Hut 8 now has a more diversified business model following its merger last year with US Bitcoin Corporation, the report said.
Benchmark initiated coverage of the bitcoin mining stock with a buy rating and a $12 price target.
Its bitcoin stash of 9,102 coins provides it with a sizable liquidity cushion, the report said.
The new Hut 8 (HUT), resulting from the merger with US Bitcoin Corporation (USBTC) that closed last November, features a diversified business model with multiple revenue streams, broker Benchmark said in a research report on Monday.
Benchmark initiated coverage of the bitcoin (BTC) miner with a buy rating and a $12 price target. Hut 8 was trading 5.2% higher at $8.47 at publication time.
These revenue streams include self-mining, managed services, hosting, and high-performance (HPC) computing and artificial intelligence (AI).
“Hut trades at a discount to its bitcoin mining peers that we expect to shrink as the company executes on its self-mining expansion plans,” analyst Mark Palmer wrote.
As of March 31, Hut 8 ranked second among listed miners in terms of bitcoin holdings with 9,102 held in reserve, the report said.
This bitcoin horde provides the company with a “sizable liquidity cushion as well the ability to capture upside during bitcoin price rallies,” the report added. Its crypto holdings are valued at around $592 million, which is equal to about 82% of its market capitalization.
Since the merger closed, “management has focused on actions aimed at reducing the company’s cost of mining bitcoin and its realized cost of energy and increasing its cash flow,” Palmer wrote.
Read more: Bitcoin Miner Hut 8 Has Larger, More Diversified Business Model Following USBTC Merger: Canaccord
cost clomid for sale can i order generic clomid for sale generic clomid where buy cheap clomiphene pill buy cheap clomiphene clomid usa cost generic clomiphene without rx
This website absolutely has all of the information and facts I needed about this participant and didn’t know who to ask.
This is the kind of advise I find helpful.
buy zithromax generic – buy tindamax 300mg without prescription order metronidazole 200mg without prescription
motilium over the counter – brand tetracycline 500mg order generic cyclobenzaprine 15mg
augmentin 375mg over the counter – https://atbioinfo.com/ buy generic acillin
cheap nexium – anexamate.com order nexium without prescription
meloxicam 15mg cheap – relieve pain order meloxicam 7.5mg without prescription
cheap erectile dysfunction pills online – fast ed to take sexual dysfunction
amoxil drug – buy generic amoxicillin buy amoxil paypal
forcan pills – this buy fluconazole paypal
purchase cenforce without prescription – order cenforce 50mg online cheap cheap cenforce 100mg
cialis 5mg 10mg no prescription – https://ciltadgn.com/# is there a generic cialis available
cialis generic – click no prescription female cialis
ranitidine 150mg us – https://aranitidine.com/ buy ranitidine 300mg without prescription
where can i buy viagra online yahoo answers – https://strongvpls.com/# 50 mg sildenafil citrate
This website exceedingly has all of the tidings and facts I needed to this thesis and didn’t identify who to ask. comprar cenforce 100
I am in fact thrilled to glitter at this blog posts which consists of tons of profitable facts, thanks object of providing such data. https://buyfastonl.com/
With thanks. Loads of knowledge! https://ursxdol.com/get-metformin-pills/
This is the description of topic I have reading. online