Hut 8 has been selected as the winning bidder for two Texas data center sites owned by bankrupt mining company Poolin. The $140 million offer came in at nearly three times the opening bids and highlights the increasing value of power-ready mining infrastructure as AI demand expands.
Two data center sites with roots in Bitcoin mining could soon have a new owner.
Hut 8 has been selected as the winning bidder for Poolin's Pyote and Tarbush facilities in Texas, offering $140 million in cash and other consideration. The transaction is not yet final: it remains subject to approval by the U.S. Bankruptcy Court, with a sale hearing scheduled for September 29.
The final bid was notable for its size.
The combined opening stalking-horse offers for the two properties totaled $52 million. Hut 8's proposal was therefore roughly 2.7 times higher, illustrating how aggressively the market is valuing sites with existing power and data center infrastructure.
Poolin and two U.S. affiliates entered Chapter 11 proceedings in July after winding down mining and hosting operations at the Texas locations. Court filings put the group's obligations at approximately $173.1 million, including roughly $163.7 million in unsecured obligations connected to Poolin Wallet users.
The auction also says something broader about today's mining industry.
A large mining campus is no longer valued only by the amount of Bitcoin hashrate it can host. Grid connections, available megawatts, industrial land and data center infrastructure have become increasingly valuable as AI companies compete for sites capable of supporting high-density computing.
Hut 8 has been moving aggressively in that direction. Its development pipeline reached approximately 8.7 GW during the second quarter, while the company has secured 949 MW of contracted AI infrastructure capacity with an estimated $26.6 billion in base-term contract value across major projects.
The bidding process itself reflected the same shift, with both mining-focused companies and AI infrastructure interests competing for Poolin's sites.
For Bitcoin miners, the takeaway is increasingly clear: the value of a mining operation is becoming tied not only to its ASIC fleet, but also to the quality and scale of its energy infrastructure.
As AI and HPC operators continue to compete for electricity and data center capacity, sites originally developed for Bitcoin mining may become strategically important assets for several different types of computing.
If approved by the court, Hut 8's Poolin transaction will be another significant example of that transformation.
