Home web3.0 Bitcoin Mining Stocks Surge Over 10% Following Trump's Commitment to Enhance U.S. Mining Operations

Bitcoin Mining Stocks Surge Over 10% Following Trump's Commitment to Enhance U.S. Mining Operations

Jun 14, 2024 am 11:52 AM

In a recent report by Cointelegraph, a day after United States presidential candidate Donald Trump pledged to enhance mining operations in the country, Bitcoin (BTC) mining stocks experienced a double-digit increase on June 12.

Bitcoin mining stocks soared by over 10% on June 12, following Donald Trump's pledge to support U.S. mining operations if elected president, boosting industry confidence.

Bitcoin Mining Stocks Surge Over 10% Following Trump’s Commitment to Enhance U.S. Mining Operations

In a recent report by Cointelegraph, a day after United States presidential candidate Donald Trump pledged to enhance mining operations in the country, Bitcoin (BTC) mining stocks experienced a double-digit increase on June 12.

In a post on June 12, Trump expressed his desire for "all the remaining Bitcoin to be MADE IN THE USA!!!" He also stated that this would contribute to the country's status as an "ENERGY DOMINANT" nation. The post was published shortly after a meeting he convened with several of the industry's most prominent executives.

Trump also reportedly informed industry executives that he had pledged to support the sector if elected president in November.

Bitcoin mining stock merchants appeared to appreciate Trump's industry commitments.

According to Google Finance, TeraWulf (WULF) and Hut 8 Mining (HUT) were the most significant movers among the top 10 largest Bitcoin miners by market cap on June 12, with a 10.5% and 10.07% increase, respectively.

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

CleanSpark (CLSK) and Riot Platforms (RIOT), two industry leaders, also experienced an 8.15% and 6.5% increase, respectively. However, Marathon Digital (MARA), the most significant Bitcoin miner by market capitalization, only experienced a 2.4% increase on the day.

On June 12, Canaan (CAN), headquartered in China, was the sole Bitcoin miner among the top 20 by market cap to experience a decline in share price.

Bitcoin Mining Market Cap Hits $26.4 Billion as Stocks Rally, Despite Mixed Year-to-Date Performance

According to Companies Market Cap, the Bitcoin mining industry's market capitalization increased to $26.4 billion due to the robust day.

The mining stock price rallies occurred on a day when Bitcoin only increased by 1.4% to $68,365 in the past 24 hours.

CleanSpark and TeraWulf have been two of the most successful companies in 2024, with year-to-date gains of 58.55% and 66.96%, respectively.

However, not all Bitcoin producers have sustained their share price growth this year.

Riot Platforms experienced a nearly 31% decline in 2024, while Marathon Digital experienced an 11.43% decline year-to-date.

At a meeting held at his Mar-a-Lago resort on June 11, Trump and several industry executives discussed the potential of Bitcoin mining to enhance the electrical grid and generate additional employment opportunities.

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

That evening, each of the industry executives reported that they had a positive experience with Trump.

Photo: Microsoft Bing

TokenPost | [email protected]

News source:https://www.kdj.com/cryptocurrencies-news/articles/bitcoin-mining-stocks-surge-trump-commitment-enhance-mining-operations.html

The above is the detailed content of Bitcoin Mining Stocks Surge Over 10% Following Trump's Commitment to Enhance U.S. Mining Operations. For more information, please follow other related articles on the PHP Chinese website!

Statement of this Website
The content of this article is voluntarily contributed by netizens, and the copyright belongs to the original author. This site does not assume corresponding legal responsibility. If you find any content suspected of plagiarism or infringement, please contact admin@php.cn

Hot Article Tags

Notepad++7.3.1

Notepad++7.3.1

Easy-to-use and free code editor

SublimeText3 Chinese version

SublimeText3 Chinese version

Chinese version, very easy to use

Zend Studio 13.0.1

Zend Studio 13.0.1

Powerful PHP integrated development environment

Dreamweaver CS6

Dreamweaver CS6

Visual web development tools

SublimeText3 Mac version

SublimeText3 Mac version

God-level code editing software (SublimeText3)

Top 10 virtual digital currency app platforms in the world, the top ten virtual currency trading platforms in 2025 Top 10 virtual digital currency app platforms in the world, the top ten virtual currency trading platforms in 2025 Mar 05, 2025 pm 08:00 PM

Top 10 virtual digital currency app platforms in the world, the top ten virtual currency trading platforms in 2025

Pi Node Teaching: What is a Pi Node? How to install and set up Pi Node? Pi Node Teaching: What is a Pi Node? How to install and set up Pi Node? Mar 05, 2025 pm 05:57 PM

Pi Node Teaching: What is a Pi Node? How to install and set up Pi Node?

Various ETF issuers compete to apply for Solana ETF! But why is BlackRock still absent? Various ETF issuers compete to apply for Solana ETF! But why is BlackRock still absent? Mar 03, 2025 pm 06:33 PM

Various ETF issuers compete to apply for Solana ETF! But why is BlackRock still absent?

PI price forecast: How high can PI coins rise? PI price forecast: How high can PI coins rise? Mar 03, 2025 pm 07:27 PM

PI price forecast: How high can PI coins rise?

Does Bitcoin have stocks? Does Bitcoin have equity? Does Bitcoin have stocks? Does Bitcoin have equity? Mar 03, 2025 pm 06:42 PM

Does Bitcoin have stocks? Does Bitcoin have equity?

Understand the current situation and future of MEV on a single article Understand the current situation and future of MEV on a single article Mar 04, 2025 pm 05:06 PM

Understand the current situation and future of MEV on a single article

Bitcoin [BTC] was on a downtrend after losing the $92,000-support level in the final week of February Bitcoin [BTC] was on a downtrend after losing the $92,000-support level in the final week of February Mar 16, 2025 am 10:10 AM

Bitcoin [BTC] was on a downtrend after losing the $92,000-support level in the final week of February

Top 10 Free Virtual Currency Exchanges Rankings The latest top ten virtual currency APP trading platforms Top 10 Free Virtual Currency Exchanges Rankings The latest top ten virtual currency APP trading platforms Mar 11, 2025 am 10:18 AM

Top 10 Free Virtual Currency Exchanges Rankings The latest top ten virtual currency APP trading platforms