The Fed just hiked and Bitcoin is stuck at $75k. Frank Holmes says it could be at $100k by the end of 2026

Bitcoin gained roughly 25% in August, its strongest month of 2026. A week later, Frank Holmes, executive chairman of HIVE Digital Technologies, joined TheStreet Roundtable to explain what the next leg would do to a miner’s balance sheet.

“With simple math, you’re doing twelve Bitcoin a day and you add another ten thousand dollars per Bitcoin, so that's another hundred and twenty thousand dollars a day," Holmes said. "That would just fall to the bottom line."

Then the Fed raised rates 25 basis points on Sept. 16, and Bitcoin has been pinned near $75,000 since.

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The leverage math

Holmes’ case is arithmetic. HIVE’s energy and operating costs are fixed, so a higher Bitcoin price is almost entirely margin. He puts the annualized effect of a $10,000 move at “an extra thirty six million dollars of cash flow” per year.

The 12 BTC a day is HIVE’s targeted run rate at 25 EH/s, roughly 2% of the global Bitcoin network. HIVE reported $297.8 million in revenue for fiscal 2026, up 158%. Holmes now describes the company as “a gold royalty company of less than 30 employees doing 360 million in revenue, going to $500 million.”

“We’re doing a million dollars a day in revenue,” he said. “The last time we were doing a million dollars a day was last October,” before the $19 billion liquidation cascade of Oct. 10.

The extra cash goes to one place.

“Fast track the AI business,” Holmes said, along with a 100-megawatt substation expansion in Paraguay.

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“Looks higher but could go lower”

Holmes refused to share a short-term target for Bitcoin.

"It looks higher but could go lower," he said, noting that gold and Bitcoin "fell two standard deviations each during this downdraft."

What he will call is the direction of policy. This summer, the US and Japan confirmed a joint intervention to prop up the yen.

"That only means more inflation," Holmes said.

Add on China’s push against the dollar and emerging markets running modern monetary theory, and he sees a tailwind that a quarter-point hike won’t interrupt.

"Historically, the end of the year is a run," he said. "I think it's easy for it to go through a $100,000 by year end if we get the money printing. People are waking up to gold as a 5,000-year-old instrument against paper money. A modern young person like yourself is saying, 'I'm on Bitcoin.' And that's what we see."