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Bitcoin Miner Hut 8 Could Look to Acquire a Hyperscaler, Clear Street Says

Published

2 дня ago

1 апреля, 2025

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Hut 8’s (HUT) new subsidiary, American Bitcoin Corp., a partnership between the mining company and the Trump family, could be spun out, allowing the company to focus on data center hosting, broker Clear Street said in a report Monday.

The broker noted that the new unit will be included in the bitcoin miner’s financials, but the «businesses could be separated, allowing HUT to focus on high-margin data center hosting revenue.»

Hut 8 is expected to secure more power and expand its data center hosting business, the report said, and the «potential to secure a hyperscaler» is a key catalyst for the company.

Eric Trump and Donald Trump Jr. are merging their firm, American Data Centers, with American Bitcoin, a new mining venture, taking a 20% stake in the company. The remaining 80% will be owned by Hut 8, which is contributing almost 61,000 mining machines to the new entity.

Core Scientific’s (CORZ) deal with cloud computing firm CoreWeave led to a re-rating of the sector last year, as investors warmed to the idea of bitcoin miners pivoting to artificial intelligence and high performance computing (HPC).

Hut 8 is projected to enter a phase of considerable growth, starting in the second half of the year, «driven by the energization of the BITMAIN Colocation agreement,» the report added.

Clear Street has a buy rating on Hut 8 shares with a $23 price target. The shares were over 4% higher at $12.10 in early trading.

Investment bank KBW noted that Eric Trump will serve as the chief strategy officer of American Bitcoin, which could be a large positive given his «commitment to the industry as well as his obvious relationships.»

KBW has an outperform rating on the stock with a $30 price target.

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Ethereum Developers Lock in May 7 for Pectra Upgrade

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38 минут ago

3 апреля, 2025

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Ethereum developers set May 7 as the target date for the long-awaited Pectra upgrade on Thursday, beginning the countdown for the blockchain’s biggest changes since March 2024.

Pectra contains a series of improvements aimed at making Ethereum more user-friendly and efficient. One such improvement is adding «smart contract» capabilities to wallets, which can make them easier to use and recover.

The decision to schedule Pectra was made during a call between Ethereum’s core developers — just over a week after the upgrade went live on the Hoodi testnet without any hiccups. Pectra’s test on Hoodi was the third and final dry-run of the upgrade. Two earlier tests had bugs, which led the developers to delay the upgrade on Ethereum’s mainnet.

Pectra consists of 11 major code changes, or «Ethereum improvement proposals» (EIPs), that will be shipped all at once. Together, the features aim to improve the staking experience, introduce wallet features, and update the overall network.

One of the main Pectra changes that will benefit Ethereum validators is EIP-7251, which will increase the amount of ETH one can stake from 32 to 2,048. The change is meant to alleviate the experience for those staking across multiple validators, who can now set that up under one node instead of multiple.

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Interoperability Protocol Hyperlane Reveals Airdrop Details

Published

58 минут ago

3 апреля, 2025

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The team behind interoperability protocol Hyperlane shared Thursday their upcoming token airdrop plans happening at the end of the month.

The airdrop will occur on April 22, and users can check their eligibility to receive $HYPER tokens via a portal provided by the Hyperlane Foundation by April 13, the team shared in a press release with CoinDesk.

The token distribution will mostly go to the community, with 57% of the supply going to users, while the remaining circulating tokens will be distributed to the core team (25%), investors (10.9%), and the foundation’s treasury (7.1%).

The team also shared that the airdrop will be fully unlocked for community recipients, while the core team and investors’ tokens will be locked for the first 12 months.

In addition to the token distribution to early users, Hyperlane is coming out with their “expansion rewards” program, which is based on developer and cross-chain end-user activity, and will be distributed to users each quarter proportional to their activity on the network.

“The retroactive token allocation at TGE is just the first of many over the coming several years, as protocol ownership begins moving into the hands of the developers and end-users who rely on Hyperlane to send assets and other critical messages across chains,” said Nam Chu Hoai, a co-founder of Hyperlane.