In an offering that is nothing short of outrageous in its embrace of both cryptocurrency and politics, publicly traded Bitcoin mining company Marathon Digital Holdings (ticker: MARA) is mining a “Trump 47” block to pay homage to Donald Trump as the first “Bitcoin president” of the United States.
MARA affirmed the milestone in a statement on January 17, three days before Trump’s inauguration on January 20. The block is saved on the Bitcoin blockchain with a marker of an image generated by artificial intelligence, such as Trump.
No wonder, along with the image of Trump, MARA placed the full text of the U.S. Constitution and the Bill of Rights in the block. It also brings memories to the incoming president and affirms dictums like liberty, which acts as the bedrock of Bitcoin.
Today, MARA mined the “Trump 47” block, a historic visual marker on the Bitcoin blockchain to honor the inauguration of President-Elect @realDonaldTrump, the first Bitcoin President of the United States. https://t.co/piHZExBDnB pic.twitter.com/L2w8qFKTLw
— MARA (@MARAHoldings) January 17, 2025
Marathon Digital Celebrates ‘Trump 47’ Bitcoin Block Milestone
Marathon Digital’s Bitcoin mining of the ‘Trump 47’ block was announced and celebrated by its chairman and CEO, Fred Thiel, through X (formerly known as Twitter).“It is our pleasure to write about this historical event on the blockchain. President Trump’s stance on Bitcoin and his view of a new financial revolution that will put America on the map in the cryptocurrency space,” Thiel added.
The move would also fit Trump’s public advocacy for Bitcoin and cryptocurrencies, a stance he took during his 2024 presidential bid. As a Republican nominee, Trump attended the Bitcoin 2024 Conference and held meetings with the Bitcoin mining companies in the United States. Post the election victory, Trump has ensured to proceed with such policy by coming up with plans to deregulate cryptocurrency.
Among the implementations applied by Trump is creating a strategy of purchasing Bitcoin for a reserve, intended to revitalize the US economy and become a leader in issuing digital assets. MARA also penned an open letter calling on the incoming administration to act on this reserve last week.
The Trump administration has swung and will continue to do so through major appointments that mirror Trump’s pro-crypto stance. The US Securities and Exchange Commission nominee Paul Atkins, a commissioner who has previously passed pro-crypto reforms at the agency, has been chosen for the position.
Now ex-PayPal executive David Sacks is expected to assume the position of the White House “crypto czar,” whose primary responsibilities include overseeing the regulation of cryptocurrencies and related innovations.
Marathon Digital used its in-house mining pool to form the historic Trump 47 block as a testament to Trump’s sustainability plan of making the United States the premier Bitcoin mining hub in the world. The decision also reinforced the company’s advocacy of Bitcoin as part of the needed improvement within the country.
Many discussions have emerged regarding the “Trump 47” block of mining, both in the cryosphere and politically. Some use it as a sign of Bitcoin gaining further acceptance as a form of prosperity and being adopted into the political arena, while others see it as the negative side of associating politics with such decentralized technology.
While the world awaits Trump’s inauguration and consequent policy changes, the ‘Trump 47’ block remains significant evidence of growing ties between Bitcoin and Trump’s administration in the United States. In the eyes of the crypto sphere, it might be a stepping stone to an age when digital assets finally receive the backing of the elite.
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