Hut 8 wins bidding for Poolin’s Texas data centers with $140M offer

Hut 8 just paid $140 million for two data center sites in West Texas that previously belonged to Poolin Technology, the once-prominent Bitcoin mining pool operator that collapsed into Chapter 11 bankruptcy. The winning bid, confirmed on September 23, nearly tripled the original stalking-horse offer of $52 million from Thor CALAP LLC.

The deal adds the Pyote and Tarbush facilities to Hut 8’s growing portfolio of power-hungry infrastructure, sites originally built for Bitcoin mining but increasingly valuable for their grid connections and power rights.

From mining pool to auction block

Poolin’s downfall has been years in the making. The Singapore-based mining pool suspended wallet access back in 2022, leaving customer funds in limbo. That unresolved mess eventually ballooned into $173 million in prepetition obligations, forcing the company to file for Chapter 11 on July 22, 2026.

The two Texas sites had roughly 100 MW of power allocation for Bitcoin mining before operations ceased in July 2026.

Thor CALAP LLC opened the bidding as the stalking-horse, offering $15 million for Pyote and $37 million for Tarbush. DigiPower X Inc. placed a backup bid of $36.5 million for one of the sites.

Hut 8’s AI infrastructure buildout

The crown jewel of that strategy is Beacon Point, Hut 8’s separate 1 GW campus that has reached a significant milestone. The facility is now fully leased through 15-year triple-net agreements with a base-term value of at least $19.6 billion. If those leases get renewed, that figure could climb to $50.2 billion.

Beacon Point’s contracted 704 MW of IT capacity is expected to generate average annual net operating income of approximately $1.31 billion. The campus is designed to meet high-performance computing standards aligned with industry leaders like Nvidia.

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