Expected changes in Bitcoin mining rewards are set to occur in the upcoming days. Leading up to this event, CleanSpark Inc (NASDAQ: CLSK) has seen a decline of nearly 30% from its highest point this year.

Could Bitcoin halving impact CleanSpark negatively?

While some speculate that the halving could have adverse effects on miners like $CLSK, analysts at Bernstein suggest the contrary might also be true.

Bernstein predicts that Bitcoin (BTC) could reach $150,000 by the end of next year due to the halving and the recent approval of spot exchange-traded funds. Such a surge in the value of the world's largest cryptocurrency may prove beneficial for mining companies such as CleanSpark that have experienced setbacks in recent months.

Despite this, it is important to note that CleanSpark's stock has risen by over 100% compared to its lowest point this year.

$CLSK Expands Mining Fleet

Bernstein analysts are optimistic about $CLSK's outlook, especially following statements made by Zachary Bradford, the company's CEO. In a recent research note, they highlighted the CEO's expectations for industry consolidation, naming RIOT, MARA, CLSK, and CIFR as leaders. The CEO of MARA also identified CleanSpark as a key competitor in the pursuit of acquisition targets.

Let's consider if Grandpa #Bitcoin still has the vigor to embark on another impressive surge in the next 18 months post-halving.

My prediction is that he can still make it happen, possibly surpassing many optimistic forecasts in 2024-25.

CleanSpark's stock is appealing due to expectations of the Nasdaq-listed company transitioning to a profit of 6 cents per share in the current financial quarter, a significant improvement from the 23 cents per share loss reported a year ago.

Just this week, the company, valued at $3.66 billion and based in Henderson, Nevada, integrated 3,900 new machines into its mining fleet.