American Bitcoin Spin-Off, AI Ambitions To Boost Hut 8 Stock: Analyst

Canaccord Genuity analyst Joseph Vafi maintained a Buy rating on Hut 8 Corp. (NASDAQ:HUT) and reiterated the $32 price forecast.

The analyst writes that he sees consistent progress at Hut 8 under the leadership of CEO Asher Genoot and his team, who have been in place for approximately five quarters.

While the past year has primarily involved operational streamlining and realignment within Hut 8, Vafi believes the future holds more significant potential.

Also Read: Hut 8 Analysts Still Bullish Despite Q1 Miss; Bets On American Bitcoin, HPC/AI Potential

Specifically, the analyst expects Hut 8 to navigate the complex challenge of maximizing the value of its Bitcoin (CRYPTO: BTC/USD) miner power portfolio and existing …

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