Hut 8 price target hiked to $165 at Benchmark as AI pivot reshapes valuation

Analysts at Benchmark have raised Hut 8's price target to $165 following the company's strategic pivot to AI infrastructure through its Beacon Point project. This move is seen as a significant transformation, positioning Hut 8 for long-term growth in an increasingly AI-driven market. The shift highlights the potential of integrating AI capabilities into the company's existing operations, which could lead to new revenue streams and enhanced valuation. This strategic change underscores the growing importance of AI in tech investments.