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Benchmark sees Hut 8 becoming a power-first data center REIT

Benchmark’s updated view implies about 75% upside from its new price target, and Hut 8 shares have already risen nearly 120% year to date.

Reported · Written up by our desk · Market Structure

Benchmark has updated its outlook on Hut 8, arguing the company is positioned to become a power-first data center REIT, according to The Block.

The firm raised its price target again, which The Block characterizes as implying roughly 75% upside from current levels.

Hut 8 shares are described as having climbed nearly 120% year to date, setting the backdrop for Benchmark’s revised target.

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