Hut 8 has been named the winning bidder for two Poolin data-center sites in Texas with a $140 million offer.
\nThe bid is nearly three times the combined $52 million stalking-horse offer that opened the auction process.
\nThe transaction is not final: bankruptcy-court approval is still required at a hearing scheduled for September 29.<\/p>\n
Hut 8 has emerged as the winning bidder for two Texas data-center sites owned by bankrupt mining company Poolin, putting $140 million on the table for infrastructure that could extend well beyond Bitcoin mining.<\/p>\n
The bid covers Poolin\u2019s Pyote and Tarbush locations.<\/p>\n
The bankruptcy process began with combined stalking-horse bids of $52 million.<\/p>\n
Thor CALAP had offered $15 million for the Pyote campus and $37 million for Tarbush.<\/p>\n
Competition pushed the final number dramatically higher.<\/p>\n
Other bidders included DigiPower X and Pecos Industrial Development, acting as a designee of AI infrastructure company Fluidstack.<\/p>\n
Hut 8 ultimately came out on top with an offer worth $140 million in cash and other consideration.<\/p>\n
Poolin entered Chapter 11 in July with roughly $173 million of obligations, much of it tied to IOUs owed to users of Poolin Wallet<\/a> after withdrawals were frozen in 2022.<\/p>\n There is one procedural point that matters here.<\/p>\n Hut 8 has won the auction.<\/p>\n It has not yet completed the acquisition.<\/p>\n The proposed sale still requires approval from the U.S. Bankruptcy Court for the District of New Jersey, with a hearing scheduled for September 29.<\/p>\n Until that happens, the transaction should be treated as a winning bid rather than a closed purchase.<\/p>\n For Hut 8, the attraction is easy to understand.<\/p>\nWinning The Auction Does Not Mean The Sale Is Closed<\/h2>\n