Hut 8 Snags Poolin's West Texas Assets with $140M Bid
Hut 8 has emerged as the winning bidder for Poolin's West Texas mining assets in an auction that drew significant interest from buyers seeking to capitalize on power access in the AI data center race.
The Canadian company offered $140 million, surpassing a backup bid of $137 million from Fluidstack and DigiPower X. The offer includes cash and other consideration, subject to signed asset purchase agreements and court approval.
Poolin's bankruptcy auction highlighted the growing appeal of power infrastructure left behind by struggling bitcoin miners as AI demand surges. Hut 8 has expanded into large AI infrastructure projects, reporting 949 megawatts of contracted IT capacity and approximately $26.6 billion in expected base-term contract value.