u/victorious_sun

Wall Street is waking up to Hut 8 🐂

The re-rating is underway. 📈

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Analyst sees a disconnect between HUT's strong operating momentum, including $16.8bn in new contracts, and its recent ~30% share price decline.

Credit: AIStockSavvy

My neighbor is expecting his first kid, and it was his bday this past weekend so I sent him $1000 and told him buy Hut 8 because it will be worth more by the time the baby arrives.

Unlike their River Bend and Beacon Point campuses, which are backed by long-term contracts with third parties, Anthropic and an undisclosed hyperscaler, Batavia is being built for Hut 8’s wholly owned neocloud platform, Highrise AI. This campus is expected to house their 20,000 new GPUs.

We are just at the start of a re-rating.

👉 Cantor just increased their price target to $155.

🤯 Yesterday, Lucid Capital set theirs to $226.

Credit: AIStockSavvy on X

River Bend in Louisiana is the first data center campus (245 MW) that they are building for Anthropic.

Anthropic has a Right of First Offer for up to an additional 1 GW of IT capacity at River Bend. On top of that, Hut 8 and Anthropic are developing up to another 1,050 MW of optional capacity across Hut 8’s broader development pipeline beyond River Bend.

$NVDA CEO Jensen Huang has said AI data centers could cost $80B-$100B per gigawatt in the future At this valuation, a single megawatt would sell for $60-$100M

$HUT CEO Asher Genoot: "We've signed $17B on deals in the last 6 months...and we have a pipeline of an additional 8GW. The first two deals that we signed roughly equate to 700MW, so we have another 8,000MW in our development pipeline."

I am fully ported ($6.5M) into Hut 8, who is Anthropic's data center development partner. They have access to energy (nearly 9 GW pipeline) and are building the infrastructure behind the AI revolution. Anthropic announced their first site with Hut 8 in Decemeber, and I expect many more to come.