Hut 8 has been named the winning bidder for two Texas data-center sites (Pyote and Tarbush) owned by bankrupt mining company Poolin, with a $140 million offer. This amount represents nearly three times the initial $52 million stalking-horse bids that launched the auction process. Poolin filed for Chapter 11 protection in July with approximately $173 million in obligations. The transaction remains subject to U.S. bankruptcy court approval, with a hearing scheduled for September 29. The dramatic increase in auction price suggests that these sites are increasingly valued for their grid access and computing potential beyond Bitcoin mining.
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