Hut 8 Wins Auction for Poolin’s Texas Data Centers with $140M Bid
- Hut 8 has been named the winning bidder for two Poolin data-center sites in Texas, offering $140 million.
- The bid is nearly three times the combined $52 million stalking-horse offer that opened the auction process.
- The transaction still requires approval from the U.S. Bankruptcy Court for the District of New Jersey, with a hearing scheduled for September 29.
- Poolin entered Chapter 11 in July with approximately $173 million of obligations, largely tied to IOUs owed to users of Poolin Wallet after withdrawals were frozen in 2022.
Hut 8 emerged as the top bidder in an auction that saw significant competition, highlighting the growing value of data-center infrastructure beyond its capacity for Bitcoin mining. The final bid was nearly three times higher than initial offers, indicating strong interest in these facilities’ broader compute potential and power access.
Despite winning the auction, Hut 8‘s acquisition is not yet finalized and awaits court approval on September 29. This reflects a strategic move by Hut 8 to expand beyond Bitcoin mining into larger-scale data-center operations. (Source)
