The Biden campaign is reaping the rewards of choosing Sen. Kamala Harris as the presumptive Democratic nominee's running mate, bringing in an estimated $34 million in donations since making the announcement. 

According to CNN, Biden campaign digital director Rob Flaherty said the group raised more than $34 million between Tuesday and Wednesday. The campaign sold $1.3 million worth of yard signs since the announcement. 

"Team Biden-Harris Digital raised $34.2 million between the 11th and 12th," Flaherty said. 

During a virtual fundraiser, Biden lauded people showing a newfound interest in the campaign in light of the Harris announcement.

"The response has been overwhelming. In the last 24 hours, we've raised $26 million. One hundred and fifty thousand of you (were) first-time contributors. It's really palpable, the excitement, because there's so much at stake," Biden said.

An aide told CNN the campaign raised $3 million in an hour during the Wednesday fundraiser.

Biden and Harris will need the money because Trump and the Republican National Committee continue to break fundraising records. 

Trump and his campaign have managed to bring in $1.1 billion over the past two years, but they're also spending significant portions of it, CNN reported.

Despite the fundraising enthusiasm for Trump and a few slow months from Biden's campaign, the two organizations are nearly neck and neck when it comes to cash on hand. Biden is coming off a spectacular July after raising $141 million in June, according to CNN. 

Going into August, CNN reported that Biden's team had about $294 million on hand for the campaign while Trump and the RNC reported having about $300 million. 

Politico noted the vice president selection process involved seeing which candidates could bring in the most money for the Biden campaign. Sen. Elizabeth Warren brought the most firepower, raking in $7.7 million during a series of recent events for Biden. 

Harris came in second, securing more than $5 million in donations from her events for the Democratic presidential candidate, according to Politico.

Both Biden and Harris have sent out a number of emails asking for more donations since the announcement. According to The New York Times, Democratic fundraising platform ActBlue reported receiving at least $10 million in donations in the hours following the announcement. 

Last year, Harris raised about $40 million for her own presidential campaign, and her connections to wealthy Californians are sure to help Biden's campaign.