Hut 8 Corp. (NASDAQ: HUT) is a top pick among hedge funds for blockchain and crypto mining stocks, according to Insider Monkey. Piper Sandler raised its price target on HUT from $33 to $74 on October 20, 2025, citing the company’s expanding power projects in the U.S. and its Bitcoin holdings of $1 billion.

Piper Sandler values Hut 8 Corp. (NASDAQ: HUT) at a discounted $5 million per megawatt of IT load, with room for upside compared to peers like Galaxy Digital. The company also holds a 64% stake in American Bitcoin (ABTC) and recently reached a 52-week high on October 15, 2025.

Hut 8 Corp. (NASDAQ: HUT) is a vertically integrated operator of energy infrastructure and Bitcoin mining facilities in North America, with operations across Power, Digital Infrastructure, Compute, and Other segments. Despite its potential, some believe other AI stocks offer greater upside potential and less downside risk.

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Read more at Yahoo Finance: Piper Sandler Remains Bullish on Hut 8 Corp. (HUT) as Expanding Power Strengthens Growth Outlook