Clear Street raised the firm’s price target on Hut 8 (HUT) to $33 from $23 and keeps a Buy rating on the shares. The firm is positive on the company’s expansion of its development pipeline and increased high-performance compute optionality, the analyst tells investors in a research note. Clear Street adds that this week, Hut 8 advanced four new U.S. sites totaling 1.53 GW into development more than doubling its platform potential to 2.5 GW across 19 sites, calling it a transformative step that enhances its scale and accelerates the pivot toward diversified energy and digital infrastructure with AI/HPC upside.
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