Chet 8 (HUT) is ready to turn most of his bitcoin Mining operations in American Bitcoin (ABTC) During next week, a decision which, according to the reference analyst, Mark Palmer, could rewrite the actions of the company.
Yesterday, Hut 8 unveiled plans to develop 1.53 gigawatts (GW) New capacities on four American sites, in Louisiana, Texas and Illinois, has more than doubled its power under management at 2.55 GW.
Palmer noted the price of Hut 8 to $ 36, compared to $ 33 and reiterated its purchase rating on the action. The new price goal suggests almost 40% up from yesterday’s fence just below $ 26.
Palmer noted that the update was important because it showed a clear route to monetize the Hut 8 energy pipeline, the company already obtaining land and electricity agreements, the construction of infrastructure and negotiation with potential customers.
By separating its mining operations into ABTC, HUT 8 aims to position itself as a pure-play energy infrastructure, which gives it better access to the financing of cheaper projects by avoiding volatility linked to Bitcoin income, the analyst said.
Company has of up to $ 2.4 billion in liquidity to support expansion, including $ 1.2 billion in Bitcoin, $ 330 million in credit facilities and a 1 billion dollar funds, said the report.
Hut 8 is a flexible bet on bitcoin and artificial intelligence (AI)/ High performance information (HPC) Boom, said Palmer.
Find out more: Bitcoin Miner Hut 8 jumps 15%, the main main sector after giving an energy supply contract at 5 years
