Roth Capital last night initiated coverage of Hut 8 (HUT) with a Buy rating and $25 price target Hut 8 is transforming into a power-first digital infrastructure platform, with 1.0GW energized, 2.6GW under exclusivity, and long-term growth visibility from bitcoin hosting and high performance computing colocation, the analyst tells investors in a research note. The firm says three HPC sites position the company to benefit from artificial intelligence demand, offering 60%-plus adjusted EBITDA margins. The combination of highly visible colocation agreements in bitcoin and HPC provides Hut 8 a strategic advantage, leading to margin expansion and re-rating potential with strategic execution, contends Roth.
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