Bitcoin Businesses Feel Safe In The U.S. In Wake Of Trump Victory

This morning MARA, the largest publicly-traded Bitcoin mining company, shared that it will be rolling out three new data centers in the U.S.

Would it have made such an announcement had Harris won the election? Probably. (It’s not like they whisked up these data centers overnight.)

But would they have made the announcement with such gusto, highlighting the fact that the bitcoin the company mines will be “Made In USA”? Probably not.

American compute power is accelerating. Today, we’re announcing:

-Three new data centers.
-Owned and operated in Ohio.
-372 megawatts of capacity.#Bitcoin - Made in USA. pic.twitter.com/ltDbhKrCHJ— MARA (@MARAHoldings) November 11, 2024

The “Made In USA” line is likely a nod to President-elect Donald Trump, who’s said he wants all future bitcoin mined in the United States.

Since Trump won the election, the stocks for bitcoin mining companies across the board have skyrocketed, with CleanSpark (CLSK) even being halted due to such breakneck upward price action, indicating that not only miners but also investors believe that Bitcoin mining is welcome in the U.S. and that the industry will thrive as a result.

And it isn’t only Bitcoin miners who feel that Bitcoin companies are safe to operate in the U.S. Alex Leishman, CEO and CTO of Bitcoin exchange River, also believes that the Trump administration will be kind to Bitcoin businesses (and Bitcoin holders).

Major risks to Bitcoin have been removed or made substantially less likely this year:
- Federal Ban / Chokepoint (with Trump this is much less likely)
- Gox coins dumping (coins have already been distributed)
- Self custody ban (less likely with Trump)— Alexander Leishman