Zach Bradford, CEO of Cleanspark, one of the companies mining mainly with renewable energy in the USA, evaluated the sector with Bernstein analysts.
“I expect in 18 months”
Stating that he thinks the current cycle will continue for more than 1 year, Bradford stated that he expects a peak level of $200 thousand:
“According to my latest analysis, I think a peak level of $200,000 can be seen in Bitcoin in the next 18 months. Then we can see Bitcoin staying at high prices for a long time. I hope so. I think a bear market will follow this period.”
“Uncertainty will disappear after the elections”
Stating that there is a long-term horizontal trend in Bitcoin, which gives the feeling that this situation will remain at high prices for a long time, Cleanspark CEO said:
“Since horizontal price movements are long-term, I think the upward level will also be long-term. Of course, global events will also affect the price. The post-halving period has generally been good for Bitcoin. I think positive movements will also be seen after the US elections. Regardless of who wins, the removal of uncertainty here will be more positive. I think the price will go up in the period from the election to January.”
“Only Bitcoin miners are underestimated”
Bradford also compared miners that provide data centre services to AI companies with companies that only mine. Stating that only miners are currently underestimated, the manager used the following statements:
“One of the advantages of Bitcoin-only mining companies is that they have lower capital expenditure and can meet their energy needs in less time to become operational. These firms can usually access energy within weeks and start their cash flow. In contrast, getting AI data centres up and running requires a longer lead time. This process can even take years… Therefore, a mining company that gets the timing right can get ahead of the game. As a company, we are currently holding close to 8000 BTC and our plan is to sell some of these BTC when the market rises to cover the costs comfortably.”