Benchmark raises Hut 8 price target to $165 on AI infrastructure pivot

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Benchmark analyst Mark Palmer has raised his price target for Bitcoin miner Hut 8 to $165, citing the company's strategic shift toward artificial intelligence infrastructure. The upgrade is driven by Hut 8's Beacon Point project, which Palmer says repositions the firm as an AI infrastructure platform. This pivot is seen as significantly reshaping how the company is valued by investors. Palmer believes the transition gives Hut 8 a long runway for future growth in the AI sector.

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