Roth Capital raised the firm’s price target on Hut 8 (HUT) to $60 from $31 and keeps a Buy rating on the shares. The largest near-term catalyst for Hut 8 remains in signing a high performance compute tenant for one of its sites, which would kickstart financing talks and scalability across its portfolio, the analyst tells investors in a research note. The firm is also updating its model on Hut 8 to reflect its American Bitcoin (ABTC) ownership, which assumes ABTC expands to 50 EH/s, Roth added.
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