Hut 8 Mining Corp (TSE: HUT), one of the largest innovation-driven digital asset extraction pioneers in North America, announced Tuesday the closing of its definitive agreement to buy the cloud data center and colocation business from TeraGo Inc.
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The acquisition consists of five data centers across Canada with a comprehensive information technology offering that includes a selection of scalable cloud services.
TeraGo’s data centers acquisition gives Hut 8 a unique positioning within the digital asset ecosystem and establishes the company as a leading high-performance computing platform.
Wall Street’s Take
Three months ago, H.C. Wainwright analyst Kevin Dede kept a Buy rating on HUT with a C$24 price target. This implies 219.2% upside potential.
Overall, Hut 8 Mining stock scores a Moderate Buy consensus rating based on two Buys.
The average Hut 8 Mining price target of C$24.72 implies upside potential of about 228.7% from current levels.
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