Hut 8 (HUT) Changed From Bitcoin Mining to Data Center Business, Here’s How Much More Upside The Stock Could Have Hut 8 Corp. (NASDAQ:HUT) is one of the 10 Bitcoin Miners That Are Now Data Center Companies.
On June 11, Chris Brendler of Rosenblatt Securities maintained a Buy rating on Hut 8 Corp. (NASDAQ:HUT) with a price target of $124
The analyst’s price target reflects approximately 4% upside from current levels. Hut 8 Corp. (NASDAQ:HUT) has strategically shifted its focus from bitcoin mining toward HPC and AI infrastructure. The company leverages its integrated platform of power, digital infrastructure, and compute resources to support the growing demand for high-energy technologies.
On the occasion of the appointment of the new Chair of the Board of Directors, Asher Genoot, CEO of Hut 8, said the company aims to build and grow its energy and technology infrastructure business for many years to come. Stanley O’Neal, Chair of the Board of Hut 8, highlighted the company’s ambition by saying, “The reorganization of capital around energy, digital infrastructure, and compute is among the largest I have seen in my career. At this scale of capital deployment, advantage accrues to operators whose position is structural.