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    Home»Altcoins»Benchmark Increases Hut 8 Price Target as Bitcoin Miner Seeks to Expand Energy Capacity
    Altcoins

    Benchmark Increases Hut 8 Price Target as Bitcoin Miner Seeks to Expand Energy Capacity

    Ethan CarterBy Ethan CarterAugust 27, 2025No Comments2 Mins Read
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    Benchmark Increases Hut 8 Price Target as Bitcoin Miner Seeks to Expand Energy Capacity
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    bitcoin mining decrypt style 02 gID 7

    Summary

    • Benchmark investment bank states Hut 8’s expansion plans will boost stock value, making it a worthwhile investment.
    • On Tuesday, Hut 8 announced intentions to add 1.53 gigawatts of capacity at four sites in the U.S.
    • Earlier this year, Hut 8 agreed to provide its Bitcoin mining equipment for the launch of a new operation, American Bitcoin.

    Benchmark has reaffirmed Hut 8’s “buy” rating and increased its price target to $36 from $33 at the back of the firm’s expansion initiatives. 

    Mark Palmer, Senior Equity Research Analyst at Benchmark, noted that Hut 8’s growth plans position it as a leading owner of power that can be utilized for numerous applications, including AI computation, Bitcoin mining, and others.

    On Tuesday, Hut 8 announced its strategy to develop 1.53 gigawatts across four U.S. locations. These new installations are intended to generate energy for various computing needs beyond Bitcoin mining.

    “By separating energy facilities from mining, Hut 8 can enhance its financial adaptability and position itself favorably for significant growth opportunities while retaining a 64% ownership in American Bitcoin,” read the note.

    Palmer emphasized that Hut 8’s disclosure represents a clear route towards monetizing its growing power infrastructure in coming years.

    In March, Hut 8 entered an agreement with American Data Centers Inc., backed by President Trump’s sons, to utilize its Bitcoin mining technology in the launch of American Bitcoin.

    American Bitcoin plans to go public soon, aiming to become “the largest and most efficient Bitcoin miner in the world,” according to the Trump family.

    Hut 8 shares (NASDAQ: HUT) climbed over 1% by Wednesday morning Eastern Time.

    Previously located in Toronto, Hut 8 merged with U.S. Bitcoin Corp. in 2023, and is now headquartered in Miami, Florida.

    As competition intensifies in the Bitcoin mining sector, companies are increasingly venturing into AI and high-performance computing. Mining Bitcoin is energy-intensive and essential for creating new coins for the crypto ecosystem.

    When Bitcoin mining becomes challenging, miners can redirect resources towards operating AI data centers, but experts informed Decrypt that this transition isn’t always straightforward.

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    benchmark Bitcoin Capacity Energy Expand Hut increases Miner Price seeks Target
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    Ethan Carter

      Ethan is a seasoned cryptocurrency writer with extensive experience contributing to leading U.S.-based blockchain and fintech publications. His work blends in-depth market analysis with accessible explanations, making complex crypto topics understandable for a broad audience. Over the years, he has covered Bitcoin, Ethereum, DeFi, NFTs, and emerging blockchain trends, always with a focus on accuracy and insight. Ethan's articles have appeared on major crypto portals, where his expertise in market trends and investment strategies has earned him a loyal readership.

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