Market News

Hut 8 Mining Joins Business Renewables Centre Canada

Hut 8 Mining Corp (TSE: HUT), one of the largest innovation-driven digital asset extraction pioneers in North America, announced Tuesday it is now a member of the Business Renewables Centre Canada.  

First to Join

Hut 8 is the first digital asset mining company to join the organization. BRC Canada is a non-profit community that works with industry experts to accelerate the adoption of renewable energy in Canada.  

Joining BRC Canada gives Hut 8 the opportunity to work with a wide range of leading renewable energy companies and developers. Additional benefits of membership include the ability for Hut 8 to support the integration, acceleration, and adoption of renewable and low-emission energy sources across Canada. 

CEO Commentary 

Hut 8 Mining CEO Jaime Leverton said, “We are committed to building a business focused on driving industry awareness around sustainability practices in the digital asset mining and blockchain ecosystem. We are thrilled to be the first digital asset mining company to join the BRC Canada and look forward to the opportunity to be a part of an organization that is focused on driving change and renewable energy adoption in Canada.” 

Wall Street’s Take

Two months ago, H.C. Wainwright analyst Kevin Dede reiterated a Buy rating on Hut 8 with a C$24 price target. This implies 183% upside potential.

Overall, HUT scores a Strong Buy consensus rating among analysts based on three Buys. The average Hut 8 price target of C$24.89 implies 194.2% upside potential to current levels.

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