Bonanza Peak is a 6,983-foot (2,128 meter) mountain summit located in the Wrangell Mountains, in the U.S. state of Alaska. The peak was notable for its abundance of copper deposits which were mined from 1909 through 1938. The peak is situated in Wrangell-St. Elias National Park and Preserve, immediately northeast of Kennecott, northeast of McCarthy, north of Porphyry Mountain, and southeast of Donoho Peak. The confluence of the Kennicott and Root Glaciers lies below the mountain's west slope. Precipitation runoff from the mountain drains into tributaries of the Nizina River, which in turn is part of the Copper River drainage basin. The mountain's local name was reported in 1914 by the U.S. Geological Survey. On a clear day the summit of Bonanza Peak offers views of Sourdough Peak, Mount Blackburn, and Fireweed Mountain.