Exclusive Trump Holds ClosedDoor Meeting with Top Miners on USMade Bitcoin
Former U.S. President and current Republican presidential candidate, Donald Trump, recently held a meeting with top executives from American bitcoin mining companies at his luxurious Mar-a-Lago resort in Florida.
During the meeting, Trump passionately expressed his unwavering support for the U.S. bitcoin mining industry, highlighting its potential to contribute to the stability of the country’s energy grid. The gathering included representatives from CleanSpark Inc. and Riot Platforms, both of which are listed on Nasdaq. Following the meeting, Trump took to his Truth Social platform to reiterate his backing of U.S. bitcoin mining, stating, “Bitcoin mining may be our last line of defense against a CBDC. We want all the remaining Bitcoin to be MADE IN THE USA!!! It will help us be ENERGY DOMINANT.”
Trump also emphasized his desire to see all remaining bitcoins mined within the United States, positioning it as a crucial step towards achieving energy independence and dominance for the country.
The meeting marks a significant change in Trump’s stance on bitcoin, particularly compared to his comments in 2021 when he referred to it as a “scam.” However, in the lead-up to the 2024 presidential election, Trump has adopted a more favorable position towards the crypto industry. This shift is evident in his decision to start accepting cryptocurrency donations for his presidential campaign and hosting a dinner for holders of his “Mugshot” NFTs at Mar-a-Lago.
By openly courting the crypto industry and its influential political lobbying groups, Trump’s appeals to the bitcoin mining sector come at a time when the industry is facing mounting political pressure within the United States. The energy-intensive mining process has been criticized for its environmental impact and power consumption, prompting President Joe Biden’s administration to propose a 30% tax on electricity usage for crypto miners.
In response to Biden’s stance on bitcoin, Trump argued on social media that it only benefits China, Russia, and the Radical Communist Left, positioning support for U.S. mining as a matter of national energy independence and dominance.
With approximately 10% of the total 21 million bitcoins yet to be mined globally, Trump’s call for domestic mining within the United States could potentially provide a significant political boost to U.S.-based mining operations.
