Hut 8's AI data center agreement draws attention.

Benchmark Analysts Upgrades Hut 8's Forecast

Hut 8's $7 billion and 15-year leasing agreement with Fluidstack highlights the company's transition to corporate-level digital infrastructure. Analyst Mark Palmer notes that this agreement is just the beginning.

Palmer stated that with the payment guarantees provided by Google and the expansion/renewal options, this potential contract value could rise to approximately $17.7 billion.

Palmer raised the price target for Hut 8 from $78 to $85 and reiterated the buy recommendation for the stocks. This situation is seen as a positive signal for investors.