Washington (CNN) Sen. Bernie Sanders of Vermont raised more than $34.5 million for his White House bid during the final three months of 2019 -- a sign of his considerable financial strength a little more than a month before Democrats begin selecting their 2020 presidential nominee.

Sanders was the second candidate vying for the Democratic nomination to announce his fundraising numbers in the fourth quarter, a day after former South Bend, Indiana, mayor Pete Buttigieg announced raising $24.7 million . The other Democrats who have emerged in the top tier, former Vice President Joe Biden and Massachusetts Sen. Elizabeth Warren, have not yet announced their totals for the last months of 2019.

President Donald Trump also announced on Thursday that he raised $46 million in the fourth quarter , outpacing the Democratic candidates' individual totals so far.

Sanders' massive haul -- one of the largest quarterly totals of any Democratic candidate this election cycle -- brings the total he has collected to date in his second bid for the presidency to $96 million, and underscores the might of his small-dollar donor base. On Wednesday, Sanders' campaign announced that it had received more than 5 million individual contributions -- a milestone his aides said no other presidential contender had achieved at this point in a White House campaign.

The Vermont independent "is proving each and every day that working class Americans are ready and willing to fund a campaign that stands up for them and takes on the biggest corporations and the wealthy," his campaign manager Faiz Shakir said in a statement. "You build a grassroots movement to beat Donald Trump and create a political revolution one $18 donation at a time, and that's exactly why Bernie is going to win."

Read More