Hut 8 Price Target Raised on Shift to AI Infrastructure

Hut 8, which began as a cryptocurrency miner, has in recent years been actively repurposing its power and site assets for AI data-center infrastructure. The transition is pivotal because crypto companies that successfully expand into AI infrastructure development can redefine their market valuations and unlock new, stable revenue streams in the fast-growing AI market. The strategy has therefore drawn close attention on Wall Street.

Wall Street brokerage Benchmark announced in July 2026 that it had sharply raised its price target for Hut 8 to $165 from $85. The increase was primarily driven by the successful commercialization of the company’s Beacon Point AI data-center project. Analysts estimate that Hut 8 has secured as much as $16.8 billion in contracted lease value across two AI campuses.