Hut 8 Wins $140M Bid for Poolin's Texas Data Centers

Hut 8 has emerged as the winning bidder for two data-center sites in Texas owned by Poolin, a bankrupt mining company. The Canadian cryptocurrency miner offered $140 million for the properties, which is nearly three times the combined stalking-horse bid of $52 million that opened the auction process.

The auction was competitive, with other bidders including DigiPower X and Pecos Industrial Development, acting as a designee of AI infrastructure company Fluidstack. However, Hut 8 ultimately came out on top with its offer worth $140 million in cash and other consideration.

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. If approved, the transaction would be a significant move for Hut 8, which has been expanding its operations beyond Bitcoin mining and into large-scale data-center and AI infrastructure.