Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
Home»ADOPTION NEWS»CleanSpark CEO Expects Bitcoin to Peak Near $200,000 This Cycle: Bernstein
ADOPTION NEWS

CleanSpark CEO Expects Bitcoin to Peak Near $200,000 This Cycle: Bernstein

By Crypto FlexsSeptember 30, 20244 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
CleanSpark CEO Expects Bitcoin to Peak Near 0,000 This Cycle: Bernstein
Share
Facebook Twitter LinkedIn Pinterest Email

CleanSpark CEO Zach Bradford said in an interview with analysts at research and brokerage firm Bernstein that he expects Bitcoin to reach nearly $200,000 this cycle.

“Current analysis suggests that Bitcoin could peak below $200,000 in the next 18 months. Perhaps it will peak. But I think we will see a rapid takeoff and hopefully a prolonged rally before we revisit the bear cycle,” Bradford told Bernstein’s Gautam Chhugani, according to a note to clients on Monday.

“One positive sign is that Bitcoin’s extended lock-in period shows that sustained bulls can also last longer. “Of course, this can all vary depending on macro events and other factors,” he said.

Historically, the period following a halving tends to see positive adjustments in the Bitcoin price, influenced by capital movements and election cycles, Bradford added. “I think we will see the price of Bitcoin start to rise meaningfully by January after the election, which will result in significant margin expansion for well-positioned miners with efficient cost structures.”

Bradford also said that while he has seen the US presidential election in November impact the price of Bitcoin, it is more important where the election ends rather than who wins, which helps reduce uncertainty. The CleanSpark CEO added that he believes the Fed is a little late in cutting interest rates and expects the central bank to become more aggressive in the next 15 to 16 months. This bodes well for Bitcoin.

Bitcoin, not AI

As AI diversifies Bitcoin BTC

-3.04%
Miner stocks like Core Scientific, IREN, and Terawulf Bradford said Bitcoin-focused operators are currently being underestimated because mining infrastructure is recovering more quickly.

Pure Bitcoin miners have lower capital expenditure costs and faster energy supply compared to the much longer gestation period of AI data centers, and “energy supply and cash flow times” are measured in weeks rather than years, he argued. However, he acknowledged that certain miners have the right AI business model, without naming the companies.

While the focus on Bitcoin could lead to more volatility, Bradford said it is important to time the market effectively. He highlighted CleanSpark’s strategy of selling near peaks and accumulating mined Bitcoin during economic downturns. According to Bradford, the company holds 97% of the Bitcoin mined since June 2023, with current holdings approaching 8000 BTC ($509 million), and plans to fund non-dilutive growth in future bull markets.

The CleanSpark CEO added that the company’s strength lies in acquiring smaller sites, ranging from 25 MW to 75 MW, at less than $500,000 per MW, much cheaper than its peers. In this way, CleanSpark has been able to scale up to 1GW of power contracts across five US states, which Bradford believes is being underestimated in the market.

With the rapid advancement of Bitcoin mining equipment, Bradford expects the efficiency of next-generation chips to reach 11J/TH, at which point the form factor of the machines will change due to power intensity and heat generation.

This means the facility must convert from air cooling to immersion cooling, which is a focus of CleanSpark, Bradford said. Immersion cooling also has the benefit of reducing noise pollution, potentially helping Bitcoin miners gain local authority approval for field applications.

However, once mining volumes reach 15J/TH, the benefits of upgrading to new chips are limited, Bradford added. This could lead to lower mining equipment costs as competition increases from Bitmain, the dominant maker of Bitdeer and Jack Dorsey’s Block.

Bernstein rates CleanSpark as an outperformer with a $30 target price. CLSK’s stock price closed at $10.13 on Friday, according to TradingView.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2024 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

NVIDIA improves everything by acceleration of RTX AI PC.

June 2, 2025

BNB AI Hackathon promotes innovative projects to higher classes

June 2, 2025

Stellar (XLM) Soroban Audit Bank Smart Contract Security Improvement

June 2, 2025
Add A Comment

Comments are closed.

Recent Posts

Bitcoin vs Altcoins-Check for the new ALT season.

June 2, 2025

NVIDIA improves everything by acceleration of RTX AI PC.

June 2, 2025

SPX, DXY, BTC, ETH, XRP, BNB, SOL, Doge, ADA, Hype

June 2, 2025

Electrum testnet wallets do not display the trading record for the address.

June 2, 2025

BNB AI Hackathon promotes innovative projects to higher classes

June 2, 2025

It is so easy to be a millionaire! Winner Mining helps to become rich in 2025

June 2, 2025

Can Ether Lee’s signal with a major candlestick pattern?

June 2, 2025

Stellar (XLM) Soroban Audit Bank Smart Contract Security Improvement

June 2, 2025

Flux.1 KONTEXT: Edit Image Editing as a Multimodal Model

June 2, 2025

Genzio podcast | Vault12 encryption inheritance and asset management | Toronto

June 2, 2025

TRON (TRX) sets a new record for monthly transmission in May.

June 2, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Bitcoin vs Altcoins-Check for the new ALT season.

June 2, 2025

NVIDIA improves everything by acceleration of RTX AI PC.

June 2, 2025

SPX, DXY, BTC, ETH, XRP, BNB, SOL, Doge, ADA, Hype

June 2, 2025
Most Popular

Figment Capital leads Semantic Layer’s $3 million seed round.

October 9, 2024

Galaxy Digital sees ‘tremendous global demand for Bitcoin’. ‘There is a new army of buyers,’ says the CEO.

March 3, 2024

Revolut is looking to sell $500 million worth of stock at a valuation of $40 billion.

June 23, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.