EL7.AI
Crypto•14 July 2026•
1 min read

Hut 8 Price Target Raised to $165 on $16.8B AI Data Center Contract Wins

Key Facts

1Benchmark raised Hut 8's price target to $165, citing a long pathway for growth.
2The bullish outlook is based on $16.8 billion in AI data center contracts and the commercialization of Beacon Point.

Amid a strategic pivot by crypto miners toward cloud computing, Benchmark has raised its price target for Hut 8 to $165, citing a significant long-term growth pathway. This bullish outlook is primarily driven by the company securing AI data center contracts valued at $16.8 billion. Analysts also highlighted the commercialization of the Beacon Point project as a critical milestone in transitioning the firm's business model.

This upgrade follows a broader industry trend where peers like Core Scientific and IREN are aggressively expanding into AI hosting; Core Scientific recently expanded a multi-billion dollar deal with CoreWeave valued at approximately $6.7 billion according to recent earnings reports. Benchmark’s valuation reflects confidence in Hut 8’s ability to repurpose its power assets into high-value data centers, a shift that is increasingly re-rating the sector per market data.

Looking ahead, investors are focused on Hut 8's execution of its massive contract pipeline and its impact on operational cash flow.