Mining

Depending on the November presidential election outcome, Fred Thiel said he would consider “looking outside the US” for Bitcoin mining firm MARA’s operations.

United States Democratic presidential nominee Kamala Harris has the endorsement of many crypto users who may see the campaign as an opportunity for a “reset,” but some in the mining industry are still skeptical.

A MARA — formerly Marathon Digital Holdings — spokesperson told Cointelegraph that the crypto mining firm was attempting to engage with both sides of the political aisle ahead of the 2024 election but had gotten mainly positive responses from those outside the Democratic Party. Republican nominee Donald Trump met with representatives of many mining companies in June, taking photos and declaring his intention to have all Bitcoin (BTC) “made in the USA” — a pledge he reiterated to Bitcoin 2024 conference attendees in July.

Before US President Joe Biden announced he would not run for reelection in 2024, many of the criticisms against the administration on crypto were directed at enforcement actions brought by Securities and Exchange Commission Chair Gary Gensler and legislation equating digital assets with illicit use introduced by Massachusetts Senator Elizabeth Warren. The senator has criticized the energy usage of mining firms, suggesting it could negatively impact the environment.

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