Former President Trump Meets with Bitcoin Mining Executives to Discuss American-Made Bitcoin

Several top bitcoin mining executives, including CleanSpark chairman Matthew Schultz and CEO Zach Bradford, Riot Platforms CEO Jason Les, and Marathon Digital CFO Salman Khan, met with former President Donald Trump on Tuesday. Trump expressed his desire for the remaining bitcoin to be made in the U.S., stating that it would help the country become energy dominant.

The attendees, who are among the world’s top five bitcoin miners, expressed positivity towards Trump’s stance on bitcoin. Schultz mentioned that Trump is a “huge fan” of bitcoin, while Khan emphasized their commitment to advocating for the industry’s future.

While achieving a 100% share of the global hash rate is technically impossible due to the decentralized nature of the network, experts like Chris Matta and Matthew Sigel believe that the U.S. could dominate bitcoin mining by encouraging domestic mining and fostering investment in energy infrastructure.

Trump’s position on bitcoin mining stands in contrast to the current administration’s proposals for excise taxes on mining, which could potentially drive hashpower to other jurisdictions. Despite the challenges, experts believe that with the right policies, the U.S. could host more than half of bitcoin’s global hash rate within 18 months.

Following the meeting, bitcoin traded around $68,000, rallying nearly 62% so far this year. Bitcoin-related stocks like Coinbase, Marathon Digital, Riot Platforms, and CleanSpark also saw gains in response to the news.

Overall, Trump’s meeting with bitcoin mining executives and his call for American-made bitcoin has sparked discussions about the future of bitcoin mining in the U.S. and its potential impact on the industry.