According to Odaily, brokerage firm HC Wainwright has revealed that Bitcoin mining company Hut 8 is actively negotiating with potential clients for large-scale high-performance computing (HPC) and artificial intelligence (AI) projects. The firm has upgraded Hut 8's rating by two levels, shifting from a 'sell' to a 'buy' recommendation. Additionally, HC Wainwright has significantly raised the target price for Hut 8 from $7.5 to $13.5. Reports suggest that Hut 8 could benefit from the increasing demand for energy and infrastructure from AI companies. The likelihood of Hut 8 securing HPC or AI clients has also risen following a $150 million investment by Coatue in June.