H.C. Wainwright analyst Kevin Dede assumed coverage of Hut 8 with a Buy rating and $80 price target. The company has emerged as a "top weight class infrastructure contender within the larger alliances drawn among hyperscalers catering to artificial intelligence developers and users," the analyst tells investors in a research note. The firm says Hut has a "tangible pipeline" of future sites beyond River Bend that anchors the 15-year, $7B Fluidstack and Anthropic deal signed last month.
