Bitcoin’s price has once again approached the highly anticipated $100,000 milestone, marking a significant moment for the cryptocurrency market. While volatility remains a defining feature of the asset, industry experts suggest that recent pro-crypto policies from the Trump administration could sustain the current Bitcoin price surge and push it even higher in the coming years.

Bitcoin Volatility and Market Trends

Despite surpassing $100,000 briefly, Bitcoin has dipped slightly, with its price trading at approximately $97,200. This fluctuation is not unexpected, as market analysts emphasize that Bitcoin volatility is a natural occurrence in bull markets.

“This isn’t the first time we’ve seen such volatility, and it won’t be the last,” said Charles Wayn, co-founder of Web3 infrastructure provider Galxe.

Meanwhile, Ethereum (ETH) has also seen notable gains, rising to $2,769 as Ethereum ETFs recorded an impressive $1.5 billion in trades earlier this week.

Pro-Crypto Policies Fuel Bitcoin Optimism

One of the major factors contributing to Bitcoin’s price surge is the Trump administration’s growing support for the cryptocurrency sector. On Tuesday, White House crypto czar David Sacks outlined plans to overhaul regulations and restore confidence in the digital asset industry.

“Trump has realized that crypto is a major economic driver,” said Barry DiRaimondo, a leading blockchain investor. “You can either fear it or embrace it. Trump has chosen the latter.”

Bitcoin Price Surge Predictions: How High Can It Go?

Analysts remain bullish on Bitcoin, predicting that the rally is far from over. Geoffrey Kendrick, head of crypto research at Standard Chartered (LSE:STAN), expects Bitcoin price to reach $500,000 by 2028.

His projections are based on several factors, including:

Institutional adoption: More financial firms are integrating Bitcoin into their portfolios.

Regulatory clarity: Clearer policies could encourage broader investment.

Macroeconomic trends: Bitcoin remains a hedge against inflation and monetary debasement.

Ethereum and the Broader Crypto Market Outlook

While Bitcoin remains the focus, Ethereum’s rising price and ETF demand indicate that institutional investors are diversifying their crypto holdings. Ethereum’s growing adoption in DeFi (Decentralized Finance) and NFTs (Non-Fungible Tokens) has strengthened its long-term prospects.

Will Bitcoin Break the $100K Barrier for Good?

The question remains whether Bitcoin can sustain its price above $100,000. Factors such as regulatory developments, macroeconomic conditions, and investor sentiment will play a key role in shaping the next phase of Bitcoin’s price surge.

For now, the market remains highly optimistic, with experts predicting further gains in the months ahead.

The Future of Bitcoin and Cryptocurrency Regulation

As Bitcoin continues its ascent, regulatory clarity will be crucial in determining whether this Bitcoin price surge is sustainable. The Trump administration’s pro-crypto stance has already signaled a shift in policy, with officials advocating for clearer regulations that could attract more institutional investors.

Financial firms, including BlackRock (NYSE:BLK) and Fidelity Investments, have been expanding their crypto offerings, suggesting growing confidence in Bitcoin’s long-term value. Additionally, global adoption is rising, with countries such as El Salvador and Hong Kong integrating Bitcoin into their financial systems.

However, risks remain. Potential interest rate hikes and economic downturns could slow down momentum. Additionally, regulatory uncertainty in the U.S. and abroad could impact investor sentiment.

Long-Term Outlook: Is Bitcoin Price Headed for $500K?

If Bitcoin maintains its upward trajectory, reaching $500,000 by 2028 as predicted by Standard Chartered’s Geoffrey Kendrick, it would solidify its position as digital gold. Factors such as increased institutional adoption, global economic instability, and regulatory support could all contribute to this growth.

For now, investors and analysts are watching closely to see if Bitcoin can break past $100,000 for good—a milestone that could reshape the cryptocurrency market for years to come.

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A Canadian man has been indicted in the United States for allegedly orchestrating a $65 million cryptocurrency fraud scheme. Andean Medjedovic, 22, reportedly exploited vulnerabilities in blockchain protocols to siphon millions from investors. If convicted, he faces up to 90 years in prison.

Exploiting Blockchain Vulnerabilities

According to U.S. prosecutors, Medjedovic leveraged weaknesses in automated smart contracts used by cryptocurrency platforms KyberSwap and Indexed Finance between 2021 and 2023. These platforms facilitate decentralized financial transactions through self-executing contracts on the blockchain. The indictment states that he used deceptive trading strategies to manipulate key variables in these contracts, allowing him to withdraw millions at artificial prices.

His tactics involved borrowing hundreds of millions in digital assets to execute misleading trades, ultimately depleting investor funds and rendering their holdings worthless.

Laundering Stolen Cryptocurrency

Beyond the alleged theft, Medjedovic is accused of attempting to launder the stolen assets using advanced blockchain tools. The indictment details how he moved funds through bridge protocols, which transfer cryptocurrency across different blockchains, and cryptocurrency mixers, designed to obscure the origin of digital assets.

When one bridge protocol froze his transactions, Medjedovic allegedly contacted an undercover law enforcement agent posing as a software developer. He reportedly offered $80,000 to bypass security restrictions and retrieve approximately $500,000 in frozen assets.

Online Boast and Past Legal Trouble

Evidence presented by U.S. authorities includes messages where Medjedovic appeared to boast about his activities. In a 2021 online message, he allegedly wrote:

“I did something very cool but accidentally doxxed myself in the process. I may be on the run forever now … Need some advice about becoming a pirate.”

This is not Medjedovic’s first legal entanglement. In 2021, he was sued in Canada by Cicada 137 LLC, a firm managing investor funds in Indexed Finance. The lawsuit accused him of stealing $15 million and described him as possessing a “formidable mathematical prowess” that enabled him to engineer the attack.

A court order allowed authorities to search his parents’ home for evidence, but by then, he had reportedly moved out, taking his devices with him. He was later found in contempt of court, leading to an arrest warrant.

Potential Consequences of Cryptocurrency Fraud

Medjedovic faces multiple charges, including:

Wire fraud (20 years per count)

Attempted extortion under the Hobbs Act (20 years)

Money laundering conspiracy (20 years)

Money laundering (20 years)

Unauthorized damage to a protected computer (10 years)

If convicted on all counts, he could serve up to 90 years in prison.

FBI’s Warning to Cybercriminals

Law enforcement officials emphasized that cybercriminals exploiting blockchain technology are not beyond reach. FBI Assistant Director James Dennehy stated:

“Hackers can at times be painted in a flattering light by pop culture … They’re stealing money that isn’t theirs, and they’re breaking the laws of this country. (Medjedovic), along with all the other cybercriminals who believe they’re untouchable, will face justice.”

As authorities continue their search for Medjedovic, the case underscores growing concerns about cryptocurrency fraud and the risks associated with decentralized finance platforms.

The Growing Threat of Cryptocurrency Fraud

Medjedovic’s case highlights the increasingly sophisticated nature of cryptocurrency fraud and the challenges regulators face in combating financial crimes in the decentralized space. Blockchain technology offers privacy and security advantages, but it also enables criminals to exploit vulnerabilities with limited oversight.

As authorities strengthen efforts to track illicit transactions, cases like Medjedovic’s demonstrate the importance of robust security measures in the crypto industry. Investors are urged to remain cautious and conduct due diligence before engaging with DeFi platforms. Law enforcement agencies continue to develop new strategies to hold cybercriminals accountable, ensuring that fraudsters face justice.

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626 bitcoin mined and 40 EH/s surpassed in operating hashrate

More than 8% fleet efficiency improvement month over month

LAS VEGAS, Feb. 4, 2025 /PRNewswire/ — CleanSpark, Inc. (Nasdaq: CLSK), America’s Bitcoin Miner® (the “Company”), today released its unaudited bitcoin mining and operations update for the month ending January 31, 2025.

“CleanSpark powered through January, continuing to improve efficiency and reach new milestones despite historic weather events across several of our regions. We crossed the 40 EH/s milestone, achieved more than 10,500 bitcoin held in treasury, and celebrated the five-year anniversary of our uplisting on Nasdaq by ringing the bell last week,” said Zach Bradford, CEO and President of CleanSpark. “Now, the entire team is focused on executing our path to 50 EH/s and building on our top three position across operating hashrate, marginal cost per coin, fleet efficiency, bitcoin held, and total uptime. This month we saw our interruptible power contracts in action as we curtailed portions of the portfolio during extreme cold weather events. We demonstrated our ability to support our utility and community partners, specifically during the coldest five days, and the benefit to our broad regional portfolio strategy by mitigating downtime in the Southeast with limited interruption across our other regions. Despite the weather, construction in Tennessee, Georgia, and Wyoming continues as we march toward our midyear goal.”

January Bitcoin Mining Update (unaudited)

• Bitcoin produced in January: 626
• Total bitcoin holdings as of January 31: 10,556
• Month-end operating hashrate: 40.1 EH/s
• MW under contract: 873 MW¹
• Month-end fleet efficiency: 16.15 J/Th
• Total bitcoin sold in January: 22.47
• Deployed fleet: 217,272
• CY2025 bitcoin produced: 626

Throughout January 2025, the Company’s average hashrate was 34.76 EH/s and average fleet efficiency was 17.37 J/Th, resulting in an average of 20.19 bitcoin mined daily. The single day high reached 22.89 bitcoin. The Company sold 22.47 bitcoin during January 2025 at an average price of approximately $100,412 per bitcoin.

¹MW includes all contracted power capacity for wholly owned sites and excludes contracted capacity through hosting agreements and/or other non-binding arrangements.

Additional Updates
Twin City, Georgia. A new 12 MW site in Georgia housing S21 Pro miners is almost fully online, with approximately 0.7 EH/s contributing to CleanSpark’s operating hashrate. The remaining 0.1 EH/s is expected to come online in the coming weeks.

Cheyenne, Wyoming: We are actively deploying in our technologically advanced immersion environment and remain on track for completion in this quarter. Full deployment is expected to contribute 5 EH/s to CleanSpark’s most efficient hashrate once fully energized using the latest generation S21 XP Immersion machines.

About CleanSpark
CleanSpark (Nasdaq: CLSK), America’s Bitcoin Miner®, is a market-leading, pure play Bitcoin miner with a proven track record of success. We own and operate a portfolio of mining facilities across the United States powered by globally competitive energy prices. Sitting at the intersection of Bitcoin, energy, operational excellence and capital stewardship, we optimize our mining facilities to deliver superior returns to our shareholders. Monetizing low-cost, high reliability energy by securing the most important finite, global asset – Bitcoin – positions us to prosper in an ever-changing world. Visit our website at www.cleanspark.com.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In this press release, forward-looking statements include, but may not be limited to, statements regarding the Company’s expectations, beliefs, plans, intentions, and strategies. In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “targets,” “projects,” “contemplates,” “believes,” “estimates,” “forecasts,” “predicts,” “potential” or “continue” or the negative of these terms or other similar expressions. The forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to: completion and performance of Jackson, Tennessee, Cheyenne, Wyoming, and Twin City, Georgia data centers; anticipated additions and targets to CleanSpark’s hashrate and the timing thereof; the risk that the electrical power available to our facilities does not increase as expected; the success of its digital currency mining activities; the volatile and unpredictable cycles in the emerging and evolving industries in which we operate; increasing difficulty rates for bitcoin mining; bitcoin halving; new or additional governmental regulation; the anticipated delivery dates of new miners; the ability to successfully deploy new miners; the dependency on utility rate structures and government incentive programs; dependency on third-party power providers for expansion efforts; the expectations of future revenue growth may not be realized; and other risks described in the Company’s prior press releases and in its filings with the Securities and Exchange Commission (SEC), including under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended September 30, 2023, and any subsequent filings with the SEC. Forward-looking statements contained herein are made only as to the date of this press release, and we assume no obligation to update or revise any forward-looking statements as a result of any new information, changed circumstances or future events or otherwise, except as required by applicable law.

Investor Relations Contact 
Barbara Domingo
702-989-7693
ir@cleanspark.com

Media Contact
Eleni Stylianou
702-989-7694
pr@cleanspark.com

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SOURCE CleanSpark, Inc.

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The Ethereum price surge took the crypto world by storm as the second-largest blockchain saw its value jump 25% in 24 hours. The cryptocurrency soared from $2,300 to over $2,900, recovering from a recent downturn. This latest rally coincided with a tweet from Eric Trump, which fueled speculation about the Trump family’s involvement in crypto markets.

Eric Trump’s post on X (formerly Twitter) simply read: “In my opinion, it’s a great time to add $ETH.” This statement ignited a frenzy of speculation among investors, with many wondering whether the Trump administration might integrate Ethereum into future U.S. crypto policies.

Political Influence on Ethereum’s Price Surge

The timing of Ethereum’s rally is significant, occurring shortly after Donald Trump signed an executive order to establish a U.S. sovereign wealth fund. While the administration has hinted at Bitcoin (CRYPTO:BTC) being included in this initiative, Ethereum (CRYPTO:ETH) has not been officially mentioned.

However, the Trump family’s financial ties to crypto suggest that Ethereum could still play a role in future policy decisions. The newly launched World Liberty Financial, a decentralized finance (DeFi) project reportedly backed by Trump-affiliated investors, has been accumulating Ethereum and wrapped Bitcoin (WBTC) as part of its holdings.

The endorsement from Eric Trump adds weight to the theory that Ethereum could gain political backing in the coming months. If Ethereum adoption increases in government and institutional circles, it could lead to greater mainstream acceptance.

Ethereum vs. Solana: The Battle for Market Dominance

Despite the Ethereum price surge, there are concerns that the blockchain is losing ground to competitors like Solana (CRYPTO:SOL). Over the past year, Solana’s lower transaction costs and faster processing speeds have made it an attractive alternative for developers and investors.

Ethereum, which pioneered smart contracts, has faced criticism for its high gas fees and scalability challenges. While Ethereum’s transition to Ethereum 2.0 has improved its efficiency, many in the industry argue that its market share is being eroded by newer blockchains offering better performance.

The Ethereum community, led by Vitalik Buterin, is currently debating the future of the blockchain. Some developers claim Ethereum needs faster innovation, while others argue that its established network effect makes it the most secure smart contract platform.

Institutional Investors Eye Ethereum’s Potential

The latest Ethereum price surge has caught the attention of institutional investors. With BlackRock (NYSE:BLK) filing for an Ethereum ETF, there is speculation that a regulated investment vehicle could drive further adoption.

A spot Ethereum ETF approval would likely bring in billions of dollars from traditional finance firms, similar to how Bitcoin ETFs boosted BTC’s price. If institutions continue accumulating Ethereum, it could solidify its place as the dominant smart contract blockchain.

Meanwhile, tech giants like Microsoft (NASDAQ:MSFT) and Meta Platforms (NASDAQ:META) are exploring Ethereum-based applications, particularly in the fields of AI, gaming, and the metaverse. This suggests that Ethereum’s real-world utility is expanding beyond simple peer-to-peer transactions.

What’s Next for Ethereum?

While Ethereum’s price surge has created excitement, the road ahead remains uncertain. Key developments to watch include:

Regulatory Clarity – Will the SEC approve an Ethereum ETF, and how will U.S. regulators classify Ethereum’s status?

Adoption in U.S. Policy – Could the Trump administration integrate Ethereum into its crypto strategy?

Ethereum vs. Solana Rivalry – Will Ethereum maintain its lead, or will Solana and other competitors continue gaining ground?

With political endorsements, institutional adoption, and technological improvements in play, Ethereum’s future remains one of the most debated topics in the crypto space. The next few months could determine whether this Ethereum price surge is just a temporary spike—or the start of a much bigger move.

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The appointment of David Sacks as the United States’ crypto czar marks a significant shift in the country’s approach to blockchain and artificial intelligence (AI). With the new administration prioritizing pro-crypto policies, Sacks is expected to lead efforts in crafting a favorable regulatory environment.

“For the last four years, the Biden administration has basically prosecuted and persecuted crypto companies, really driving them offshore,” Sacks recently stated on Fox Business.

On Tuesday, Sacks, a Silicon Valley venture capitalist with close ties to Elon Musk and Peter Thiel, will present his approach in Washington.

David Sacks and the PayPal Mafia

A key figure in the famous PayPal Mafia, Sacks played a pivotal role in the early days of PayPal Holdings Inc. (NASDAQ:PYPL). The 52-year-old South African native, who earned a law degree from the University of Chicago, became the company’s first chief operating officer.

After eBay acquired PayPal for $1.5 billion in 2002, Sacks ventured into startups, founding and investing in companies such as:

Geni, a genealogy platform

Yammer, an enterprise communication tool later acquired by Microsoft (NASDAQ:MSFT)

Zenefits, a human resources software firm

In 2017, Sacks launched Craft Ventures, a venture capital firm backing startups in AI and blockchain, including BitGo, a major player in crypto custody, and Solana (CRYPTO:SOL) via an investment in Multicoin Capital.

The Political Shift: From Tech to Trump

Like Musk and Thiel, Sacks is vocal about his right-wing political stance. He has penned conservative opinion pieces and criticized U.S. foreign aid to Ukraine.

His political engagement intensified in 2023 when he hosted a fundraiser for Donald Trump, raising $12 million for the campaign. Sacks has since become a key policy advisor, particularly on crypto regulations and AI integration.

What’s Next for Crypto Under David Sacks?

Now holding one of the most influential roles in blockchain policy, Sacks faces high expectations from the industry. His priorities include:

Stablecoin Legislation – Pushing for clear regulations on stablecoins like Tether (CRYPTO:USDT).

Bitcoin Strategic Reserve – Exploring whether the U.S. should hold Bitcoin (CRYPTO:BTC) as part of its reserves.

AI & Blockchain Synergies – Encouraging research on decentralized AI applications.

He will have support from other pro-crypto policymakers, including Paul Atkins, Trump’s pick for the Securities and Exchange Commission (SEC), and Howard Lutnick, nominee for Secretary of Commerce, who has business ties to Tether.

As Sacks outlines his vision, the industry will be watching closely. His policies could determine whether the U.S. reclaims its dominance in crypto and AI innovation.

The Future of U.S. Crypto Regulation Under David Sacks

With David Sacks at the helm of crypto and AI policy, industry leaders are optimistic about a more innovation-friendly regulatory landscape. The previous administration’s approach led to regulatory uncertainty, prompting many crypto firms to move operations offshore. Sacks has made it clear that his objective is to bring these companies back and create a business-friendly environment in the U.S.

One of the most anticipated developments under Sacks is the possibility of the U.S. adopting Bitcoin as a strategic reserve asset. While nations like El Salvador have already taken steps in this direction, the U.S. embracing Bitcoin (CRYPTO:BTC) on a national level would be a game-changer for institutional adoption.

Additionally, Sacks is expected to streamline SEC regulations under the leadership of Paul Atkins, reducing legal barriers that have stifled crypto exchanges and DeFi projects.

With AI and blockchain integration also on the agenda, Sacks’ policies could significantly impact sectors beyond finance, including cybersecurity, healthcare, and supply chain management.

As the Trump administration’s crypto czar, Sacks has a unique opportunity to shape the future of digital assets and AI in the U.S. The industry is now waiting to see how his vision translates into concrete policy actions.

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