Bitcoin Mining Stocks Soar Thanks to Trump's Support for Crypto

Bittime - Share prices of major Bitcoin mining companies saw significant spikes on Wednesday, with some experiencing double-digit increases. This increase coincided with comments made by US presidential candidate, Donald Trump, who supported strengthening the crypto mining industry in the country.

The Biggest Winners Ride the Trump Tide

Quoting Cointelegraph, the top ten Bitcoin mining companies by market value saw an average increase of around 10% in their share prices. TeraWulf (WULF) and Hut 8 Mining (HUT) emerged as the biggest winners, with their shares up 10.5% and 10.07% respectively on June 12.

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Strong Performance Across the Board

Other standout performers included Core Scientific (CORZ) up 9.87%, Iris Energy (IREN) up 9.72%, and Cipher Mining (CIFR) up 8.94%. Industry leaders CleanSpark (CLSK) and Riot Platforms (RIOT) also contributed to the gains, rising 8.15% and 6.5%, respectively.

Market Value Soars

Interestingly, Marathon Digital (MARA), currently the largest Bitcoin miner by market value, only experienced a relatively small increase of 2.4% on the day. Canaan Creative (CAN), a large Bitcoin miner from China, was the only company among the top 20 to see its share price decline.

This positive performance pushed the overall market value of the Bitcoin mining industry to a staggering figure of $26.4 billion, as reported by Companies Market Cap.

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Trump's Influence on Crypto

While the exact cause of this surge is still open to discussion, Trump's recent comments in favor of a strong US crypto mining sector are believed to be a significant contributing factor. Investors appear optimistic about the potential benefits of such policies, leading to increased interest in Bitcoin mining companies.

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How to Buy Crypto in Bittime

You can buy and sell crypto assets in an easy and safe way via  Bittime .  Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.

Monitor price chart movements  of Bitcoin (BTC) ,  Ethereum (ETH) ,  Solana (SOL)  and other cryptos to find out today's crypto market trends in real-time on Bittime.

Also read:

Donald Trump Wants Remaining Bitcoins to Be Mined by US Miners

Donald Trump Meets Bitcoin Miners, What's Up? This is the answer

Donald Trump Affirms the Future of Crypto and Bitcoin in the USA

DISCLAIMER:  This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.