Crypto
Hut 8's Poolin Texas Bitcoin Assets Return to Auction at $180 Million
Hut 8's bid for Poolin's Texas Bitcoin mining assets is back on after negotiations over the sale failed, sending the deal back to auction.
The total consideration for the sale could reach $180 million if competing bidders submit higher offers.
A New Jersey bankruptcy court approved renewed bidding in a Sept. 30 order, setting a deadline of noon ET on Oct. 1 for interested parties to submit their bids.
Hut 8's affiliated company will remain the stalking-horse bidder, with its original agreement providing for $100 million in cash at closing and up to $80 million in milestone payments tied to future data-center transactions.