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Author: Brayden Lindrea, CoinTelegraph; Compiled by: Deng Tong, Bitchain Vision
Bitcoin (BTC) mining stock surged double-digit Wednesday as U.S. presidential candidate Donald Trump pledged to strengthen the country’s mining operations.
Trump saidHe hopes “all the remaining bitcoins are made in the United States!!!”, adding that this will help the U.S. become a post on June 12“Energy Leader”, the post was published shortly after he held a meeting with some industry executives.
Trump also reportedly told industry executives that he promised to support the industry if he was elected president in November.
Bitcoin mining stock traders seem to like Trump’s industry commitments.
According to Google Finance data,TeraWulf (WULF) and Hut 8 Mining (HUT) are the biggest gainers of the 10 largest Bitcoin miners with market capitalization, up 10.5% and 10.07% respectively on June 12.
TeraWulf’s share price changes on June 12.Source: Google Finance
Core Scientific (CORZ), Iris Energy (IREN) and Cipher Mining (CIFR) ranked in the top five with gains of 9.87%, 9.72% and 8.94%, respectively.
Industry giants CleanSpark (CLSK) and Riot Platforms (RIOT) also rose 8.15% and 6.5% respectively, but Marathon Digital (MARA), the largest Bitcoin miner with market capitalization, rose only 2.4% on the day.
On June 12, Chinese Bitcoin miner Canaan Creative (CAN) was the only Bitcoin miner with a decline in its share price in the top 20 market capitalization.
According to the Companies Market Cap data,This strong day pushed the Bitcoin mining industry’s market value to $26.4 billion.
Bitcoin has risen only 1.4% to $68,365 in the past 24 hours, while mining shares have risen.
CleanSpark and TeraWulf were the two best performing companies in 2024, up 58.55% and 66.96% respectively so far this year.
But not all Bitcoin miners have successfully kept their share prices rising this year.
Marathon Digital has fallen 11.43% year to date, while Riot Platforms has fallen nearly 31% in 2024.
Marathon Digital’s share price changes so far this year.Source: Google Finance
On June 11, Trump and several industry executives discussed how Bitcoin mining can strengthen the power grid and create more jobs at a meeting at Mar-Lago.
Participants included Riot Platforms CEO Jason Les and the company’s head of public policy Brian Morgenstern, CleanSpark executive chairman Matthew Schultz and TeraWulf board director Amanda Fabiano.
All of these industry executives said they had a very pleasant cooperation with Trump that night.
