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Benchmark raises Hut 8 target to $165 on AI data center wins

Benchmark cited about $16.8 billion in AI data center contracts and said Hut 8s Beacon Point commercialization supports longer term growth.

Reported · Written up by our desk · Market Structure

Benchmark lifted its price target for Hut 8, raising the outlook to $165 while characterizing the companys growth path as long.

The Block said the update was driven by Hut 8s reported momentum in AI data centers, including $16.8 billion in AI data center contracts.

Benchmark also pointed to progress tied to Beacon Point commercialization as part of its rationale for the revised target.

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