This morning MARAthe largest publicly traded Bitcoin mining company, shared that it will be rolling out three new data centers in the US
Would it have made such an announcement if Harris had won the election? Probably. (It’s not like they set up 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.
American computing power is increasing. Today we announce the following:
-Three new data centers.
-Owned and operated in Ohio.
-372 megawatts of capacity.#Bitcoin – Made in the USA. pic.twitter.com/ltDbhKrCHJ— MARA (@MARAHoldings) November 11, 2024
The phrase “Made In USA” is likely a nod to newly elected President Donald Trump, who says he wants all future bitcoins mined in the United States.
Since Trump won the election, shares for bitcoin mining companies have skyrocketed across the board CleanSpark (CLSK) is even being discontinued due to such breakneck upward price action, indicating that not only miners but also investors believe that Bitcoin mining is welcome in the US and that the industry will flourish as a result.
And it’s not just Bitcoin miners who believe Bitcoin companies can operate safely in the US. Alex Leishman, CEO and CTO of Bitcoin Exchange Riveralso believes that the Trump administration will be friendly to Bitcoin companies (and Bitcoin holders).
Major risks for Bitcoin have been eliminated or made significantly less likely this year:
– Federal Ban/Chokepoint (with Trump this is much less likely)
– Dump Gox coins (coins have already been distributed)
– Ban on self-guardianship (less likely with Trump)— Alexander Leishman 🇺🇸 (@Leishman) November 11, 2024
In this tweet, Leishman seemingly references the promise Trump made in his keynote speech at Bitcoin 2024 to protect the right to self-determination and to prevent the federal bureaucracy from unlawfully cracking down on the Bitcoin and crypto industries.
Will Trump keep all his promises? Hard to say.
However, it seems likely he will, given the money talks and the Bitcoin/crypto lobby millions raised for Trump’s campaign.
But for now, there is optimism, which is refreshing after four years of a Biden administration that left Bitcoin and crypto companies uneasy about their status in the US.