Former U.S. President Donald Trump's recent comments on Bitcoin mining have sent mining stocks soaring. On Tuesday, Trump took to Truth Social to express his support for Bitcoin mining, stating that it could be the "last line of defense" against a Central Bank Digital Currency (CBDC). He also emphasized the need for the remaining Bitcoin to be mined in the United States, declaring "We want all the remaining Bitcoin to be MADE IN THE USA!!!"

Trump's comments came as a welcome respite for Bitcoin mining stocks, which had been experiencing a slump in recent days. Led by TeraWulf, which saw a significant 20% increase at one point, Bitcoin mining stocks made a remarkable recovery on Wednesday. The price of Bitcoin also experienced a 5% rebound, indicating a possible correlation between Trump's comments and the market's response.

TeraWulf's shares reached a high of $4.13 on Wednesday, according to Yahoo Finance, representing a 19% gain compared to the previous day's close. Although the shares declined slightly from the day's high to trade at $3.96 by 12:09 p.m. EST, they remained 14% higher than Tuesday's closing price. Notably, TeraWulf's shares have experienced a remarkable 70% increase over the last month, as reported by TradingView.

Other mining stocks also saw significant price increases, with MicroStrategy up by 7% and Hive Digital Technologies up by nearly 8%. Iris Energy, which had held strong on Tuesday amid the sector-wide selloff, saw a 3% increase at the time of publication.

The surge in Bitcoin mining stocks can be attributed to Trump's comments, which have been seen as a vote of confidence in the industry. His emphasis on the need for Bitcoin mining to be done in the United States has also resonated with many in the industry, who see it as a way to promote energy dominance and reduce reliance on foreign powers.

The price of Bitcoin also experienced a significant surge, breaking the $69,000 mark following Wednesday's U.S. inflation report, which came in cooler than expected. This development has been seen as a positive sign for the cryptocurrency market, which has been experiencing a period of volatility in recent months.

Trump's comments on Bitcoin mining have sparked a renewed interest in the industry, with many seeing it as a way to promote energy independence and reduce reliance on foreign powers. As the market continues to evolve, it remains to be seen how Trump's comments will impact the future of Bitcoin mining and the cryptocurrency market as a whole.

In recent months, Trump has been increasingly vocal about his support for Bitcoin and other digital assets. He has taken advice on the subject from industry experts, including Elon Musk, and has pledged to commute the sentence of Ross Ulbricht, the convicted founder of the Silk Road online marketplace. His campaign is also now accepting crypto donations, a move that has been seen as a way to reach out to new voters.

The meeting between Trump and Bitcoin mining officials at Mar-a-Lago on Tuesday has been seen as a significant development in the industry. The fact that Trump is taking an active interest in Bitcoin mining and is willing to meet with industry officials has been seen as a positive sign for the industry, which has been facing challenges in recent months.

As the market continues to evolve, it remains to be seen how Trump's comments will impact the future of Bitcoin mining and the cryptocurrency market as a whole. However, one thing is clear - Trump's support for Bitcoin mining has sent a strong signal to the market, and it will be interesting to see how the industry responds in the coming months.