Hut 8 Receives 'Buy' Rating and $12 Price Target from Benchmark After Merger and Halving

Analysts highlight Hut 8's diversified business model and robust bitcoin holdings as key strengths post-merger with US Bitcoin Corp.

Hut 8's diversified revenue streams and significant bitcoin holdings are seen as major advantages, offering a strong liquidity cushion.
Benchmark issued a 'buy' rating and set a $12 price target for Hut 8, noting its potential for growth in the bitcoin mining sector.
Following the recent Bitcoin halving, Hut 8's strategy includes expanding self-mining operations and reducing operational costs.
The merger with US Bitcoin Corp has enhanced Hut 8's business model, adding managed services, hosting, and high-performance computing capabilities.
Hut 8's stock has shown resilience, trading up 5% midday Monday despite a general downturn year-to-date.