Hut 8 Wins $140 Million Bid for Poolin’s Texas Sites

Hut 8 has been named the winning bidder for two Texas data-center sites owned by bankrupt cryptocurrency mining company Poolin, with a $140 million offer that remains subject to approval by a federal bankruptcy court. A Wednesday court filing lists Hut 8’s bid, which includes cash and other consideration, for Poolin’s Pyote and Tarbush properties. The U.S. Bankruptcy Court for the District of New Jersey has scheduled a sale hearing for September 29. The proposed transaction has not been finalized, and the available information does not establish that the sale has closed. Hut 8’s offer substantially exceeded the sites’ combined opening bids of $52 million from Thor CALAP: $15 million for Pyote and $37 million for Tarbush. Other bids included a $36.5 million backup offer from DigiPower X for Pyote and a $100.5 million offer for Tarbush from Pecos Industrial Development, acting for AI infrastructure company Fluidstack. Poolin and two U.S. affiliates sought Chapter 11 bankruptcy protection in July after winding down mining and hosting operations at the Texas sites. Court filings put Poolin’s obligations at about $173.1 million, including approximately $163.