Benchmark says Hut 8’s self-mining strategy ensures competitiveness after halving.

Hut 8, a Bitcoin miner based in the United States, is set to enhance its self-mining operations and expand its range of revenue streams, making it more competitive after the Bitcoin halving, according to Benchmark, an investment banking firm. In a research note by Benchmark senior analyst Mark Palmer, it was revealed that the new merged entity, known as “new HUT,” has a diversified business model with multiple sources of revenue. Benchmark has initiated coverage of Hut 8 stock and set a price target of $12, representing a nearly 30% increase from its current share price of $9.22.