%{{tag.tag}} {{articledata.title}} {{moment(articledata.cdate)}} @{{articledata.company.replace(" ","")}} comment Cryptoprowl / Investment bank Piper Sandler (NYSE: $PIPR ) has raised its price target on Hut 8's (NASDAQ: $HUT ) stock as the crypto miner successfully pivots to artificial intelligence (A.I.) data centres. Piper Sandler lifted its price target on HUT stock to $93 U.S. from $74 U.S. previously, while maintaining a Buy-equivalent overweight rating on the shares. The new price target from Piper Sandler is 15% higher than where Hut 8's stock currently trades. The Wall Street firm said that Hut 8 is the best-performing Bitcoin (CRYPTO: $BTC ) miner in its coverage this year and that the stock has further upside potential. Anthropic recently announced an agreement with Alphabet (NASDAQ: $GOOGL ) to energize approximately 3.5 gigawatts of computing power starting in 2027. Piper Sandler said it believes Anthropic will partner with Hut 8 on a portion of that deployment. Hut 8 and Anthropic have an existing agreement to jointly evaluate 1.05 gigawatts of critical information technology data centre sites. The firm pointed to Hut 8's existing campus near Corpus Christi, Texas that has one gigawatt of capacity and energization timelines that align with Anthropic's delivery schedule. HUT stock has risen 588% over the past 12 months to trade at $81.07 U.S. per share.