This morning MARA, the biggest publicly-traded Bitcoin mining firm, shared that it is going to be rolling out three new knowledge facilities within the U.S.
Would it not have made such an announcement had Harris received the election? Most likely. (It’s not like they whisked up these knowledge facilities in a single day.)
However would they’ve made the announcement with such gusto, highlighting the truth that the bitcoin the corporate mines shall be “Made In USA”? Most likely not.
American compute energy is accelerating. Right now, we’re saying:
-Three new knowledge facilities.
-Owned and operated in Ohio.
-372 megawatts of capability.#Bitcoin – Made in USA. pic.twitter.com/ltDbhKrCHJ— MARA (@MARAHoldings) November 11, 2024
The “Made In USA” line is probably going a nod to President-elect Donald Trump, who’s stated he desires all future bitcoin mined in the USA.
Since Trump received the election, the shares for bitcoin mining firms throughout the board have skyrocketed, with CleanSpark (CLSK) even being halted on account of such breakneck upward value motion, indicating that not solely miners but additionally traders imagine that Bitcoin mining is welcome within the U.S. and that the business will thrive because of this.
And it isn’t solely Bitcoin miners who really feel that Bitcoin firms are secure to function within the U.S. Alex Leishman, CEO and CTO of Bitcoin trade River, additionally believes that the Trump administration shall be type to Bitcoin companies (and Bitcoin holders).
Main dangers to Bitcoin have been eliminated or made considerably much less probably this 12 months:
– Federal Ban / Chokepoint (with Trump that is a lot much less probably)
– Gox cash dumping (cash have already been distributed)
– Self custody ban (much less probably with Trump)— Alexander Leishman 🇺🇸 (@Leishman) November 11, 2024
On this tweet, Leishman seemingly refers back to the promise Trump made in his keynote speech at Bitcoin 2024 to guard the best to self-custody and to cease the Federal forms from unlawfully cracking down on the Bitcoin and crypto business.
Will Trump observe by way of on all of his guarantees? Arduous to inform.
It appears probably that he’ll, although, as cash talks and the Bitcoin/crypto foyer raised tens of millions for Trump’s marketing campaign.
For now, although, optimism abounds, which is refreshing after 4 years of the Biden administration, which made Bitcoin and crypto firms really feel uneasy about their standing within the U.S.