Hut 8 Secures $80 Price Target, Highlights 1,020 MW Capacity and 8,650 MW Pipeline
H.C. Wainwright initiated coverage of Hut 8 with a Buy rating and $80 price target, citing potential hyperscaler collaborations for AI infrastructure and a tangible pipeline of sites beyond River Bend. Hut 8 reported $83.5 million revenue, $50.6 million net income, $109 million Adjusted EBITDA, manages 1,020 MW capacity and holds 13,696 BTC valued at $1.6 billion.
1. Analyst Coverage and Ratings
Kevin Dede at H.C. Wainwright started coverage of Hut 8 with a Buy rating and an $80 price target, highlighting potential collaborations with hyperscalers for AI infrastructure and a pipeline of sites beyond River Bend. Roth Capital maintained its Buy rating on January 27 and raised its target to $80, citing the 330 MW River Bend lease and management’s scalability vision past 1 GW with full Google backup.
2. Q4 Financial Performance
In the most recent quarter, Hut 8 generated $83.5 million in revenue, recorded $50.6 million in net income and posted $109.0 million in Adjusted EBITDA, demonstrating strong profitability.
3. Capacity and Development Pipeline
The company manages 1,020 MW of energy capacity and is advancing an 8,650 MW pipeline through diligence, exclusivity and development stages, positioning it for significant scale expansion.
4. Bitcoin Holdings and Strategic Partnerships
Hut 8 holds 13,696 Bitcoin valued at roughly $1.6 billion and is positioned to support AI developers through infrastructure collaborations, potentially underpinning a $7 billion, 15-year Fluidstack and Anthropic partnership.