Key Takeaways
- CleanSpark CEO predicts Bitcoin will peak near $200,000 within 18 months.
- Pure-play Bitcoin miners are undervalued compared to AI-diversifying competitors.
- CleanSpark has accumulated 8,000 BTC and plans to sell during future bull markets.
In a recent interview with Bernstein, CleanSpark CEO Zach Bradford projected that Bitcoin could peak just under $200,000 within the next 18 months. Bradford believes this surge will be driven by post-election stability and macroeconomic factors, particularly after the U.S. presidential election.
Bradford explained that Bitcoin’s current stability might indicate that its upward trend will last longer than in previous cycles. He expects significant price increases post-election, with notable growth likely extending into early 2025.
Despite the rise of AI-diversifying miners, Bradford emphasized the strength of pure-play Bitcoin miners, arguing that they benefit from faster capital returns and lower expenses compared to AI-based rivals. CleanSpark itself has accumulated nearly 8,000 BTC since June 2023 and plans to sell during future bull markets to fund growth.
Bradford also highlighted that CleanSpark’s success lies in acquiring smaller, more affordable mining sites, allowing the company to scale up quickly. He noted that the next phase of mining efficiency will come from new-generation chips, which will likely require immersion cooling due to increased power usage and heat.
CleanSpark’s stock was rated as “outperform” by Bernstein, with a price target of $30, while its current price stands at $10.13.
