Piper Sandler Raises Price Target for Hut 8 Corp. to $74

Hut 8 Corp. (NASDAQ: HUT) has garnered renewed attention from investors, particularly hedge funds, following a significant price target increase by Piper Sandler. On October 20, 2025, the investment firm raised its target for Hut 8 from $33 to $74, maintaining an “Overweight” rating. This optimistic outlook is influenced by Hut 8’s extensive power projects and substantial Bitcoin holdings.

Piper Sandler’s revised price target is rooted in Hut 8’s development of 1.5 gigawatts of power across four U.S. states, along with exclusive rights to an additional 1.3 gigawatts. The firm values Hut 8’s pipeline at a discounted $5 million per megawatt of IT load, which is lower than many of its peers, including Galaxy Digital. This valuation suggests potential for future growth as the company expands its operations.

In addition to its power projects, Hut 8 holds approximately $1 billion in Bitcoin and maintains a 64% stake in American Bitcoin (ABTC). The price adjustment from Piper Sandler follows a recent surge in Hut 8’s shares, which reached a 52-week high on October 15, 2025.

Hut 8 operates as a vertically integrated company in North America, focusing on various segments including Power, Digital Infrastructure, Compute, and Other segments. This diversification positions Hut 8 well within the rapidly evolving blockchain and cryptocurrency landscape.

While Piper Sandler remains optimistic about Hut 8’s growth potential, it also acknowledges the allure of certain artificial intelligence stocks that may offer higher returns with lower risk. The firm has indicated that some AI stocks could present opportunities that surpass Hut 8’s potential, hinting at a broader market exploration for investors.

As the landscape for blockchain and digital currencies continues to evolve, Hut 8 Corp. remains a central player in the sector. The recent endorsement from Piper Sandler not only reflects confidence in Hut 8’s operational strategy but also highlights the growing interest from institutional investors in the cryptocurrency mining space.

For those following market trends, Hut 8’s developments serve as a noteworthy example of how traditional investment firms are increasingly engaging with innovative technologies such as blockchain.