Hut 8 Corp. (NASDAQ:HUT) soared 17.27% on Friday, closing at $47.66 as investors flocked to high-performance computing (HPC) companies like Hut 8, IREN Ltd., and Cipher Mining Inc. following Oracle Corp.’s $38 billion data center expansion.

Piper Sandler raised Hut 8 Corp.’s (NASDAQ:HUT) price target by 124% to $74, citing optimism over the development of 1.5 GW of power across four U.S. sites and exclusive rights to construct another 1.3 GW, potentially signaling further upside for the stock.

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Read more at Yahoo Finance: Hut 8 (HUT) Soars 17% as Funds Flock to HPC