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Donald Trump Champions U.S. Bitcoin Mining

Donald Trump Champions U.S. Bitcoin Mining

Jun 12, 2024
Bitcoin Mining

Donald Trump Champions U.S. Bitcoin Mining

Former President Donald Trump has expressed strong interest in U.S. Bitcoin mining, emphasizing its strategic importance in the face of potential Central Bank Digital Currencies (CBDCs).

During an early Tuesday meeting at Mar-a-Lago, Trump convened with executives from CleanSpark Inc. and Riot Platforms, two prominent U.S. companies in the Bitcoin mining industry. The Republican presidential candidate underscored the significance of Bitcoin, stating, "Bitcoin mining may be our last line of defense against a CBDC. Biden’s hatred of Bitcoin only helps China, Russia, and the Radical Communist Left. We want all the remaining Bitcoin to be MADE IN THE USA!!! It will help us be ENERGY DOMINANT," according to a late-night post on Truth Social.

Matthew Schultz, Executive Chairman at CleanSpark, reported that Trump expressed a clear understanding and appreciation for Bitcoin. Trump also conveyed his belief that Bitcoin miners contribute to the stabilization of the energy supply to the grid. Schultz further noted that Trump declared his support for miners and would champion their cause if he returned to the White House.

The former president has been actively incorporating Bitcoin into his campaign narrative, seeking to engage new voter demographics. In a nod to the Bitcoin community, Trump has taken advice from Elon Musk and has promised to commute the sentence of Silk Road founder Ross Ulbricht. Moreover, his campaign has started accepting donations in Bitcoin.

Riot Platforms Inc.'s CEO and Director, Jason Les, was also present at the Mar-a-Lago meeting, as mentioned in a post on social media platform X.

This meeting comes at a time when Bitcoin miners are facing increasing scrutiny over their energy consumption and purported environmental impact. While Democrats have been pushing for stricter regulations on the carbon footprint of Bitcoin mining, figures like Texas Senator Ted Cruz have been vocal supporters of the industry. The United States has overtaken China as the leading hub for Bitcoin mining after China imposed a ban on the industry in 2021, and it appears the former President wants it to stay that way.

CoinDesk Article

Bloomberg Article


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