TLDR Hut 8 (HUT) jumped 11.55% on Monday, closing at $52.94 Arete Research initiated coverage with a Buy rating and a street-high $136 price target — a 157% upsideTLDR Hut 8 (HUT) jumped 11.55% on Monday, closing at $52.94 Arete Research initiated coverage with a Buy rating and a street-high $136 price target — a 157% upside

Hut 8 (HUT) Stock Jumps 12% as One Analyst Sees It Nearly Tripling

2026/03/24 22:14
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TLDR

  • Hut 8 (HUT) jumped 11.55% on Monday, closing at $52.94
  • Arete Research initiated coverage with a Buy rating and a street-high $136 price target — a 157% upside from Monday’s close
  • The bullish case centers on the River Bend AI data center and a 15-year Google lease worth up to $17.7 billion
  • Benchmark reiterated its Buy rating with an $85 price target, citing HUT’s execution focus for 2026
  • Analysts flagged Bitcoin exposure as a risk, with Cantor Fitzgerald cutting its PT to $68 due to lower Bitcoin and power prices

Hut 8 had a strong Monday. The stock jumped 11.55% to close at $52.94, driven by a new analyst note that set one of the most bullish price targets on Wall Street for the name.


HUT Stock Card
Hut 8 Corp., HUT

Arete Research kicked off coverage with a Buy rating and a $136 price target. That implies more than 157% upside from Monday’s close — and it’s currently the highest target on the street.

The Arete note leaned heavily on Hut 8’s River Bend AI data center as the core value driver. In December 2025, Hut 8 signed a 15-year lease with Google that could generate up to $17.7 billion in revenues if Google exercises all its renewal options.

The base deal covers 245 MW of IT capacity for Fluidstack at $7.7 billion, and gives Fluidstack the right of first offer on 1,000 MW of future expansion capacity.

The first data hall at River Bend is expected to come online in Q2 2027, with more halls scheduled throughout the rest of that year.

Benchmark Holds Its Ground

Benchmark also weighed in Tuesday, reiterating its Buy rating with an $85 price target. Analyst Mark Palmer maintained his view after a fireside chat with Hut 8 CFO Sean Glennan last week.

Glennan said the company’s 2026 priority is execution — specifically getting River Bend developed and energized. He also pointed to converting pipeline capacity into contracted revenue and securing more power as key near-term goals.

The CFO said Hut 8 wants to stand out in a crowded AI data center space, where many developers are seen as interchangeable. Disciplined delivery on River Bend is how the company plans to do that.

Benchmark’s $85 target sits in the middle of the current range. The street-low sits at $55 and Arete’s new $136 forms the high end.

Bitcoin Still in the Mix

Not everyone is fully on board. Arete flagged Hut 8’s Bitcoin exposure as a risk worth watching. The company owns 61% of American Bitcoin Corp. and remains committed to mining operations.

Cantor Fitzgerald lowered its price target to $68 from $72, keeping an overweight rating, but citing falling Bitcoin prices and weaker power generation revenue as headwinds.

Needham took a more constructive view, raising its target to $66 from $60 after Hut 8’s Q4 2025 results beat estimates on both revenue and adjusted EBITDA, excluding Bitcoin.

Clear Street also bumped its target to $70, maintaining a Buy and pointing to upcoming execution milestones in 2026 as the near-term catalyst to watch.

HUT has gained roughly 279% over the past year. As of Tuesday, the stock was trading around $52.36.

The post Hut 8 (HUT) Stock Jumps 12% as One Analyst Sees It Nearly Tripling appeared first on CoinCentral.

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