Hut 8 has won the bid for two Texas data-center sites owned by bankrupt mining company Poolin, offering $140 million. That’s nearly three times the combined $52 million stalking-horse bid that started the auction. The deal isn’t final yet—it still needs approval from a bankruptcy court at a hearing set for September 29.
Hut 8 came out on top for Poolin’s Pyote and Tarbush locations, putting $140 million on the table for infrastructure that could go well beyond Bitcoin mining.
The auction started with stalking-horse bids totaling $52 million. Thor CALAP had offered $15 million for the Pyote campus and $37 million for Tarbush. Competition drove the final price up sharply. Other bidders included DigiPower X and Pecos Industrial Development, acting on behalf of AI infrastructure company Fluidstack. Hut 8 ultimately won with an offer of $140 million in cash and other consideration.
Poolin filed for Chapter 11 in July with about $173 million in obligations, much of it tied to IOUs owed to users of Poolin Wallet after withdrawals were frozen in 2022.
Winning the auction doesn’t mean the sale is complete. Hut 8 has won the auction but hasn’t closed the acquisition. The proposed sale still needs approval from the U.S. Bankruptcy Court for the District of New Jersey, with a hearing scheduled for September 29. Until then, it should be treated as a winning bid, not a completed purchase.
For Hut 8, the appeal is clear. The company has been moving beyond its roots as a pure Bitcoin miner and deeper into large-scale data-center and AI infrastructure. Power access has become one of the most valuable assets in that market. Poolin’s Texas sites could therefore be worth far more than just how many Bitcoin miners can fit inside them.
The auction price makes that clear. A process that began around $52 million ended with a $140 million winning bid. That’s a strong signal that buyers increasingly value mining sites for their grid access and broader compute potential, not just their ability to hash Bitcoin.
This article was written by the News Desk and edited by Samuel Rae.
Frequently Asked Questions
FAQs Hut 8 Wins 140 Million Bid for Poolins Texas Data Centers
Beginner Questions
1 What just happened here
Hut 8 a Bitcoin mining company won a bankruptcy auction to buy two data centers in Texas that belonged to Poolin a struggling mining company The price was about 140 million
2 What is Hut 8
Hut 8 is a publicly traded Bitcoin mining and digital infrastructure company It operates large facilities full of computers that mine Bitcoin and also provides hosting and computing services
3 What is Poolin
Poolin was a major Bitcoin mining pool a service that combines the computing power of many miners so they can earn Bitcoin more steadily The company ran into serious financial trouble and went through bankruptcy proceedings
4 Why did Poolin sell its data centers
Poolin faced financial difficulties including lawsuits and liquidity problems and entered bankruptcy Selling assets like its Texas data centers was part of the process to pay off creditors
5 Whats a bankruptcy auction
When a company goes bankrupt a court oversees the sale of its assets Buyers submit bids and the highest or best offer wins This is meant to get the most money possible for creditors
6 Where are these data centers located
Theyre in Texas which has become a popular spot for Bitcoin mining thanks to relatively low energy costs and a businessfriendly environment
7 What does mining mean in this context
Bitcoin mining is the process of using powerful computers to verify transactions on the Bitcoin network Miners earn Bitcoin as a reward It requires a lot of electricity
8 Why is this deal a big deal
Its one of the larger acquisitions in the Bitcoin mining industry during a tough period for the sector It shows Hut 8 is expanding while other companies are struggling
Intermediate Questions
9 How much did Hut 8 pay exactly
Hut 8s winning bid was approximately 140 million for Poolins Texas data center assets
10 What does Hut 8 get out of this
Hut 8 gains two readybuilt data centers with existing infrastructure power capacity buildings and equipment which is much faster and often cheaper than building from scratch
11 Why buy existing data centers instead of building new ones
Building a large mining facility from the