Hut 8 won the bid for two data centers in Texas from Poolin for 140 million USD

According to court documents, the Bitcoin mining company Hut 8 has made a bid of $140 million to become the winning bidder for the two data center sites of the bankrupt mining company Poolin located in Texas. The bid includes cash and other considerations, covering Poolin's Pyote and Tarbush sites. The transaction must be approved by the bankruptcy court in New Jersey before it can be completed, with a sale hearing scheduled for September 29.

Hut 8's bid is nearly three times the initial bid of $52 million from Thor CALAP, which offered $15 million for the Pyote site and $37 million for the Tarbush site. Additionally, DigiPower X bid $36.5 million for Pyote, while Pecos Industrial Development, designated by the AI infrastructure company Fluidstack, bid $100.5 million for Tarbush. Poolin and its two U.S. affiliates filed for Chapter 11 bankruptcy protection in July after shutting down mining and hosting operations at the Texas sites. Court documents indicate that its debts amount to approximately $173.1 million, of which about $163.7 million are unsecured promissory notes owed to Poolin Wallet users after withdrawals were frozen in 2022.

This acquisition will further expand Hut 8's data center footprint. The former Bitcoin mining company is deeply investing in AI infrastructure, with its second-quarter financial report released in August showing a development pipeline of approximately 8.7 gigawatts, an increase of about 300 megawatts quarter-over-quarter.