Key Takeaways
- MARA mines the 'Trump 47' block to honor Trump's Bitcoin support.
- Trump's energy policies aim to make the U.S. a Bitcoin mining hub.
- Pro-Bitcoin nominations signal potential regulatory and reserve initiatives.
MARA Holdings, a leading Bitcoin mining company, has mined the “Trump 47” block, embedding an AI-generated portrait of President-elect Donald Trump onto the Bitcoin blockchain.
The tribute, announced on Jan. 17 by MARA CEO Fred Thiel, aims to honor Trump for his pro-Bitcoin stance, including plans to make the U.S. the global leader in Bitcoin mining.
Trump’s mining industry alliance
Trump’s alignment with the mining industry began in June 2024 after meeting with executives who proposed making the U.S. the world’s Bitcoin mining capital.
He later pledged to ensure all mined coins are “made in the USA.”
Energy policy impact
Trump’s energy policies have already influenced the sector.
Hive Digital recently relocated its headquarters from Vancouver to Texas, citing Trump’s election win as a catalyst.
Texas, home to MARA, Riot Platforms, and other major mining companies, is expected to benefit from policies aimed at creating the world’s cheapest energy for miners.
Riot Platforms CEO Jason Les called his meeting with Trump on Bitcoin and energy “very good,” signaling further industry support for the president-elect’s initiatives.
Pro-crypto administration
Trump’s shift from Bitcoin skeptic to supporter is underscored by his nomination of crypto-friendly figures, such as Paul Atkins for SEC chair and David Sacks as the White House “AI and crypto czar.”
Strategic Bitcoin reserve plans
The industry now awaits action on his proposed strategic Bitcoin reserve, potentially backed by the BITCOIN Act, which seeks to require the U.S. Treasury to acquire 1 million BTC over five years.
