This morning MARAThe largest publicly traded bitcoin mining company, shared that it will deploy three new data centers in the US.
Would you have made such an announcement if Harris had won the election? Probably. (It's not like they built these data centers overnight.)
But would they have made the announcement with such enthusiasm, highlighting the fact that the bitcoin the company mines will be “Made In USA”? Probably not.
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American computing power is accelerating. Today we announce:
-Three new data centers.
-Owned and operated in Ohio.
-372 megawatts of capacity.twitter.com/hashtag/bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin – Made in the USA pic.twitter.com/ltDbhKrCHJ
— MARA (@MARAHoldings) twitter.com/MARAHoldings/status/1855966602627252674?ref_src=twsrc%5Etfw”>November 11, 2024
The “Made In USA” line is likely a nod to President-elect Donald Trump, who has said he wants bitcoin-to-be-mined-in-the-us.html”>all future bitcoins mined in the United States.
Since Trump won the election, shares of bitcoin mining companies across the board have skyrocketed, with CleanSpark (CLSK) even stops due to this skyrocketing bullish price action, indicating that not only miners but also investors believe that bitcoin mining is welcome in the US and that the industry will prosper as a result.
And it's not just bitcoin miners who feel that bitcoin companies are safe to operate in the US. Alex Leishman, CEO and CTO of bitcoin Exchange. RiverHe also believes that the Trump administration will be kind to bitcoin companies (and bitcoin holders).
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The main risks to bitcoin have been eliminated or made substantially less likely this year:
– Federal ban/chokepoint (with Trump this is much less likely)
– Download Gox coins (the coins have already been distributed)
– Ban on self-custody (less likely under Trump)
-Alexander Leishman (@Leishman) twitter.com/Leishman/status/1856019905457340733?ref_src=twsrc%5Etfw”>November 11, 2024
In this tweet, Leishman is apparently referring to the promise Trump made in his keynote speech at bitcoin 2024 to protect the right to self-custody and prevent the federal bureaucracy from illegally cracking down on the bitcoin and cryptocurrency industry.
Will Trump keep all his promises? It's hard to know.
However, it seems likely that it will, as talks about money and the bitcoin/cryptocurrency lobby crypto-donations.html”>raised millions for Trump's campaign.
For now, however, optimism abounds, which is refreshing after four years of the Biden administration, which made bitcoin and cryptocurrency companies uncomfortable with their status in the US.
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