Cryptoprowl.com / Wall Street investment bank H.C. Wainwright has begun coverage of Bitcoin miner and data centre operator Hut 8 (NASDAQ: $HUT) with a buy rating.
H.C. Wainwright crypto analyst Kevin Dede has assigned a price target of $80 U.S. to Hut 8 stock, which is 50% higher than where the shares currently trade.
Dede said in a note to clients that Hut 8 should benefit from future infrastructure collaborations with mega-cap technology companies as it pivots from being a pureplay Bitcoin miner.
In December 2025, Hut 8 announced a 15-year partnership worth $7 billion U.S. with privately held artificial intelligence startup Anthropic and Google parent company Alphabet (NASDAQ: $GOOGL).
That deal comes as Hut 8 focuses on developing A.I. data centres in addition to mining BTC.
H.C. Wainwright, a boutique investment bank, isn’t the only firm that’s bullish on HUT stock.
Roth Capital recently reiterated its buy rating on Hut 8 and raised its price target on the stock to $80 U.S.
Analysts at Roth Capital noted that Hut 8, in addition to its own Bitcoin mining operations, also offers hosting, managed infrastructure operations, and digital asset services to outside clients.
Hut 8 last reported owning 13,696 Bitcoin worth $906 million U.S. at current valuations. The company is scheduled to report its fourth-quarter 2025 financial results on Feb. 25.
HUT stock has risen 172% in the last 12 months to trade at $53.62 U.S. per share.
