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Some Mining companies have risen up to 35% in a single day.
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The next 4 years of Trump’s mandate would mean overcoming the “anti-Cryptocurrency crusade.”
Thanks to Bitcoin and the milestones surrounding it, the stock prices of BTC mining companies in the United States have seen significant gains and recoveries in recent days. The reason? An incendiary cocktail of factors, such as the moment of bitcoin’s positive cycle, with its price at historical highs, plus the result of the United States elections, which gave Donald Trump the winner.
Thanks in part to Donald Trump’s promises for the mining industry, the actions of Terawolf rose up to 37% at the time of writing, the same as those of Riot Platforms. Meanwhile, CleanSpark rose up to 35% this week. For its part, Hut8 shares have risen up to 22% in the last 24 hours; those of Marathon Digital, about a 25% increase in price.
Shares of public mining companies are experiencing a strong recovery, for now. Source: https://data.hashrateindex.com/stocks
Bit Digital, another US-based company, has gained 37.12% over the last month, to cite an additional example of the mining hubbub. In general, all shares of mining companies have taken the same direction: upwards, except perhaps for Core Scientific. This is a mining company that recently returned to the market after a period of latency, and its shares have decreased by about 1% in the last day.
A closer look at the stock chart bitcoin mining They make it clear that these are not increases in shares, or yes, but in the short term, and not in a longer period of time; rather, They are recoveries in the price of shares of mining companieswhich have lived a difficult 2024as reported by CriptoNoticias.
It has been a week of good news for miners
However, today they are all good news. Hashrate Index shows that they are when mining bitcoin it is about. Not only the price of their shares has emerged in favor of these mining companies, which is just a symptom; so have their monthly profits and even the general motivation to participate in the business.
This is the case of Jack Dorsey, current CEO of Block and founder of Twitter, who redoubled, after the elections, his commitment to mining of bitcoin in the new American “procrypto” context.
Mining in the United States could be more profitable now. Source: https://data.hashrateindex.com/market-news
The news that there will be majority of republican politicians in Congress starting in January, with the arrival of Trump to the White House, bodes well for the bitcoin and cryptocurrency industry in the United States.
The entire industry is benefiting from the positive synergy of the bitcoin price, which recently exceeded $75,000and from this “outlawed” position of the politicians who will come with the new administration. However, mining in the United States and its representatives with data centers in the US have particular reasons to see the future with optimism, which is being reflected in their actions and business profitsas demonstrated by the data provided.
Why is there so much good news for US mining?
At a general level, Trump has committed to definitively ending the “anti-cryptocurrency crusade” of the Joe Biden administration. In a less restrictive environment, the United States could create a more profitable context for miners, even enabling the migration of new companies to US territory, in addition to the expansion of current ones.
Regarding promises made for mining, CriptoNoticias recalled that Donald Trump said, within the framework of Bitcoin Conference 2024, in Nashville, Tennessee, that they are going to generate so much electricity that Americans will say: “Please, please, Mr. President , we don’t want more electricity. We can’t stand it!’
The president as of January also promised a pipe dream, one that would however have major effects on Bitcoin mining in the United States: that all remaining BTC supply be mined in the country. Just trying to carry out this promise would cause a clear expansion of the mining infrastructure in the country, creating jobs and stimulating local economies, especially those in the energy sector
These policies would cause, on a rebound, the country’s computing power dedicated to artificial intelligence to increase. The above would contribute to the expansion of the sector by connecting the farms and mining centers with the entire technology industry and its economy that makes life within the American territory.
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