Why Hut 8 Corp. (HUT) Is One of the Best Bitcoin Stocks to Buy Now

Hut 8 Corp. (NASDAQ:HUT) is one of the best bitcoin stocks to buy now. Cantor Fitzgerald raised the price target on Hut 8 Corp. (NASDAQ:HUT) to $80 from $68 on April 9, reaffirming an Overweight rating on the shares and stating that it believes the world is heading toward the proliferation of AI across nearly every sector, business, and economy. In this context, it sees AI infrastructure as “an attractive place to invest”, and this holds especially true given that investors are somewhat agnostic to which AI app or AI model emerges victorious. Cantor also stated that it envisions a persistent supply/demand imbalance for the next five-plus years that caters to pricing remaining strong.

In another development, Arete initiated coverage of Hut 8 Corp. (NASDAQ:HUT) with a Buy rating on March 23, setting a price target of $136. It told investors in a research note that the company’s 15-year River Bend lease comes with a full backstop of rent payments from Google, 99% margin on a triple-net lease, with full pass-through, yielding an average of $454M in annual operating income.

Hut 8 Corp. (NASDAQ:HUT) is a bitcoin miner and a vertically integrated operator of large-scale energy infrastructure. It acquires, builds, designs, and operates data centers to power compute-intensive workloads, such as bitcoin mining. Its operations are divided into four business segments: Digital Assets Mining, Managed Services, High Performance Computing-Colocation and Cloud, and Other.

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