Bitcoin mining stocks experienced a notable rise on Wednesday, spurred by former U.S. President Donald Trump's remarks aligning himself with the mining sector and advocating for increased Bitcoin production within the United States. TeraWulf, in particular, saw a significant surge of nearly 20% during the day, leading the recovery after a recent downturn in the market. This uptick coincided with a broader recovery in Bitcoin prices, which rebounded approximately 5%.

Trump's statements, posted on Truth Social late Tuesday, emphasized the strategic importance of Bitcoin mining as a safeguard against Central Bank Digital Currencies (CBDCs). His post rallied support, urging voters to consider Bitcoin mining as pivotal in countering what he termed as detrimental impacts on national sovereignty and economic influence.

"VOTE FOR TRUMP! Bitcoin mining may be our last line of defense against a [Central Bank Digital Currency]," the post asserted. "Biden’s hatred of Bitcoin only helps China, Russia, and the Radical Communist Left. We want all the remaining Bitcoin to be MADE IN THE USA!!!"

TeraWulf shares peaked at $4.13 on Wednesday, marking a 19% increase from the previous day's close, as reported by Yahoo Finance. By midday, the stock had slightly retraced to $3.96, still reflecting a notable 14% gain over Tuesday's closing price. Over the past month, TeraWulf's shares have surged by more than 70%, illustrating robust investor confidence amidst the evolving regulatory landscape and geopolitical tensions.

Other prominent mining stocks also saw positive movement, with MicroStrategy posting a 7% increase and Hive Digital Technologies climbing nearly 8%. Iris Energy, which exhibited resilience during the recent market downturn, continued its upward trajectory with a 3% gain at the time of publication.

Bitcoin itself surged above the $69,000 threshold following the release of the U.S. inflation report on Wednesday, which indicated lower-than-expected inflation figures, contributing to market optimism and bolstering investor sentiment across the cryptocurrency sector.