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Home/News Feed/Hut 8 signs $9.8B lease to expand AI data center capacity, Needham raises price target to $145
HUT
$86.47
-$0.66 -0.76%

Hut 8 signs $9.8B lease to expand AI data center capacity, Needham raises price target to $145

Market News
20 Jul 2026
Tony Dante
View Source
Bullish
pluang ai news

Hut 8 has secured a $9.8 billion, 15-year lease to fully commercialize its 1-gigawatt Beacon Point AI data center campus in Texas, expanding its contracted IT capacity to 949 MW. This marks a strategic shift from cryptocurrency mining to AI infrastructure, positioning Hut 8 as a key player in AI data center operations. Analyst firm Needham responded positively by reaffirming a "Buy" rating and raising the price target from $128 to $145, reflecting confidence in the company’s growth potential. The expanded portfolio is expected to generate over $1.75 billion in annual net operating income, signaling strong future profitability.

More News (HUT)

Hut 8 Corp. rated Buy with $140-150 target on AI infrastructure contracts and Nvidia lease.

Hut 8 Corp. rated Buy with $140-150 target on AI infrastructure contracts and Nvidia lease.

Hut 8 Corp. is rated Buy with a 12-month price target of $140-150, reflecting its undervaluation compared to its extensive AI infrastructure contract pipeline. The company holds $26.6 billion in long-term AI data center contracts and a $9.8 billion l...

Analyst Insights
Bullish
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