Hut 8 Mining Corp. (HUT) PT Raised to $55 at KBW As Management Delivers

Keefe, Bruyette & Woods analyst Stephen Glagola raised the price target on Hut 8 Mining Corp. (NASDAQ: HUT) to $55.00 (from $30.00) while maintaining an Outperform rating.

The analyst commented: "Management delivered strongly on its initial HPC colocation deal, with notably superior economics versus peer Fluidstack leases. Broadly, we view the improving colocation economics as a positive read-through for miners with ready-for-service capacity over 2026-2027. HUT is well positioned to capture incremental Google TPU deployments, with 1.0GW net expansion optionality at River Bend (Fluidstack ROFO) and 1.05GW across its broader pipeline with Anthropic. Our Fluidstack lease valuation of $4.49B–$7.12B (or $41.55–$65.88 per share at 5%-7% cap rates) exceeds current market cap, reflecting negative AI/BTC sentiment rather than execution or lease quality concerns, in our view. We raise our price target to $55, reflecting a 6% cap rate on the Fluidstack lease, 25% haircut to ABTC stake, and net debt. Reiterate Outperform."

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