(Bloomberg) -- Bitcoin miners and crypto companies that have been stonewalled in efforts to go public in the US may ultimately be the biggest winners in the ...
-- Bitcoin miners and crypto companies that have been stonewalled in efforts to go public in the US may ultimately be the biggest winners in the digital-asset world under a second Donald Trump presidency. Foreign companies at risk of losing market share may end up being the biggest losers.That’s the view taking hold among market participants and observers in the wake the former president’s growing embrace of crypto while the odds of his election rise.
Shares of Marathon Digital and Riot Platforms, two of the largest publicly-traded firms, have surged around 30% in that period. Cipher Mining is up almost 50%, with the firm exploring a potential sale after receiving takeover interest, people familiar with the matter said earlier.In what was likely unthinkable after the collapse of crypto markets in 2022, companies in the sector are once again making plans for initial public offerings.
Another loser could be a Chinese multi-billion dollar conglomerate Bitmain. The largest Bitcoin mining machines manufacturer has dominated the market and the majority of US-listed Bitcoin miners are using its rigs. In addition to Trump’s China trade rhetoric, his ambition to make all the remaining Bitcoin in the US may spell more challenges for the company.
OTTAWA — Prime Minister Justin Trudeau will head to British Columbia on Sunday, where he will be on vacation with his family until Aug. 1.
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