Benchmark Raises Hut 8 Target Price to $195 on Beacon Point AI Data Center Commercialization

Benchmark Equity Research raised its Hut 8 target price to $195 on Wednesday from $165, citing full commercialization of the company's Beacon Point AI data center campus in Texas. The new price target, compared to Hut 8's stock price of approximately $111 on Wednesday, implies about 75% upside. This marks Benchmark's second target price increase this month; analyst Mark Palmer had previously raised the target from $85 to $165 after including Beacon Point's phase one in his valuation.

Hut 8 currently has 949 megawatts of committed AI data center capacity, reflecting its shift from traditional Bitcoin mining toward AI infrastructure and power-driven data center operations. The stock rose about 2% on Wednesday and is up nearly 120% year-to-date.