Hut 8 Corp. (Nasdaq: HUT), the Bitcoin (BTC) mining and artificial intelligence (AI) firm, announced a partnership with AI giants Anthropic and Fluidstack on Dec. 17 last year.
As part of the partnership, Hut 8 will develop and deliver at least 245 MW and up to 2,295 MW of AI data center infrastructure for Anthropic, leveraging high-performance clusters operated by Fluidstack.
The goal is to accelerate the deployment of hyperscale AI infrastructure in the United States, Hut 8 said.
Hut 8 CEO Asher Genoot said, "Through our partnership with Anthropic and Fluidstack, we are aligning power, data center design, and compute deployment into an integrated platform capable of delivering at gigawatt scale."
Anthropic's head of compute, James Bradbury, said, "This partnership is an expansion of our existing work with Fluidstack and marks a new opportunity to collaborate with Hut 8 to bring additional capacity online by early 2027."
However, the announcement didn't enthuse a major investment bank despite the AI boom.
More News:
Cantor Fitzgerald lowers stock price target
Cantor Fitzgerald has lowered its price target on the HUT stock from $72 to $68, Investing.com reported on March 2.
The investment bank said it trimmed the price target due to the decline in Bitcoin prices affecting mining revenue from American Bitcoin (Nasdaq: ABTC), Hut 8's subsidiary, and lower power generation revenue from the sale of those assets.
Cantor Fitzgerald maintained an overweight rating as it lowered the price target on Hut 8.
Hut 8 recently reported its Q4 2025 financial results, generating $88.5 million in revenue and a net loss of $301.8 million.
The HUT stock has surged over 250% over the last year. However, it has fallen 1% in a day to trade at $52.64 at the time of writing.
Related: What is Bitcoin mining? Explained
This story was originally published by TheStreet on Mar 2, 2026, where it first appeared in the MARKETS section. Add TheStreet as a Preferred Source by clicking here.
