The “Wolf of Wall Street” is Calling for $100,000 Bitcoin

With the growing popularity of Bitcoin, even the “Wolf of Wall Street,” Jordan Belfort thinks the digital currency could soar to $100,000 this year. “People are spoiled by bitcoin,” he said. “Bitcoin has a fixed, finite supply. With stocks, you have an infinite number of shares that can be issued. Bitcoin now has a much bigger base of buyers than ever before,” as quoted in a Business Insider article. The news is even bullish for the miners, including CleanSpark Inc. (NASADQ:CLSK), Riot Blockchain Inc. (NASDAQ:RIOT), Marathon Digital Holdings (NASDAQ:MARA), Bit Digital Inc. (NASDAQ:BTBT), and Canaan Inc. (NASDAQ:CAN).

Thanks to the growth of Bitcoin, the global cryptocurrency mining market size is projected to reach US$ 2584.6 million by 2026, from US$ 1015.9 million in 2020, at a CAGR of 16.8% during 2021-2026,” as reported by Industry Research.

Look at CleanSpark, Inc. (NASDAQ:CLSK), for example

CleanSpark just announced the order of 4,778 additional Bitmain S19 model Bitcoin mining rigs. The Company expects to receive 1,298 of the units for deployment in summer 2021 and the remaining 3,480 units in twelve equal monthly shipments starting in November 2021. These rigs are expected to deliver an estimated 740 PH/s of additional mining capacity. CleanSpark also purchased 48 custom-designed mobile mining data centers to house the units. The Company also updated current energy data on the carbon impact of its facility, progressing towards the stated goal of being the lowest energy cost, cleanest Bitcoin miner in the United States.

CleanSpark ’s local power supplier provided data to the Company this week on the current energy mix provided to its facilities. The sources of power are comprised of nuclear power, hydro-electric power, and solar, resulting in 95% of the electricity utilized for mining to qualify as carbon-free, with only 5% of the supply provided by coal. Within the coming quarter, it is expected that 3% of the energy, currently provided from coal will be taken off-line and replaced with carbon-free sources, such as solar. As a result, the Company expects to be mining Bitcoin with more than 98% Carbon-Free power. CleanSpark plans to install onsite renewable microgrids to further reduce its carbon footprint with a goal of off-setting the remaining coal sources to effectively mine Bitcoin carbon-free.

CleanSpark currently operates Bitcoin mining rigs capable of processing approximately 315 PH/s within its Atlanta complex, and as previously announced, it intends to reach between 1.0 and 1.3 EH/s by the end of summer, 2021.

Zach Bradford, CleanSpark’s Chief Executive Officer stated, “Matthew Schultz, Lori Love and I spent this week at our Atlanta, GA facilities, working alongside our team with electrical, engineering, procurement and construction professionals to ensure our growth plans are completed on time. We’re fortunate to have the available acreage to maximize the value of our unique power agreement in a region so conducive to carbon free power sources. With capital provided by the funding completed last week, we’ve focused aggressively on securing additional locations, miners, and facilities to rapidly expand our Bitcoin operations. The CleanSpark mining operations team is led by world-renowned operators, so identifying opportunities close enough geographically to leverage the knowledge base of our team has been a priority. We are extremely proud to have CleanSpark achieve what we believe to be the only Bitcoin miner to achieve 95% carbon-free operations at scale in the United States. We have a goal of pushing it further to achieve full carbon neutrality in the coming years.”

Other related developments from around the markets include:

Riot Blockchain Inc., one of the leading Nasdaq listed public bitcoin mining companies in the United States, announces an operations update that includes unaudited bitcoin production update through February 2021 and updated miner acquisition and delivery activity. The Company is pleased to announce the purchase of 1,500 S19j (90 TH) Pro Antminers from Bitmain Technologies Limited, which are scheduled for delivery in October 2021. Once deployed, these 1,500 miners, combined with the additional 25,400 miners scheduled to be received during 2021 under previously announced purchase orders, are expected to achieve an estimated aggregate bitcoin mining hash rate capacity of 4.0 EH/s. The aggregate of these miners will utilize approximately 127 MW of energy with an overall estimated operational efficiency of approximately 32.38 ±% 5 joules per terahash (J/TH). The Company is continuously monitoring opportunities for strategic hash rate growth.

Marathon Digital Holdings, one of the largest enterprise Bitcoin self-mining companies in North America, reported financial results for the fourth quarter and fiscal year ended December 31, 2020. “2020 was a momentous year for our business as it marked the beginning of our transition into one of the largest and most efficient Bitcoin miners in North America,” said Merrick Okamoto, Marathon’s chairman and CEO. “In the second half of last year alone, we established our 105 MW mining facility in Hardin, MT, where we have consistent access to electricity at rates far below market average, we presciently purchased more than 100,000 of the industry’s top performing Bitcoin miners before supply began to become constrained, and we enhanced our balance sheet.

Bit Digital Inc., an emerging bitcoin mining company, announced its unaudited Bitcoin production data for the month ended January 31, 2021. During the month, the company earned 424.7 bitcoins, accounting for approximately $14.8 million in revenue. As of January 31, 2021, the company held 488.5 bitcoins in treasury, versus 262.6 bitcoins as of December 31, 2021. The increase in mining production was primarily attributable to the launch of 17,996 additional mining units at the end of 2020. Bit Digital currently owns 40,865 mining machines globally with a combined hash rate of 2,253.5 PH/s, representing an estimated 1.4% of global bitcoin mining network capacity, based on available data at the time of this press release.

Canaan Inc., a leading high-performance computing solutions provider, announced that its revenue visibility has improved substantially in 2021 as a result of attaining purchase orders totaling more than 100,000 units of bitcoin mining machines from customers in North America. Many of those purchase orders were placed with prepayment and will likely occupy the Company’s current manufacturing capacity entirely for the full year of 2021 and beyond. With those fully committed purchase orders, the Company now enjoys a much higher degree of revenue visibility and more precise forecast. As such, the Company is able to leverage such information and additional liquidity to conduct its component purchases, production scheduling, warehousing and logistics.

Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for CleanSpark, Inc. by CleanSpark, Inc. We own ZERO shares of CleanSpark, Inc. Please click here for full disclaimer.

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