Hut 8 Wins $140 Million Bid for Poolin’s Texas Data Centers
The bid covers Poolin’s Pyote and Tarbush sites and is about 2.7 times the stalking-horse offer that opened the auction.
Hut 8 has won a $140 million bid for Poolin’s Pyote and Tarbush data-center sites in Texas, potentially expanding the company’s infrastructure footprint beyond its existing Bitcoin-related operations.
The offer consists of cash and other consideration, with the filing not breaking out the components. It is about 2.7 times the $52 million stalking-horse bid that began the auction process. That earlier offer valued Pyote at $15 million and Tarbush at $37 million.
The proposed transaction is not final. A court hearing on the proposed sale is set for Sept. 29 at 11 a.m. ET (1500 UTC), with closing still dependent on required documents and other conditions.
Poolin Technology Pte. Ltd. and two U.S. affiliates filed for Chapter 11 protection July 22. The court-supervised auction covers the two Texas properties and associated infrastructure and equipment. The filing does not establish how Hut 8 would use the assets or how much of the winning bid would be paid in cash.
