In a recent move indicative of his ongoing support for the Bitcoin mining industry, former President Donald Trump met with CEOs from leading US crypto mining companies, expressing his desire for the entirety of Bitcoin production to be made within the United States.
Following a meeting with several CEOs from US crypto mining companies on Wednesday, Donald Trump reaffirmed his support for the Bitcoin mining sector.
Representatives from well-known Bitcoin mining companies, such as CleanSpark, Riot Platforms, Marathon Digital, and others, were present, according to Bitcoin Magazine. S Matthew Schultz from CleanSpark, Jason Les and Brian Morgenstern from Riot Platforms, Salman Khan from Marathon Digital, and Amanda Fabiano, a board member of Terawulf and a former head of mining at Galaxy and director of bitcoin mining at Fidelity, were among the notable individuals in attendance.
“Our industry has faced an enormous amount of political struggle, fueled by misinformation and misguided narratives,” TeraWulf’s Fabiano said on X.
“Our industry needs politicians that are interested in learning about the benefits of Bitcoin and Bitcoin mining.”
The presidential contender expressed his desire for “all the remaining Bitcoin to be MADE IN THE USA!!! [sic]” in a post on June 11 on the Truth Social website, which is owned by Trump. and asserted that it would support the nation’s “energy dominance.”
The “last line of defense” for the nation against a digital currency issued by a central bank, according to him, is Bitcoin. In March, Jerome Powell, the chair of the Federal Reserve, stated that the United States was “nowhere near recommending or let alone adopting a digital currency in any form” as a central bank.
In June, Trump called himself the “crypto president” and emphasized that the US should not allow itself to be in “second place” in the cryptocurrency world.
President Joe Biden has suggested a 30% electricity tax on Bitcoin miners in the nation; the industry is under increasing political pressure due to its emissions, energy consumption, and potential effects on power networks. Trump’s supporting approach contrasts sharply with this.
Recently, GreatGameIndia reported that the National Association of Cryptocurrencies of Venezuela announced in a post on X that the country has banned crypto mining to protect the power grid.
