Benchmark has increased its price target for Hut 8 Mining Corp. to $78 from $36, maintaining a Buy rating. Analyst Mark Palmer highlighted Hut 8's strategic shift from a Bitcoin mining focus to becoming a scalable infrastructure provider, emphasizing its potential in AI and high-performance computing (HPC). The company is developing 1,530 MW of capacity, primarily for AI and HPC data centers. Following the report, Hut 8's stock rose 2.75% to $51.17.