Leading miners’ shares rose after Trump’s statement about supporting the industry

The politician promised to promote the remaining bitcoins to be mined in the US if re-elected as president

13.06.2024 - 12:40

1 min

What’s new? Share prices of the leading mining companies rose sharply after former US President Donald Trump held a meeting with their representatives and pledged to support the industry in case of re-election in 2024. Thus, securities of TeraWulf (WULF) and Hut 8 Mining (HUT) added 10,5% and 10,07% respectively over the day.

Companies Market Cap data

What else is known? Shares of Core Scientific (CORZ), Iris Energy (IREN), and Cipher Mining (CIFR) were also in the top 5 for daily gains with gains of 9,87%, 9,2% and 8,94%, respectively.

Major players such as CleanSpark (CLSK) and Riot Platforms (RIOT) added 8,15% and 6,5%, with market capitalization leader Marathon Digital (MARA) up just 2,4% for the day

In general, as a result of such rapid growth, the overall total capitalization of the bitcoin mining industry reached $26,4 billion. At the same time, the rate of the asset itself fell by 0,04% over the past day.

Trump during his meeting with miners said that all remaining bitcoins should be mined in the United States. According to him, mining is a defense against the potential issuance of the digital dollar and stimulates the energy industry.

Among those attending the meeting were Riot Platforms CEO and head of public policy Jason Les and Brian Morgenstern, CleanSpark chairman Matthew Schultz, and TeraWulf board member Amanda Fabiano.

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