Bitcoin Mining CEOs Agree on $250K Price Target for 2028 Halving
Top corporate Bitcoin mining executives gathered on September 10th for the HC Wainwright Bitcoin Mining Panel to discuss industry trends, challenges, and the future of Bitcoin. Moderated by SkyBridge Capital’s Anthony Scaramucci, the panel featured CEOs from prominent mining companies including Bit Digital, Bitfarms, CleanSpark, Core Scientific, and Marathon Digital Holdings.
The executives shared insights into various aspects of the Bitcoin mining industry, from energy consumption to market dynamics and long-term outlook.
Fred Thiel, CEO of Marathon Digital Holdings, has highlighted the critical role Bitcoin miners play in balancing the energy grid. “Bitcoin mining is one of the few loads on the energy grid, a base load that can be reduced,” Thiel explained. He said miners can help utilities manage supply and demand fluctuations, potentially Consumer Cost.
The panel addressed misconceptions about the environmental impact of bitcoin mining. Bit Digital CEO Sam Taba said his company’s mining fleet is about 85% carbon-free, distinguishing this from carbon neutrality achieved through offset credits.
Bitfarms CEO Ben Gagnon emphasized the importance of strategic growth and return on invested capital in the mining industry. “We are not a growth company like Facebook or Google. This is not an infinitely scalable software platform,” Gagnon said, emphasizing the need for careful timing of investments in mining equipment.
Zach Bradford, CleanSpark CEO, discussed the company’s energy-first approach and focus on high uptime for its operations. Bradford said:
“We are there to support the grid, but we are providing meaningful support to the grid with about 2% downtime.”
The executives also shared their views on the future value of Bitcoin. Predictions for the Bitcoin price before the next halving ranged from $100,000 to $250,000, with Gagnon suggesting that it could potentially reach $250,000 if the historical cycle plays out.
Adam Sullivan, CEO of Core Scientific, spoke about the industry’s evolution, pointing to a shift from simply surviving market cycles to a sustainable, long-term business model.
According to the panel discussion, Bitcoin mining continues to evolve as a critical component of both the digital asset ecosystem and the energy infrastructure. The executives’ insights showed a largely consolidated industry focused on efficiency, strategic growth, and integration with the broader energy system, while maintaining optimism about Bitcoin’s future value proposition.
