This morning MARA, the largest publicly traded Bitcoin mining company, shared that it will be exiting three data centers in the US.
Would it have made such an announcement if Harris had won the election? Maybe. (It’s not like they rolled out these data centers overnight.)
But would they have made the announcement too soon, highlighting the fact that the bitcoin mining company will be “Made In USA”? Probably not.
America’s computing power is growing rapidly. Today, we announce:
-Three new data centers.
-Owned and operated in Ohio.
-372 megawatts of power.#Bitcoin – Made in the USA. pic.twitter.com/ltDbhKrCHJ— MARA (@MARAHoldings) November 11, 2024
The “Made In USA” line may be a nod to President-elect Donald Trump, who has said he wants all future bitcoin mining in the United States.
Since Trump won the election, the shares of bitcoin mining companies across the board have increased, and CleanSpark (CLSK) was even suspended due to such a price increase, which shows that not only miners but also investors believe that Bitcoin mining is acceptable. US and that the industry will prosper as a result.
And it’s not only Bitcoin miners who feel that Bitcoin companies are safe to operate in the US Alex Leishman, CEO and CTO of Bitcoin exchange River, also believes that the Trump administration will be kind to Bitcoin businesses (and owners of Bitcoin).
The biggest risks to Bitcoin have been eliminated or made less likely this year:
– Federal Ban / Chokepoint (with Trump this is very unlikely)
– Gox coins (coins already distributed)
– Restraint ban (less likely with Trump)– Alexander Leishman 🇺🇸 (@Leishman) November 11, 2024
In this tweet, Leishman appears to be referring to the promise Trump made in his keynote speech at Bitcoin 2024 to protect the right to self-regulation and stop the Federal bureaucracy from illegally disrupting the Bitcoin and crypto industry.
Will Trump follow through on all his promises? It’s hard to say.
It looks like he will, however, as the money talks and the Bitcoin/crypto lobby have raised millions for the Trump campaign.
For now, however, optimism is rising, which is refreshing after four years of the Biden administration, which makes Bitcoin and crypto companies feel uneasy about their position in the US.