Hut 8 Media reports, according to The Block, Benchmark Equity Research raised its target price for Hut 8 from $165 to $195 on Wednesday. This marks the second time this month the firm has raised its target price for Hut 8, primarily due to the full commercialization of its Beacon Point AI data center campus in Texas. Hut 8 previously announced it had signed a second 15-year lease agreement with existing tenants, worth $9.8 billion, increasing the committed capacity at the Beacon Point campus to 704 MW and raising the total contract value of the 1 GW campus to $19.6 billion. Benchmark noted that the new target price represents approximately 75% upside from Hut 8’s stock price of around $111 at the time. Additionally, Benchmark’s valuation of Hut 8 includes its holdings of 10,278 bitcoins, valued at nearly $680 million at current prices, as well as its 60% stake in American Bitcoin Corp.
Benchmark Raises Hut 8 Target Price to $195 Amid Commercialization of the Beacon Point AI Campus
MarsBitShare
Summary
Benchmark raised its price target for Hut 8 to $195, citing advancements in AI and crypto developments from the Beacon Point campus. The Texas data center is now fully operational, with a new $9.8 billion lease increasing total capacity to 704 MW. Hut 8 holds 10,278 BTC and a 60% stake in American Bitcoin. The new target implies a 75% upside from the current price of $111.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.