Bitcoin mining company Hut 8 is negotiating with potential clients for large HPC and AI projects

ChainCatcher news, according to CoinDesk, brokerage firm HC Wainwright revealed that Bitcoin mining company Hut 8 is actively negotiating with potential clients for large HPC and AI projects.

Additionally, the firm upgraded the rating of Bitcoin mining company Hut 8 by two levels, from sell to buy, while also significantly raising its target price from $7.5 to $13.5.

There are reports that Hut 8 may benefit from the growing demand for energy and infrastructure from AI companies, and the likelihood of signing high-performance computing (HPC) or AI clients has also increased after Coatue invested $150 million in June.