Hut 8 Wins $140M Data Center Auction, Eyes AI Infrastructure Push

Hut 8 has secured a major victory in its bid to acquire two Texas data centers from Poolin, a cryptocurrency mining company that filed for bankruptcy protection in July. The winning proposal totals $140 million, significantly exceeding Thor CALAP's initial stalking-horse bids of $52 million.

The deal includes both the Pyote and Tarbush facilities, which had been part of Poolin's operations before its bankruptcy filing. Hut 8's bid represents nearly triple the value of the initial baseline offers, outdoing competing bidders DigiPower X and Pecos Industrial Development.

The transaction must still receive approval from a New Jersey bankruptcy court, with proceedings scheduled for September 29. However, this acquisition aligns with Hut 8's broader strategic transformation, as the company shifts its focus from exclusive bitcoin mining operations toward comprehensive AI infrastructure services.