With significant hedge fund interest, Hut 8 Corp. (NASDAQ:HUT) secures a spot on our list of the 12 most promising blockchain and crypto mining stocks according to hedge funds.
On October 20, 2025, Piper Sandler boosted its price target on Hut 8 Corp. (NASDAQ:HUT) from $33 to $74, maintaining an “Overweight” rating.
The investment firm’s revised target reflects the company’s 1.5 gigawatts of power projects under development across four U.S. states, as well as its exclusive rights to another 1.3 gigawatts. The firm values Hut 8 Corp. (NASDAQ:HUT)’s pipeline at a discounted $5 million per megawatt of IT load. This is lower than peers such as Galaxy Digital, leaving room for upside.
Furthermore, Piper Sandler cited Hut 8 Corp. (NASDAQ:HUT)’s $1 billion in Bitcoin holdings and 64% stake in American Bitcoin (ABTC). The price revision follows the company’s surge to a 52-week high on October 15, 2025.
Hut 8 Corp. (NASDAQ:HUT), a vertically integrated operator of energy infrastructure and Bitcoin mining facilities in North America, operates across Power, Digital Infrastructure, Compute, and Other segments.
While we acknowledge the potential of HUT as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
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