Former President Donald Trump met with several Bitcoin miners at Mar-a-Lago on Tuesday evening, as reported by Matthew Schultz, the executive chairman of crypto mining company CleanSpark Inc.
Schultz mentioned that during the meeting, Trump expressed his appreciation and understanding of cryptocurrency, noting that Bitcoin miners play a role in stabilizing energy supply from the grid. He also stated that Trump indicated he would support miners while in the White House.
The Trump campaign did not promptly reply to a comment request. Trump mentioned on his Truth Social profile that Bitcoin mining could serve as a crucial defense against a Central Bank Digital Currency (CBDC). He expressed a desire for all remaining Bitcoin to be produced in the United States.
Recently, the ex-president has been focusing more on Bitcoin and other digital currencies during his campaign, seeing them as a means to connect with a broader audience. He has consulted with Elon Musk on this topic and announced at a recent Libertarian Party gathering his intention to reduce the sentence of Ross Ulbricht, the Silk Road’s founder who was convicted. Additionally, his campaign is now open to receiving cryptocurrency contributions.
The gathering occurs amidst challenges faced by cryptocurrency miners, including criticism regarding climate change concerns and their effects on local electricity networks. Democrats have taken the lead in intensifying the examination of Bitcoin miners’ energy usage and carbon footprint, while Texas Senator Ted Cruz has emerged as a prominent supporter of the industry.
The cryptocurrency industry is working hard to support candidates who are viewed positively towards digital assets, often by increasing contributions to the Fairshake political action committee.
The US has supplanted China as the epicenter of Bitcoin mining since 2021 when Beijing enforced an industry ban. The energy-intensive process involves using power-hungry computers to validate encrypted transactions on the Bitcoin blockchain, with rewards earned in the form of tokens.