Bitcoin Miner Hut 8 Corp (HUT) Rebounds as Analysts Boost Targets and American Bitcoin Turns Profitable

Hut 8 Corp. (NASDAQ: HUT; TSX: HUT) is back in the spotlight this weekend after a sharp two‑week selloff, a powerful third‑quarter earnings print, fresh analyst upgrades and a profitable quarter from its majority‑owned American Bitcoin unit — all against the backdrop of a bruising Bitcoin pullback.

Hut 8 stock now: volatile fortnight, but big 2025 outperformance

The latest trading session for Hut 8 wrapped up on Friday, November 14, with the stock closing at $36.94, up 2.55% on the day from $36.02. Intraday, shares swung between $33.40 and $39.90, a nearly 19.5% trading range, on volume of roughly 10.5–11 million shares. ^[1]

Data aggregators including Zacks and StockAnalysis list the same close and note after-hours quotes edging slightly higher, around the high‑$37 area. ^[2]

Despite Friday’s bounce, Hut 8 remains down roughly 27–33% over the past two weeks, according to short‑term technical summaries from StockStelegraph and StockInvest. ^[3]

Yet on a longer horizon, the stock still looks like one of 2025’s standout crypto‑adjacent names. Simply Wall St calculates that Hut 8 is up about 68.8% year‑to‑date and has delivered roughly 46% total shareholder return over the past 12 months, even after the recent pullback. ^[4]

Nasdaq’s quote page shows the stock at $36.94 (+2.55%) with volume around 10.6 million and flags November 16, 2025, as the latest market date, reflecting Friday’s close heading into the weekend. ^[5]

Fresh valuation debate: “34% undervalued” or already pricing in growth?

A new November 16 note from Simply Wall St has helped frame today’s debate around Hut 8’s valuation. The piece points out that: ^[6]

Hut 8’s 1‑day return of 2.55% looks like the start of a rebound,
but 7‑day and 30‑day returns are still negative,
while year‑to‑date gains sit near 69%, with a 46% 1‑year TSR.

Based on analyst models, Simply Wall St estimates a “fair value” of around $56 per share, versus the last close at $36.94 — implying Hut 8 might be roughly 34% undervalued if those projections prove accurate. ^[7]

At the same time, the article flags a potential mismatch between price and earnings:

Price‑to‑earnings (P/E): ~19.6×
Software industry average: ~32.7×
Simply Wall St’s own “fair” P/E for this business: ~10.2×

On that basis, Hut 8 screens cheaper than the broader software group, but expensive relative to its own modeled “fair” P/E, suggesting that some of the company’s growth story may already be baked into the share price. ^[8]

A separate machine‑learning forecast from StocksTelegraph, updated with Friday’s close, expects HUT to rise about 8.6% over the next two weeks to a midpoint target of $40.12, with a projected range between $34.65 and $45.26. It also notes that short‑term RSI readings in the mid‑30s to mid‑40s argue for weak bearish momentum but a broadly neutral technical outlook. ^[9]

Other forecast engines, such as CoinCodex, project Hut 8’s price hovering near current levels over the next few days, with only modest downside or upside in the near term. ^[10]

Taken together, today’s valuation discussion revolves around a simple tension: fundamentals look much stronger than a year ago, but the share price has also run hard and remains volatile.

Q3 2025 results: revenue surges, energy & compute flywheel spins up

Much of the current narrative traces back to Hut 8’s third‑quarter 2025 results, released on November 4. The company describes itself not just as a miner, but as an “energy infrastructure platform” spanning power generation, digital infrastructure and compute workloads such as Bitcoin mining and high‑performance computing (HPC). ^[11]

Key Q3 2025 highlights: ^[12]

Revenue:$83.5 million
Net income:$50.6 million
Adjusted EBITDA:$109.0 million
Energy Capacity Under Management:1,020 MW as of September 30
Total development pipeline:8,650 MW
- 5,865 MW under diligence
- 1,255 MW under exclusivity
- 1,530 MW under active development
Strategic Bitcoin reserve:13,696 BTC with a market value of roughly $1.6 billion at quarter‑end
Total hashrate: about 26.8 EH/s, with ~25 EH/s belonging to majority‑owned American Bitcoin and ~23.7 EH/s already operational

By segment, Hut 8 reported: ^[13]

Power: $8.4 million in revenue from generation and managed services.
Digital Infrastructure: $5.1 million from colocation, plus another $31.2 million of colocation revenue recognized via the King Mountain joint venture line.
Compute: $70.0 million from Bitcoin mining (primarily through American Bitcoin), GPU‑as‑a‑Service via its Highrise AI unit, and data‑center cloud services under its HPC brand.

Management stressed that the company has reached an “inflection point” in the maturity of its development pipeline, moving 1,530 MW of capacity from “exclusivity” into the new “under development” bucket, with the potential to push Energy Capacity Under Management beyond 2.5 GW as projects are commercialized. ^[14]

This aggressive pipeline is central to Hut 8’s “Power‑First” strategy, which Simply Wall St describes as pairing large‑load power sites with dual‑use potential for Bitcoin mining and AI compute, backed by tens of gigawatts of long‑term opportunities in various stages of diligence and exclusivity. ^[15]

American Bitcoin: Trump‑linked subsidiary swings to profit

Hut 8’s story is now tightly interwoven with American Bitcoin Corp. (ABTC), its majority‑owned Bitcoin miner and treasury play that went public on Nasdaq in September via a merger with Gryphon Digital Mining. ^[16]

On November 14, Reuters reported that American Bitcoin’s third‑quarter revenue jumped to $64.2 million, up from $11.6 million a year earlier. The company swung from a $0.6 million loss to a $3.5 million net profit, while its Bitcoin holdings grew to 4,004 BTC, worth roughly $400 million at early‑November prices. ^[17]

The article highlighted that American Bitcoin is backed by President Donald Trump’s sons — Eric Trump and Donald Trump Jr. — and is majority‑owned by Hut 8 Corp. Management said the company mines Bitcoin at less than half the cost of “conventional vehicles.” ^[18]

A separate CoinDesk market wrap noted that Hut 8’s shares bounced around 6% in the wake of American Bitcoin’s earnings, even as most crypto‑related equities continued to slide alongside Bitcoin’s retreat below $95,000 in what’s been the worst week for BTC since March. ^[19]

Meanwhile, a widely read Yahoo Finance piece on today’s crypto price plunge describes American Bitcoin’s model as aiming to accumulate Bitcoin mined using Hut 8’s technology, underlining how deeply Hut 8’s infrastructure is now embedded in the wider crypto‑treasury ecosystem. ^[20]

In short: strong subsidiary earnings + a more visible Trump‑linked brand + Hut 8’s infrastructure and treasury have combined to give HUT an extra narrative tailwind, even as core crypto prices wobble.

Analysts turn Hut 8 into an AI–Bitcoin “power play”

Wall Street’s view of Hut 8 has shifted dramatically in recent months.

In late October, Benchmark more than doubled its price target to $78 from $36, maintaining a Buy rating. The firm framed Hut 8 as a hybrid AI–Bitcoin “power play”, arguing that the company has evolved from a pure miner into an energy infrastructure platform powering AI and HPC data centers, with a 1,530‑MW development pipeline and a 64% stake in American Bitcoin. ^[21]

Benchmark’s sum‑of‑the‑parts valuation also factors in Hut 8’s large Bitcoin treasury — over 10,000 BTC as of June 30 — and treats HUT as a kind of leveraged call option on both AI compute growth and Bitcoin upside. ^[22]

Other brokers have followed with aggressive target hikes:

JMP Securities lifted its Hut 8 target from $25 to $65 on October 21, keeping a “Market Outperform” rating. ^[23]
Rosenblatt Securities doubled its target from $30 to $65 on October 16, citing AI‑driven demand and the soaring value of energy infrastructure in a compute‑hungry world. ^[24]
Roth Capital raised its target to $60 from $31 in mid‑September, highlighting the company’s pivot toward HPC and AI data centers and the scaling of American Bitcoin to roughly 25 EH/s. ^[25]
Earlier moves from BTIG and Canaccord also pushed targets into the mid‑$30s to mid‑$50s range while maintaining Buy‑style ratings. ^[26]

GuruFocus, summarizing recent analyst actions, notes that Hut 8 has become one of the more consistently upgraded names across the Bitcoin miner universe, even though some older consensus data still show a wide target range and, at earlier price levels, implied downside from lofty late‑October prices. ^[27]

The message from recent research: Hut 8 is no longer being valued solely as a miner; it’s being reframed as a scaled power‑and‑compute platform with embedded Bitcoin optionality.

Technical picture: breaking a double top — or just a relief rally?

On the technical side, Hut 8 has been a roller coaster.

An article today from Indonesian crypto brokerage Pintu lists Hut 8 among three Bitcoin mining stocks to watch in mid‑November. It notes that the stock had previously formed a double‑top pattern, usually a bearish signal, around the mid‑$40s. But the Q3 earnings release and subsequent news flow flipped sentiment, sending the stock sharply higher instead of confirming the breakdown. ^[28]

Pintu highlights that: ^[29]

Hut 8 reported a 91% year‑over‑year increase in annual revenue to $83.5 million (consistent with company disclosures).
The quarterly loss narrowed to about $0.07 per share, compared with $0.26 in the prior year period.
After threatening to drop below support near $41.33, the stock instead surged around 14% between a Friday and the following Monday pre‑market, briefly touching about $47.18.
Technicians are now watching whether HUT can clear resistance around $50.06 and potentially extend towards $55.41.

Short‑term forecasting tools offer a more cautious view:

StocksTelegraph sees room for an 8–9% bounce over the next two weeks but still characterizes near‑term momentum as neutral and notes the stock is down over 30% in the past two weeks. ^[30]
StockInvest flags similar numbers — a 2.55% gain on the last trading day, but a roughly 27% decline over the last 10 days, accompanied by falling volume. ^[31]

Bottom line: technicals are volatile and mixed. Bulls point to the possibility of a post‑earnings trend reversal; bears focus on the steep recent drawdown and sector‑wide pressure as Bitcoin’s price weakens.

Macro backdrop: Bitcoin’s worst week since March

All of this is playing out in a difficult macro environment for digital assets.

According to a November 14 analysis from CoinDesk, Bitcoin slid below $95,000 late Friday and was on track for a 9% weekly loss, its worst performance since March, amid an “information vacuum” around U.S. economic data following a lengthy government shutdown and fading expectations for near‑term Federal Reserve rate cuts. ^[32]

Ether and Solana have dropped even more sharply, while crypto‑related equities have been mixed: miners like CleanSpark, MARA Holdings and Hive Digital fell 4–7% on the day, even as Hut 8 and a handful of others managed to rebound. ^[33]

Today’s Yahoo Finance coverage of the “crypto price plunge” ties the sell‑off to a broader bout of risk‑asset risk‑off sentiment and features commentary from high‑profile Bitcoin bulls such as Michael Saylor and Eric Trump. That piece again calls out American Bitcoin’s strategy of accumulating BTC mined using Hut 8 technology, keeping the HUT ticker visible even when the primary story is macro. ^[34]

For Hut 8, the macro takeaway is double‑edged:

Falling Bitcoin prices can compress mining margins and reduce the mark‑to‑market value of its large BTC treasury.
But market participants who believe in a longer‑term BTC cycle may see drawdowns as an opportunity for miners and infrastructure platforms with strong balance sheets and diversified revenue streams.

Key risks investors are watching

Today’s coverage also underscores several risks that current and prospective HUT shareholders are focusing on:

Bitcoin price sensitivity
Despite diversification into AI, HPC and power services, Hut 8 still generates a significant chunk of revenue and cash flow from Bitcoin mining and Bitcoin‑backed financial strategies, including its large strategic reserve. A prolonged BTC downturn would pressure earnings and the balance sheet. ^[35]
Execution on energy & data‑center projects
The company’s bullish valuation cases assume it can monetize more than a gigawatt of energy capacity under management and an 8.65‑GW development pipeline by signing attractive long‑term contracts with AI and HPC tenants, particularly at sites like River Bend in Louisiana. If deals are delayed or pricing disappoints, the thesis could weaken. ^[36]
Regulatory and political uncertainty
Hut 8’s majority stake in American Bitcoin links it to high‑profile political figures, including members of the Trump family, at a time when U.S. crypto regulation is evolving rapidly. Reuters notes concerns among ethics experts about potential conflicts of interest and regulatory risk as the administration pushes a pro‑crypto agenda. ^[37]
Capital intensity and dilution
The Q3 release detailed a new $1 billion at‑the‑market equity program and a $200 million credit revolver, which give Hut 8 significant dry powder but also raise questions about future dilution and leverage as it builds out massive power and data‑center campuses. ^[38]
Valuation dispersion
While some analysts now see upside towards $65–78 per share, older consensus figures and some valuation frameworks still imply downside from current levels. Simply Wall St, for example, argues that the stock may be undervalued relative to analyst targets but expensive on an earnings multiple basis, underscoring that the market’s view remains far from settled. ^[39]

Outlook: what to watch next for HUT in late 2025

As of November 16, 2025, Hut 8 sits at the crossroads of several powerful themes:

Crypto markets in a corrective phase after a failed attempt by Bitcoin to hold above six‑figure territory. ^[40]
Surging demand for AI and HPC compute, which could turn Hut 8’s gigawatt‑scale power pipeline into a valuable long‑term asset if it can secure tenants at attractive economics. ^[41]
A high‑beta equity story where sentiment can swing quickly with each macro headline, price‑target change or development in American Bitcoin’s growth trajectory.

In the near term, investors and traders watching HUT are likely to focus on:

Whether the stock can hold the mid‑$30s after its recent bounce and build a base after a steep two‑week correction. ^[42]
Any new customer wins or lease announcements for Hut 8’s AI/HPC campuses, especially River Bend and other large‑load sites flagged by analysts as key catalysts. ^[43]
The trajectory of Bitcoin and broader crypto sentiment, including whether BTC stabilizes above support after this week’s sell‑off or trends toward the $84,000 downside levels some analysts are watching. ^[44]
Follow‑through from American Bitcoin’s profitable Q3, including treasury strategy, hashrate growth and how tightly the market continues to link ABTC’s fortunes to Hut 8’s stock. ^[45]

For now, Hut 8 remains a high‑volatility, high‑conviction name in the intersection of Bitcoin mining, energy infrastructure and AI compute — and today’s coverage suggests that, despite macro headwinds, many on Wall Street still see room for upside if the company can execute on its ambitious build‑out.

Disclosure: This article is for informational and news purposes only and does not constitute financial advice, investment recommendation, or a solicitation to buy or sell any security. Always do your own research and consider consulting a licensed financial professional before making investment decisions.

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