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Benchmark raises Hut 8's price target to $85, bullish on Google-backed AI data center deal

2025.12.22 - 14:16

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TechFlow news, December 22 — According to CoinDesk, Mark Palmer, an analyst at Wall Street firm Benchmark, raised the price target for bitcoin miner Hut 8 (HUT) from $77 to $85 and reiterated a "buy" rating, implying a 93% upside from last Friday's closing price of $44.12.

Palmer stated that Hut 8's $7 billion, 15-year data center lease agreement with Fluidstack—a company backed by Google—marks the firm's strategic shift from cryptocurrency mining toward becoming an institutional-grade digital infrastructure platform.

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