Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

Bitcoin Mining Firms Witness 10% Stock Price Rally as Trump Promises Support

Source Livebitcoinnews

US presidential candidate and former US president Donald Trump is using crypto as a focal point of his current campaign – a twist from his previous term in which he called Bitcoin a scam. Now, he looks to make the US the center of crypto innovation and be the ‘crypto president’.

In his latest move, he urged to make the US the most robust Bitcoin mining jurisdiction. His post on Truth Social read, “We want all the remaining Bitcoin to be MADE IN THE USA!!! It will help us be ENERGY DOMINANT!!!” These words represented his sentiments in a meeting among executives from the country’s top mining companies at his Mar-a-Lago residence in Palm Beach, Florida.

The approval from the 2024 presidential candidate sent stock prices of mining firms soaring on June 12 as TeraWulf (WULF) and Hut 8 Mining (HUT) registered the largest gains. They recorded 10.5% and 10.07% respectively. Core Scientific (CORZ), Iris Energy (IREN), and Cipher Mining (CIFR) followed with their respective gains of 9.87%, 9.72%, and 8.94%. Surprisingly, the largest mining firm by market cap, Marathon Digital, failed to surge as much as its counterparts, recording just 2.4% gains.

The Bitcoin mining industry exhibits a market cap of over $27 billion, at press time. With immense potential to grow even further as Bitcoin witnesses increasing adoption every year, Trump’s meeting with mining executives can produce fruitful results that push the industry further. In the meeting, Trump claimed that mining would strengthen the US electrical grid and add more jobs.

With the election nearing, Trump’s pro-Bitcoin and crypto stance is turning many in his favor, from Silicon Valley VC and startup evangelists to retail users. The popularity of Bitcoin is rising in the US, as one in four Americans holds some amount of it. Trump’s alignment with the crypto industry’s development can make it easier for businesses to flourish and broaden interest in the asset class among institutional and retail investors.

Image by WorldSpectrum from Pixabay

The post Bitcoin Mining Firms Witness 10% Stock Price Rally as Trump Promises Support appeared first on Live Bitcoin News.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Oil’s Return to $110 Boosts Fed Hike Expectations, Pressuring Gold for Fourth Day Toward $4,100 On October 21, gold prices continued their adjustment, with gold (XAUUSD) dropping intraday to as low as $4,106, nearing the $4,100 mark and marking its fourth consecutive trading day of

Author TradingKey

12 hours ago

On October 21, gold prices continued their adjustment, with gold (XAUUSD) dropping intraday to as low as $4,106, nearing the $4,100 mark and marking its fourth consecutive trading day of

Housing starts fell to the second-lowest since the pandemic shutdown — with the 10-year at 5.12%, who is left to buy?US housing starts dropped 5.2% to 1.221 million in September, the second-lowest pace since the 2020 pandemic shutdown, and building permits hit a three-and-a-half-year low of 1.400 million. Both figures are worse than they look because July and August were revised up. With the 10-year Treasury at 5.117% — only 19bp below its October 5 peak of 5.311% — and the NAHB builder confidence index at 2012 levels, here are the three numbers, the transmission chain from rates to permits, and the two scenarios into the October 28 FOMC.

Author Irene Q.

14 hours ago

US housing starts dropped 5.2% to 1.221 million in September, the second-lowest pace since the 2020 pandemic shutdown, and building permits hit a three-and-a-half-year low of 1.400 million. Both figures are worse than they look because July and August were revised up. With the 10-year Treasury at 5.117% — only 19bp below its October 5 peak of 5.311% — and the NAHB builder confidence index at 2012 levels, here are the three numbers, the transmission chain from rates to permits, and the two scenarios into the October 28 FOMC.

The Dow gained 500 points and the two AI names that matter fell after hours — Netflix's guide is the tell The Dow closed 529.85 points higher at 52,495.88 (+1.02%) and the VIX fell 6.13% to 17.31, but the two stocks that carry the AI trade moved the other way after Tuesday's close: Netflix slipped to $64.74 (-5.8%) after guiding Q4 EPS of $0.67, below the street, while SpaceX jumped about 8% to near $160 on its first profit as a public company and revenue up 161%. Netflix is now below its 52-week low of $65.08. Here are the numbers, the $65 / $70 levels and the two catalysts that matter this week.

Author Irene Q.

15 hours ago

The Dow closed 529.85 points higher at 52,495.88 (+1.02%) and the VIX fell 6.13% to 17.31, but the two stocks that carry the AI trade moved the other way after Tuesday's close: Netflix slipped to $64.74 (-5.8%) after guiding Q4 EPS of $0.67, below the street, while SpaceX jumped about 8% to near $160 on its first profit as a public company and revenue up 161%. Netflix is now below its 52-week low of $65.08. Here are the numbers, the $65 / $70 levels and the two catalysts that matter this week.

Gold Price Analysis Today | Forex Gold Analysis | XAU/USD Analysis - October 21, 2026 Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for October 21, 2026. Read on for the details.

Author Mitrade

18 hours ago

Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for October 21, 2026. Read on for the details.

Australian Dollar trades near monthly high, above 0.7000 as hawkish RBA offsets USD uptick The AUD/USD pair trades with a positive bias for the fourth straight day, holding steady above the 0.7000 psychological mark during the Asian session on Wednesday and flirting with the monthly high it touched the previous day.

Author FXStreet

19 hours ago

The AUD/USD pair trades with a positive bias for the fourth straight day, holding steady above the 0.7000 psychological mark during the Asian session on Wednesday and flirting with the monthly high it touched the previous day.

Popular Symbols