Bitcoin miner stocks rallied significantly on Wednesday, buoyed by former U.S. President Donald Trump's vocal support for domestic Bitcoin mining operations amid concerns over Central Bank Digital Currencies (CBDCs).

TeraWulf, a prominent player in the mining sector, led the charge with its shares spiking nearly 20% during the trading session. This surge marked a strong recovery for mining stocks, which had experienced declines in previous trading days. Concurrently, Bitcoin's price also rebounded approximately 5%, suggesting Trump's comments may have contributed to the positive sentiment driving mining stock gains.

Trump's endorsement of Bitcoin mining as a strategic asset for the U.S. was disseminated via his social media platform, Truth Social, late Tuesday night. "VOTE FOR TRUMP! Bitcoin mining may be our last line of defense against a [Central Bank Digital Currency]," the post asserted. Trump also criticized President Biden's stance on Bitcoin, framing it as beneficial to geopolitical rivals like China and Russia.

TeraWulf's shares surged to a high of $4.13 on Wednesday, according to Yahoo Finance, reflecting a 19% increase compared to the previous day's closing price. By midday, the stock had slightly pulled back to $3.96, still holding a robust gain of 14% over Tuesday's close. Over the past month, TeraWulf's shares have soared by more than 70%, underscoring the market's bullish sentiment towards Bitcoin mining stocks.

Other mining companies also saw notable increases in their stock prices on Wednesday. MicroStrategy, known for its Bitcoin holdings, rose approximately 7%, while Hive Digital Technologies surged nearly 8%. Iris Energy, which demonstrated resilience during a recent sector-wide selloff, posted a 3% increase at the time of publication.

Bitcoin's price surged above $69,000 following the release of Wednesday’s U.S. inflation report, which showed milder-than-expected inflationary pressures. This positive economic data further fueled investor optimism in Bitcoin and related sectors, including mining.

Trump's outspoken endorsement of Bitcoin mining as a strategic imperative for the U.S. underscores the growing importance of cryptocurrencies in geopolitical discussions. As mining stocks continue to attract attention amid regulatory and economic developments, their performance remains closely tied to broader market sentiment towards digital assets and technological sovereignty.