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Donald Trump expressed strong support for the U.S. Bitcoin mining sector, promising enhanced national energy dominance if elected. His endorsement came during discussions with top industry executives from Riot Platforms, CleanSpark, and TeraWulf. He emphasized making all Bitcoin mining operations domestic, branding it as the nation’s safeguard against a central bank digital currency (CBDC).
At his Mar-a-Lago residence, Trump met with key figures including Riot’s CEO Jason Les and CleanSpark’s Matthew Schultz, focusing on how Bitcoin mining could bolster the U.S. electrical grid and spur job creation. Despite past skepticism, Trump’s recent actions, such as accepting crypto donations for his campaign, indicate a strategic shift to align with the influential crypto community.
The backdrop includes President Biden’s proposal for a 30% electricity tax on miners and concerns over the industry’s environmental impact. Trump’s renewed pro-crypto stance seems aimed at countering political pressures and leveraging the sector’s growing financial influence ahead of the November presidential race.
