H.C. Wainwright is Bullish on Hut 8 Corp. (HUT)

Hut 8 Corp. (NASDAQ:HUT) is among the 11 Best Bitcoin and Blockchain Stocks to Invest in.

Hut 8 Corp. (NASDAQ:HUT) is among the Best Bitcoin Stocks.  

On February 2, H.C. Wainwright analyst Kevin Dede commenced coverage of Hut 8 Corp. (NASDAQ:HUT) while assigning it a Buy rating and a price target of $80. The analyst identified the company as a top possibility for infrastructure collaborations with hyperscalers that assist AI developers and users, and he mentioned a tangible pipeline of prospective sites beyond River Bend. These developments could underpin Fluidstack and Anthropic's $7 billion, 15-year partnership announced last month.

Following the River Bend lease announcement, Roth Capital maintained its Buy rating on Hut 8 Corp. (NASDAQ:HUT) and boosted its price target to $80 on January 27, 2026. The firm pointed out stronger economic and scalability potential from the initial 330 megawatts under contract, as well as management's suggestion of scalability beyond 1 gigawatt with a full Google backup.

The company achieved $83.5 million in revenue, $50.6 million in net income, and $109.0 million in Adjusted EBITDA in the most recent quarter. It managed 1,020 MW of energy capacity and pushed an 8,650 MW pipeline through diligence, exclusivity, and development stages. The firm possesses 13,696 Bitcoin worth $1.6 billion.

The stock has gained by 3.80% YTD, as of February 11, 2026.

Hut 8 Corp. (NASDAQ:HUT) is a Bitcoin mining company that specializes in mining. It offers hosting, managed infrastructure operation, and digital asset mining services.

While we acknowledge the potential of HUT as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None.