Deep Tide TechFlow News, on September 30, according to The Block, CleanSpark CEO Zach Bradford said in an interview with Bernstein analysts that Bitcoin is expected to reach a peak of nearly $200,000 in the next 18 months. Bradford believes that Bitcoin prices will rise significantly between the U.S. presidential election and January next year, which will bring significant profits to mining companies with efficient cost structures.
He also pointed out that pure Bitcoin mining companies are currently undervalued compared to their diversified AI competitors. CleanSpark has retained 97% of the mined Bitcoins since June 2023, with current holdings of nearly 8,000 Bitcoins, worth approximately $509 million. The company plans to sell these Bitcoins in future bull markets to support non-dilutive growth.
