Trump meets with top miners: Ensuring the key industry of Bitcoin stays in the United States

Original author: Chloe, PANews

On June 12, former US President Trump posted on Truth Social, expressing his hope that the remaining Bitcoin will be mined within the United States. Trump mentioned in his post that this measure aims to ensure that the key industry of Bitcoin can stay in the United States to strengthen the country’s control and economic influence over cryptocurrency.

Presidential Roundtable Meeting on Bitcoin Mining

According to Matthew Schultz, the CEO of CleanSpark Inc., a Bitcoin mining company, several representatives from the Bitcoin mining industry met with former President Trump at the Mar-a-Lago estate on Tuesday night. Schultz said that Trump told the attendees that he likes and understands cryptocurrencies, and also added that Bitcoin miners help stabilize the energy supply of the power grid. Schultz also stated that Trump said he would cheer for the miners at the White House.

The attendees at what’s being billed as a “presidential roundtable for the Bitcoin mining industry” include CleanSpark and Riot Platforms, both listed on NASDAQ, as well as Marathon Digital and other prominent industry participants. Key figures include S. Matthew Schultz from CleanSpark, Jason Les and Brian Morgenstern from Riot Platforms, Salman Khan, CFO of Marathon Digital, and Amanda Fabiano from Fabiano Consulting (former Galaxy mining executive and Fidelity director).

Some of them also released photos with Trump.

“I just met someone who really likes Bitcoin and also likes what CleanSpark is doing in Georgia, Mississippi, and Wyoming.” CleanSpark’s S Matthew Schultz wrote on X platform.

“I had a great meeting with former President Trump, discussing Bitcoin and America’s energy advantage!” said Jason Les of Riot Platforms.

Attitude towards ‘Bitcoin’ has shifted, and the encryption community has become an important campaign donor

The convening of this meeting comes at a time when cryptocurrency miners are facing strong opposition due to a series of issues, including climate change and its impact on the local power grid. The Democratic Party has been pushing for a review of the energy consumption and carbon emissions of Bitcoin miners. Criticism of Bitcoin miners is not only being voiced, but efforts are also being made to strengthen regulation and restrictions.

At the same time, the cryptocurrency industry continues to strive to support candidates who understand digital assets by providing more donations to the Super PAC Fairshake. (Related reading: How the cryptocurrency industry affects the US election, understanding the Super Political Action Committee Fairshake in one article)

At his NFT dinner in May, Trump generously showed that his attitude towards the Crypto Assets industry and regulation has changed (in 2019, Trump publicly stated on Twitter that he does not like Bitcoin and other Crypto Assets because they are not coins, their value is highly Fluctuation and has no real basis), and revealed that his campaign will start accepting Crypto Assets donations. (Related reading: Trump “rubbed” on the encryption circle: buy $4653 NFT to participate in the dinner, related MEME coin fly pump)

In addition, he also criticized the current President Biden’s tough stance on cryptocurrency and emphasized that Biden doesn’t understand cryptocurrency at all. Trump said, ‘The future of cryptocurrency is in the United States, and it will not be driven overseas by regulatory supervision.’ He also publicly supports the self-custody rights of 50 million cryptocurrency holders in the United States.

Bitcoin Magazine CEO, David Bailey, assistant to the Trump campaign’s cryptocurrency team, previously revealed that when he first met Trump, he asked if Bitcoin could be used to solve the problem of the US’s $35 trillion national debt.

On the other side, Biden’s campaign team is formulating a digital asset policy for the cryptocurrency industry. According to The Block’s report at the end of last month, sources told The Block that they noticed a significant ‘shift’ in the position of the Biden administration and campaign, not only turning towards cryptocurrency friendliness, but also willing to delve into digital assets and their communities.