Buy the Dip in Bitcoin Miner Hut 8 (HUT), Says Benchmark's Mark Palmer

Benchmark analyst Mark Palmer asserts that the recent drop in Hut 8's stock, which fell nearly 13% after the company failed to announce an AI hyperscaler tenant, is unjustified. Despite a strong earnings report showing record revenue, the market reaction was deemed short-sighted. Palmer believes that a deal is inevitable, maintaining a buy rating and a $78 price target based on the company's valuable energy and bitcoin assets. Hut 8 CEO Asher Genoot highlighted their methodical approach to securing tenants and the pipeline of energy projects slated for 2026. The broader crypto market was affected by a general decline, but Palmer emphasizes Hut 8's strategic positioning for long-term value as they adapt to market demands across bitcoin mining and AI applications. This holistic view underlines Hut 8's strength in the evolving landscape of cryptocurrency and AI infrastructure.

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