Hut 8 Wins Bankruptcy Auction for Poolin’s Texas Data Centers With $140 Million Bid

Hut 8 won a bankruptcy auction for Poolin’s two West Texas data center sites with a $140 million bid in cash and other consideration, according to a September 23 court filing, though the sale still requires court approval.

The bid covers the Pyote and Tarbush campuses, originally built for Bitcoin mining, and nearly triples the combined $52 million stalking-horse offer from Thor CALAP LLC, which had bid $15 million for Pyote and $37 million for Tarbush. Backup bids came from DigiPower X Inc., which offered $36.5 million for Pyote according to the court filing, and from Pecos Industrial Development, a designee of AI infrastructure firm Fluidstack, which floated $100.5 million for Tarbush.

The U.S. Bankruptcy Court for the District of New Jersey is scheduled to hold a sale hearing on September 29, and the deal cannot be finalized before then.

Poolin and two U.S. affiliates filed for Chapter 11 protection on July 22, 2026, after winding down mining and hosting operations at the sites. The Singapore-based mining pool froze Poolin Wallet withdrawals in 2022, and court filings place its obligations at roughly $173.1 million, including about $163.7 million in unsecured IOUs to wallet users. A higher sale price than the stalking-horse floor could leave more value for creditors, though no distribution plan is set.

The purchase extends Hut 8’s push into AI data center infrastructure. The company said in its August second-quarter earnings report that its development pipeline had reached roughly 8.7 gigawatts, and it has 949 megawatts of contracted AI capacity across its River Bend and Beacon Point campuses. Fluidstack, whose designee lost the Tarbush bidding, is also Hut 8’s partner on a $7 billion AI lease backed by a Google payment guarantee.

On the August earnings call, Hut 8 CEO Asher Genoot said “Everyone wants capacity,” describing demand for large-scale computing sites.