Cryptobull predicts $BTC from $30K to $120K, $ETH from $1.8K to $9K.

Cryptobull predicts $BTC from $30K to $120K, $ETH from $1.8K to $9K.

Bitcoin miners, including Cipher, CleanSpark, and Hut 8, have reported their Q2 earnings, reflecting the impact of Bitcoin's price increase and their strategic expansions. Meanwhile, Ethereum's price is navigating a crucial zone, with analysts predicting further gains.

Bitcoin Miners' Q2 Earnings

Several bitcoin miners, including Cipher (CIFR), CleanSpark (CLSK), and Hut 8 (HUT), published their Q2 earnings reports on Thursday. The quarter saw Bitcoin's price rise by about 26% to around $109,000, benefiting miners due to the relatively stable cost of electricity [1].

- Cipher reported a net loss of $46 million, driven by infrastructure investments and the delivery of self-mining capacity. Despite the loss, its bitcoin mining revenues climbed to $43,565, up from $36,808 in the year-ago period [1].
- CleanSpark reported $181.7 million in quarterly revenue, up 62.5% year-over-year, with its bitcoin production growing to 1,957 BTC. The firm's bitcoin treasury holdings also rose to 12,703 BTC [1].
- Hut 8 reported revenue of $41.3 million, net income of $137.5 million, and adjusted EBITDA of $221.2 million. The firm's revenue was driven by its compute business, which includes Bitcoin Mining, GPU-as-a-Service, and Data Center Cloud operations [1].

Ethereum Price Prediction

Ethereum's price is currently trading around $3,800, with analysts predicting a potential break above $4,000 if its current bullish momentum continues. The recent recovery is underpinned by a strong rise in daily transaction volumes, with Ethereum processing nearly 1.87 million transactions on August 6 [2].

Ethereum's growing utility is drawing attention from institutional investors, with treasury-holding companies and U.S. spot Ethereum ETFs accumulating around 1.6% of the total ETH supply since June. The recently passed GENIUS Act in the U.S. has boosted regulatory clarity for stablecoins, contributing to Ethereum's transaction growth [2].

Price Predictions

Cryptobull predicts Bitcoin's price to rise from $30,000 to $120,000, while Ethereum's price is expected to increase from $1.8K to $9,000 [3].

References

[1] https://www.theblock.co/post/366037/bitcoin-miners-cipher-cleanspark-and-hut-8-see-modest-increases-in-q2-revenues-amid-rising-btc-price
[2] https://bravenewcoin.com/insights/ethereum-eth-price-prediction-ethereum-gains-strength-above-3700-is-4000-within-reach
[3] https://example.com/predictions (Note: The URL for the price prediction article is not provided in the source materials, so a placeholder is used.)