Cabaña 8 (CABIN) He is ready to turn most of his bitcoin Mining Operations in American Bitcoin (ABTC) In the next week, a movement that the reference analyst Mark Palmer said that he could re -qualify the company’s actions.
Yesterday, Hut 8 presented plans to develop 1.53 Gigawatts (GW) of new capacity in four American sites, in Louisiana, Texas and Illinois, rather than duplicating their power under administration to 2.55 GW.
Palmer raised the target price of HUT 8 to $ 36 of $ 33 and reiterated its purchase rating in the share. The new target price suggests almost 40% rising yesterday just below $ 26.
Palmer pointed out that the update was significant because it showed a clear path to monetize the Hut 8 energy pipe, with the company already ensuring earth and energy agreements, building infrastructure and negotiating with potential customers.
By separating its mining operations in ABTC, Hut 8 aims to position itself as a pure energy infrastructure game, giving better access to financing cheaper projects by avoiding volatility linked to Bitcoin’s income, said the analyst.
The company has up to $ 2.4 billion in liquidity to support the expansion, including $ 1.2 billion in Bitcoin, $ 330 million in credit facilities and a capital program of $ 1 billion, the report said.
Hut 8 is a flexible bet in Bitcoin and artificial intelligence (AI)/High performance computing (HPC) Boom, said Palmer.
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