BlockBeats News, February 27 — Benchmark reiterates a “Buy” rating for Hut 8 with a target price of $85, noting that as the company advances its AI data center strategy, management is positioning 2026 as the “execution and delivery” year.
Benchmark analyst Mark Palmer stated in the report that although Q4 results were affected by unrealized Bitcoin losses, the more important development is Hut 8’s steady transformation into a “power-first digital infrastructure platform,” which provides a clearer long-term contract cash flow outlook.
Hut 8 reported a net loss of $301.8 million in Q4, mainly due to $401.9 million in unrealized digital asset losses. As computing power revenue grows, revenue nearly tripled year-over-year to $88.5 million.
Palmer continued to view the 15-year, 245 MW IT leasing agreement with River Bend and Fluidstack as the core of the investment thesis. The agreement, supported by Google Finance, along with a roughly $7 billion foundational term agreement, is driving Hut 8’s valuation closer to infrastructure multiples.
Benchmark’s $85 target price is based on a sum-of-the-parts analysis, including River Bend leasing, probabilistic valuation of an additional 1,000 MW under the priority offer rights, the market value of Hut 8’s 60% stake in American Bitcoin, and its Bitcoin holdings.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Global M2 exploding – Bitcoin ready to absorb!
One of the most important macro trends right now is the steady expansion of global liquidity. Recent data shows that worldwide M2 money supply has surpassed $100 trillion, with central banks continuing to inject capital into their economies. Year-over-year growth remains strong, signaling ongoing mo
Coinfomania40m ago
Does Jianjie have "manipulation" of BTC? Breaking down the AP system to understand the pricing power game behind ETF subscription and redemption mechanisms
Written by: Eddie Xin, Chief Analyst at OSL Group
"They were fcking us the whole time."
This phrase, circulated on Reddit and Crypto Twitter (CT) after the lawsuit, accompanied by an epic short squeeze with a liquidation scale of over $240 billion, directed market anger at the same target: Jane Street Capital.
At 10 AM, the liquidity freeze that had persisted in Asian markets for the past few months was finally partially lifted with the release of the U.S. Department of Justice's complaint. It all began with the founding of Wall Street's top market maker, Jane Street Capital, established in 2000, which is accused of engaging in targeted market manipulation through...
PANews56m ago
Trump Media Reports 2000 BTC Pledged, Bitcoin Holdings Fall in 10K Annual Filing
_Trump Media reports 2,000 BTC pledged as collateral in 10-K, reducing reported Bitcoin holdings from 11,542 to 9,542 BTC._
Trump Media & Technology Group has reported a reduction in its Bitcoin holdings in its latest annual filing.
The company disclosed in its Form 10-K that its Bitcoin
LiveBTCNews1h ago
