Hut 8-Linked Bidder Stays in Race as Poolin Restarts $180M Auction
The Texas Bitcoin mining asset auction will reopen Oct. 2 after Poolin selected a $140 million offer amid bidding disputes.
A Hut 8-linked bidder remains in contention for Poolin’s Texas Bitcoin (BTC) mining assets after a U.S. bankruptcy court approved reopening an auction valued at up to $180 million.
The proposed consideration includes $100 million payable when the transaction closes and as much as $80 million in milestone payments tied to future data center transactions. The additional payments cover projects involving artificial intelligence, high-performance computing, cloud computing and hosting facilities, while excluding facilities used primarily for cryptocurrency mining.
Poolin previously selected a $140 million transaction, but the auction was reopened following disputes over the bidding process. The court approved the restart to maximize recoveries for creditors.
Other bidders must submit proposals by Oct. 1. The public auction is scheduled for Oct. 2, with the final outcome still subject to the renewed bidding process.
