HUT 8 Has Already Surged 170% in Past 6 Months, What’s Making Investors Bullish?

• The company last month inked a deal to build an artificial-intelligence (AI) data center in Louisiana for Anthropic and signed a $7 billion lease with Fluidstack, backed by Google.
• The company expects the deal to generate a cumulative net operating income (NOI) of $6.9 billion over the base term, averaging to about $454 million NOI annually.
• Roth Capital has a ‘Buy’ rating and $60 price target on Hut 8.

Shares of HUT 8 Corp, rallied more than 13% during after hours of trading on Monday as investors continue to remain bullish on the stock after its recent deals with Google and Anthropic and progress towards Artificial Intelligence and High-Performance Computing AI/HPC infrastructure. 

Hut 8 last month inked a deal in which it will be building an artificial-intelligence (AI) data center in Louisiana for Anthropic and signed a $7 billion lease with Fluidstack, backed by Google. 

The deal marked the start of HUT’s AI data center partnership with Anthropic, in which HUT will develop and deliver the power needed to run the facilities, while Fluidstack will operate the high-performance clusters. The company expects the deal to generate a cumulative net operating income (NOI) of $6.9 billion over the base term, averaging to about $454 million NOI annually.

Street Action

Roth Capital had said that HUT 8’s deal with Fluidstack with a full backstop from Google has  its improved economics and positioned Hut 8 to secure more favorable project financing term. Combined with construction partners and Fluidstack's optionality on behalf of Anthropic, this enables Hut 8 to scale its power portfolio to more than 2GW, the firm added. It kept a ‘Buy’ rating and $60 price target on Hut 8.

Benchmark analyst Mark Palmer said that announcement of a comprehensive AI/HPC infrastructure transaction at the River Bend campus "represented a defining moment in the company's strategic evolution from a crypto-native power owner to a scaled, institutional-grade digital infrastructure platform. He raised the firm's price target on Hut 8 to $85 from $78 and kept a ‘Buy’ rating on the shares.

How Did Stocktwits Users React?

Retail sentiment around HUT trended in ‘neutral’ territory amid ‘low’ message volume. 

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