Hut 8 Secures $140M Data Center Deal in Texas Auction

Hut 8 has emerged as the winning bidder for two Texas data center facilities previously operated by bankrupt crypto mining company Poolin, offering $140 million in cash and other consideration for the assets. The Pyote and Tarbush sites were put up for sale through a court-supervised auction process after Poolin's Chapter 11 bankruptcy filing in July.

The winning bid represents a significant increase from the opening bids set by Thor CALAP LLC, which offered $15 million for Pyote and $37 million for Tarbush. Other bidders, including DigiPower X and Pecos Industrial Development acting on behalf of Fluidstack, also submitted lower bids.

If approved, Hut 8 will integrate the Texas sites into its growing infrastructure portfolio, boosting its AI-capable data center capacity by over 1 gigawatt. Court approval is pending at a hearing scheduled for September 29, which will determine whether the $140 million transaction can proceed to closing.