Hut 8 Mining Corp. (HUT) PT Raised to $66 at Needham

Needham analyst John Todaro raised the price target on Hut 8 Mining Corp. (NASDAQ: HUT) to $66.00 (from $60.00) while maintaining a Buy rating.

The analyst commented: "HUT reported an encouraging Q4’25 beat vs. our revenue and adj. EBITDA (ex-BTC) estimates. More notable is the execution setup into ’27. River Bend is tracking to plan with built-in buffer and potential early delivery, while the Anthropic/Fluidstack relationship could expand beyond Phase 1, with discussions up to 2,295 MW of total capacity.

Financing for the Fluidstack deal improved to 90% LTC at SOFR+240, and mgmt. framed it as a replicable model for future sites. The company intends to reduce its bitcoin exposure over time by selling down the stack, but will retain some exposure through its ABTC equity stake.

We increase our PT to $66 and reiterate our Buy rating."

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