CleanSpark CEO Predicts Bitcoin to Reach $200,000 Within 18 Months

CleanSpark CEO Zach Bradford predicts Bitcoin will peak at just under $200,000 within the next 18 months.
CleanSpark has held 97% of its mined bitcoin since June 2023, currently nearing 8,000 BTC, valued at $509 million.

CleanSpark CEO Zach Bradford has forecasted that Bitcoin could approach $200,000 within the next 18 months, citing favorable market conditions and a post-U.S. election surge. In a conversation with Bernstein analysts, Bradford highlighted that Bitcoin’s current flat period could signal an upcoming sustained rise in value.

"I believe we could see Bitcoin peak just under $200,000... That’ll likely be a peak. But I do think we’ll see a rapid jump, and then hopefully, an extended elongated period of it being up before we revisit a bear cycle," he said.

Bradford noted that historical trends, especially post-halving, tend to drive positive adjustments in Bitcoin’s price, and the upcoming election may help reduce uncertainty.

"I think we’ll start seeing a meaningful push in Bitcoin prices post-election through January," he added.

Furthermore, he expects the Federal Reserve to cut interest rates more aggressively in the next 16 months, which could strengthen Bitcoin’s position in the market.

Bradford also weighed in on the current state of Bitcoin mining, stating that pure-play miners like CleanSpark are underrated compared to rivals diversifying into AI. He argued that Bitcoin-focused operators benefit from quicker returns due to lower capital expenditure and faster energization. CleanSpark has retained 97% of its mined Bitcoin since June 2023, accumulating nearly 8,000 BTC worth $509 million, which it plans to sell during future bull markets to fund growth.

CleanSpark has been expanding its mining infrastructure by acquiring smaller 25MW to 75MW sites, scaling up to 1GW across five U.S. states. Bradford also expects new generation mining chips and immersion cooling technologies to play a pivotal role in improving efficiency.

Bernstein rates CleanSpark as an outperform, with a price target of $30. The stock closed at $10.13 last Friday.

Edited by Harshajit Sarmah