Benchmark Doubles Hut 8 Price Target to $78 on Hybrid AI-Bitcoin Strategy

Investment firm Benchmark has significantly raised its price target for Hut 8 Mining Corp. (HUT), doubling it to $78 per share. The analyst firm views Hut 8 as a unique hybrid power play, strategically positioned to capitalize on the converging sectors of Artificial Intelligence (AI) and Bitcoin mining. This bullish outlook is driven by Hut 8's potential to leverage its extensive energy infrastructure and computing capabilities to serve both high-performance computing for AI and its core Bitcoin operations, creating a diversified and resilient business model in the digital infrastructure space.