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Hut 8 Posts Q4 Revenue Beat, Analyst Raises Price Target On River Bend Tracking For Early Delivery

Benzinga·02/26/2026 15:53:36
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Hut 8 Corp (NASDAQ:HUT) announced strong fourth-quarter results and reiterated its intension to reduce Bitcoin exposure.

The Hut 8 Analyst: Needham analyst John Todaro reaffirmed a Buy rating, while raising the price target from $60 to $66.

The Hut 8 Thesis: The company reported its revenues at $89 million, significantly beating estimates of $64 million, Todaro said in the note.

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River Bend, Hut 8's flagship AI data center campus, is "tracking to plan with built-in buffer and potential early delivery," with the first data hall expected to come online at the beginning of the second quarter, he added.

The Anthropic/Fluidstack relationship "could expand beyond Phase 1, with discussions up to 2,295 MW of total capacity," the analyst wrote.

The company indicated that it intends to reduce its bitcoin exposure over time, although it plans to retain some exposure through its equity stake in American Bitcoin Corp (NASDAQ:ABTC), he further stated.

HUT Price Action: Shares of Hut 8 had risen by 1.72% to $55.30 in premarket trading on Thursday.

Image: Shutterstock