Bitcoin

<h2 id="key-points">Key Points</h2>
<ul>
 <li>Bitcoin mining firm Hut 8 has been given a ‘buy’ rating and a $12 price target by Benchmark.</li>
 <li>Hut 8’s diversified business model and substantial bitcoin holdings were key factors in Benchmark’s evaluation.</li>
</ul>
<p>Benchmark has begun coverage of <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/" rel="noopener noreferrer nofollow">bitcoin</a> miner Hut 8, assigning the firm a “buy” rating and a price target of $12.</p>
<p>In its assessment, Benchmark considered Hut 8’s “diversified business model” after the company merged with U.S. Bitcoin Corporation. This merger has resulted in several new revenue streams from self-mining, managed services, hosting, high-performance computing, and artificial intelligence.</p>
<h2 id="hut-8-s-bitcoin-holdings">Hut 8’s Bitcoin Holdings</h2>
<p>The investment banking firm also highlighted the market value of Hut 8’s bitcoin holdings. As of March 31, Hut 8 ranked second among listed miners in terms of bitcoin holdings, with 9,102 bitcoins in reserve. The company’s bitcoin holdings offer it a substantial liquidity cushion and the potential to benefit from bitcoin price increases. These holdings are estimated to be worth around $592 million, roughly 82% of its market capitalization.</p>
<h2 id="merging-with-u-s-bitcoin-corporation">Merging with U.S. Bitcoin Corporation</h2>
<p>In November 2023, Hut 8 and U.S. Bitcoin Corporation announced their official merger. The newly formed company, Hut 8 Corporation, is based in the U.S. As of March 31, the company managed about 884 MW of power capacity across 11 sites and had a total hash rate of 25.5 EH/s. It also has a 250 MW hosting business, a managed services operation, and runs a high-performance computing business with five data centers across Canada.</p>
<p>Hut 8 Corporation’s shares are listed on Nasdaq. The closing price on Friday was $8.05, marking a 2.16% increase for the day.</p>

Benchmark Endorses Bitcoin Miner Hut 8 with a ‘Buy’ Rating and Boosts Its Price Target

목차

crypto.ro global

2024년 4월 22일에 게재된 다른 기사

FNCY (FNCY) Price Prediction 2025, 2026, 2027, 2028, 2029 and 2030

AI spam is Choking the web, and It’s a Problem for Google

Key Developments in Cryptocurrency Prices This Week

Thailand Implements Ban On Unauthorized Cryptocurrency Platforms

Bitcoin’s Resilience Demonstrated Through Recent Price Surge and Market Indicators

Pendapatan Penambang Bitcoin Melejit Pasca Halving, Pertanda Apa?

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!