CleanSpark CEO Predicts Bitcoin Price Surge to $200,000

Bitcoin Price to $200,000? CleanSpark CEO Says It'll Happen in 18 Months - Decrypt

CleanSpark CEO Zach Bradford Monday said Bitcoin could peak at nearly $200,000, potentially within the next 18 months. In an interview with Bernstein, he said that this bullish momentum is expected to commence following the U.S. presidential election. "I believe we could see Bitcoin peak just under $200,000, sometime in the next 18 months," he said, adding that the upcoming U.S. presidential election could play a significant role in driving this price movement. "It's less about who wins and more about the election being over, which brings certainty," he said. Bradford added that the post-election period typically brings stability, reducing market nervousness and providing an environment conducive to Bitcoin's growth. Bradford said the company's strategic focus is on mining currently, underpinning his belief that the opportunity in Bitcoin is immediate compared to other technologies, like AI. He pointed out that Bitcoin mining infrastructure offers a faster payback and quicker energization, with revenues beginning in weeks rather than years. "The best use of our capital is to get as much [Bitcoin] today as we can," he said and added that by consolidating the mining space and securing efficient power contracts, CleanSpark aims to capitalize on the anticipated market surge. Despite the uncertainty surrounding the U.S. presidential election, Bradford said that the election's conclusion could remove a layer of market anxiety, allowing Bitcoin to gain strength. "I think we'll start seeing a meaningful push in Bitcoin prices post-election through January, which should result in significant margin expansion for well-placed miners with efficient cost structures," he said.

Bitcoin Miner CleanSpark Bets Big On Bull Market: 'We Could See Bitcoin Peak Just Under $200K,' Says CEO

CleanSpark is acquiring and developing mining sites to capitalize on Bitcoin's potential rally. Bitcoin mining giant CleanSpark CLSK is betting big on the next crypto bull run, as CEO Zach Bradford told Bernstein analysts that the company plans to aggressively expand mining capacity ahead of and expected Bitcoin BTC/USD price surge. What Happened: "I believe we could see Bitcoin peak just under $200,000, sometime in the next 18 months," Bradford told Bernstein analysts in an interview. He expects the upward move to begin after the U.S. presidential election. To capitalize on this potential rally, CleanSpark is rapidly acquiring and developing mining sites. Bradford noted, "We started the year just under 10EH/s, we crossed 26EH/s this month. With those acquisitions we should be 30EH/s, just right around the corner." The company is focusing on smaller, distributed mining operations rather than massive single-site facilities. Bradford explained, "It is much more valuable to the grid when you are located in small pockets around substations, so a distributed network offer ability to manage their own loads, making us more friendly to the grid, thus seeing much better prices." With site acquisitions, CleanSpark has scaled up to 1 gigawatt power contracts across 5 states in the U.S. The acquisitions are smaller size of 25-75 megawatt (MW) sites at less than $0.5 million/MW, much cheaper than its peers' acquiring sites. Also Read: Bitcoin Up 8% In September: What Traders And Analysts Expect For 'Best-Performing' Q4 Why It Matters: While some miners are pivoting towards AI and high-performance computing, CleanSpark remains committed to Bitcoin. Bradford argued, "I don't want to compete directly against hyper scalers if it means being the 18th best at what we do; I aim to be the best at what we do, and the market is rewarding us for that." He added that AI data centers are much longer gestation as most AI data centre revenues are expected to start in 2026/2027. On the other hand, Bitcoin opportunity is today with time to energization and cashflows' in weeks and not years. Analyst Rating: Bernstein maintains an Outperform rating on CleanSpark with a $30 price target, representing a 219% upside from current levels. The firm sees CleanSpark as well-positioned to benefit from the next Bitcoin bull market. What's Next: The influence of Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga's upcoming Future of Digital Assets event on Nov. 19. Read Next: Bitcoin Bull Arthur Hayes Predicts 'Volatility Supercycle' Image: Shutterstock This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Market News and Data brought to you by Benzinga APIs