[Benchmark Doubles Hut 8 Price Target to $78, Optimistic About Its Dual Positioning in AI and Bitcoin] Odaily Planet Daily News – Wall Street brokerage Benchmark has significantly raised the price target for Bitcoin mining company Hut 8 (HUT) from $36 to $78, while maintaining a 'Buy' rating. Analyst Mark Palmer pointed out that Hut 8 has transitioned from a pure Bitcoin mining company to an energy infrastructure company, strategically positioning itself in the artificial intelligence (AI) and high-performance computing (HPC) markets. Under the leadership of CEO Asher Genoot, who will take office in February 2024, Hut 8 is focusing on controlling low-cost power infrastructure and currently has 1,530 megawatts of capacity under development, primarily targeting AI and HPC data centers. The company also holds 10,264 Bitcoins (as of June 30) and a 64% stake in the U.S. Bitcoin Corporation (ABTC). Benchmark describes Hut 8 as a 'flexible bullish option' for AI growth and Bitcoin appreciation, noting that investors have responded positively to Genoot's strategy, with the stock rising over 300% in the past six months. Nevertheless, the analyst believes Hut 8's intrinsic value still exceeds its market capitalization. (CoinDesk)