Benchmark raises target price for Hut8 to $195 to complete full commercialization of BeaconPointAI Campus

BenchmarkEquity Research on Wednesday raised its target price for the Hut8 to $195 from $165, TheBlock reported. This is the second time the agency has raised its Hut8 target price this month, mainly because its BeaconPointAI data center park in Texas has been fully commercialized.<br /> Hut8 previously announced that it has signed a second 15-year lease agreement with existing tenants with a total value of US$9.8 billion, increasing the contracted capacity of the BeaconPoint campus to 704MW and increasing the total contract value of the 1GW campus to US$19.6 billion. Benchmark said the latest target price still has about 75% upside to Hut8 's stock price at the time of about $111.<br /> In addition, Benchmark's valuation of Hut8 also takes into account its holdings of 10,278 bitcoins, worth nearly $680 million at current prices, and its 60% stake in American Bitcoin.