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The independent candidate has scheduled a national address for Friday.

Bitfarms' shares were up nearly 6% at $2.13 as of 14:00 UTC following Riot's announcement.

The short-seller has targeted MicroStrategy previously.

The company has the financial capacity to consolidate the bitcoin mining space, the report said.

The company said it will use both Ripple USD (RLUSD) and XRP for cross-border payments services.

Chris Larsen's endorsement comes as Ripple has emerged as one of the biggest donors in the 2024 U.S. elections.

Ripple co-founder and Executive Chairman Chris Larsen said he'd added another $10 million in the Ripple-tied token {{XRP}} in an effort to boost Vice President Kamala Harris as the Democrat faces off against former President Donald Trump in next

Ripple has added another $25 million to the coffers of Fairshake, a federal crypto super political action committee (PAC) that’s spending big this election year to support crypto-friendly Congressional candidates.

The new features could allow companies to tokenize and manage real-world assets (RWAs) as well as other cryptocurrencies on XRP Ledger.