HC Wainwright has raised its price target for bitcoin miner Hut 8 to $13.5, and its rating has been upgraded to buy
2024-08-14 14:56:13
Brokerage firm HC Wainwright upgraded the rating of bitcoin miner Hut 8 by two notches, from sell to buy, and also raised its price target sharply from $7.50 to $13.50. It is reported that Hut 8 may profit from the growing demand for energy and infrastructure from artificial intelligence (AI) companies, and the possibility of signing up high-performance computing (HPC) or AI customers has also increased after Coatue invested $150 million in June. HC Wainwright also disclosed that Hut 8 is currently actively negotiating with potential customers for large-scale HPC and AI projects.
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