The new Hut 8 resulting from the merger now features a diversified business model with multiple revenue streams including self-mining, managed services, hosting, and high-performance computing and artificial intelligence.
Hut 8's significant bitcoin stash of 9,102 coins not only acts as a liquidity cushion but also positions the company to benefit from bitcoin price surges.
Benchmark initiated coverage of Hut 8 with a buy rating and a $12 price target, indicating a positive outlook on the company's future performance.
Management post-merger has focused on reducing mining costs and increasing cash flow, aiming to strengthen the company's operational efficiency.
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