Benchmark raised its price target for Bitcoin mining company Hut 8 to $85 and maintained its "buy" rating.

Odaily Planet Daily reports that Wall Street brokerage firm Benchmark has reiterated its "buy" rating on Bitcoin mining company Hut 8 stock and raised its price target from $77 to $85, implying a 93% upside from Friday's closing price of $44.12. Analyst Mark Palmer believes that Hut 8's $7 billion, 15-year River Bend data center lease agreement with Google-backed FluidStack marks the company's strategic shift from cryptocurrency mining to an institutional-grade digital infrastructure platform. (CoinDesk)