Hut 8 Corp (NASDAQ:HUT) announced strong fourth-quarter results and reiterated its intension to reduce Bitcoin exposure.
The Hut 8 Analyst: Needham analyst John Todaro reaffirmed a Buy rating, while raising the price target from $60 to $66.
The Hut 8 Thesis: The company reported its revenues at $89 million, significantly beating estimates of $64 million, Todaro said in the note.
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River Bend, Hut 8’s flagship AI data center campus, is “tracking to plan with built-in buffer and potential early delivery,” with the first data hall expected to …