financing ahead of halving


CleanSpark and TeraWulf have been two of the best performers in 2024, up 58.55% and 66.96% year-to-date.


But not all Bitcoin miners have managed to continue share price growth this year.


Marathon Digital, is down 11.43% year-to-date, while Riot Platforms has tumbled nearly 31% in 2024.Marathon Digital’s change in share price year-to-date. Source: Google Finance


Trump and several industry executives discussed how Bitcoin mining could strengthen the electrical grid and create more jobs in a meeting held at his Mar-a-lago resort on June 11.


Among the attendees were Riot Platforms CEO Jason Les and the firm’s public policy head Brian Morgenstern, CleanSpark executive chairman Matthew Schultz and Amanda Fabiano, a board director at TeraWulf.


All of those industry executives reported positive experiences with Trump on the night.


Opinion:GOP crypto maxis almost as bad as Dems’ ‘anti-crypto army’# Bitcoin# Mining# Business# Adoption# Bitcoin Mining# United States# Stocks# Elections# Donald TrumpAdd reaction

News Feed

Price analysis 7/31: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB
Rakesh Upadhyay6 hours agoPrice analysis 7/31: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIBBitcoin bulls have held the $65,000 level, but BTC and altcoin charts show it"s too early for traders to expect a short-te
Martin Young2 hours agoWallet of Satoshi vanishes from Apple and Google’s US app storesApple is facing the wrath of crypto users yet again as a popular Bitcoin Lightning wallet disappeared from its U.S.-facing App Stor
Bitcoin miners rise 10% after Trump promises to back US miners
Brayden Lindrea14 minutes agoBitcoin miners rise 10% after Trump promises to back US minersThe biggest winners on June 12 were TeraWulf, Hut 8 Mining and Core Scientific.102 Total views1 Total sharesListen to article 0:0
Amaka Nwaokocha10 hours agoUK cryptocurrency scams jump 23%, young investors prime targets: Lloyds BankAccording to the bank, potential cryptocurrency investors usually make an average of three payments before recognizin
Tesla investors sue Elon Musk for diverting resources, talent to xAI
Jesse Coghlan4 hours agoTesla investors sue Elon Musk for diverting resources, talent to xAIShareholders accused Tesla boss Elon Musk of “brazen disloyalty” with his xAI startup that created “billions in AI-related
Tom Mitchelhill2 hours agoCrypto market sentiment at highest point since BTC’s $69K all-time highThe Crypto Fear & Greed Index has returned to levels not seen since the peak crypto market rally of November 2021.165
Introducing MetaWars: A Strategic Blockchain-Based Game in the Metaverse
Introducing MetaWars: A Strategic Blockchain-Based Game in the Metaverse sponsored MetaWars is a highly immersive multiplayer strategy game. With an infinite universe that is establ
Bitcoin Data Reveals Bulls Are Growing But Still Behind March 2024 Peak – Details
Este artículo también está disponible en español. Bitcoin has proven unstoppable, breaking all-time highs five times in six days and surging past the $82,000 mark. This l
How and where to view crypto transaction histories
Tanuj Surve1 hour agoHow and where to view crypto transaction historiesLearn how to track cryptocurrency transaction histories with detailed steps to help navigate and understand crypto transactions.216 Total views27 Tot
Bitcoin to Be Digital Gold in 2020, Says Bloomberg Report
Bitcoin to Be Digital Gold in 2020, Says Bloomberg Report Bitcoin will mature into a gold-like store of value this year, according to the latest projections by Bloomberg. The financ
Canadian Regulator Alerts Police to Tweets by Coinbase and Kraken Advocating Non-Custodial Wallets
Canadian Regulator Alerts Police to Tweets by Coinbase and Kraken Advocating Non-Custodial Wallets Canada’s securities regulator has flagged tweets by Coinbase CEO Brian Arm
Tom Blackstone5 hours agoCosmos-based Osmosis launches concentrated liquidity, lets LPs choose priceThe new feature offers higher fees to LPs who provide liquidity within tighter price ranges but also causes them to not