Hut 8 now has a more diversified business model following its merger last year with US Bitcoin Corporation, the report said.Its bitcoin stash of 9,102 coins provides it with a sizable liquidity cushion, the report said.miner with a buy rating and a $12 price target. Hut 8 was trading 5.2% higher at $8.47 at publication time.
“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.
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