HUT was traditionally a bitcoin miner, but like many other miners, it has pivoted some of its strategy toward high performance computing (HPC). It defines itself as an energy infrastructure platform, where it operates three main segments: 1) Power: acquiring and managing energy assets like powered land, 2) Digital infrastructure: purpose-built facilities for energy-intensive applications, and 3) Compute: specialized hardware for bitcoin mining and data center cloud GPU-as-a-service. It is a heavily-shorted stock, which has led to some of its high volatile moves, but it is also benefiting from the rise in crypto prices and increasing interest in AI compute. Analyst estimates are rising, and although it is not yet profitable and is cash flow negative, we could see its price continue to rise if its HPC segment grows and digital asset prices increase.
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