Hut 8 Wins Texas Data Center Sites with $140M Bid

Hut 8 has emerged as the winning bidder for two data-center sites in Texas owned by Poolin, a bankrupt mining company. The bid was worth $140 million and covers the Pyote and Tarbush locations.

The auction process began with combined stalking-horse bids of $52 million from Thor CALAP, but competition pushed the final number dramatically higher.

Hut 8's winning bid is nearly three times the initial offer and reflects a shift in the market where mining sites are valued for their grid access and broader compute potential, not just their ability to hash Bitcoin.