Hut 8 wins $140 million bid for bankrupt crypto miner Poolin’s Texas data center

PANews reported on September 24 that according to The Block, court documents showed that Hut 8 became the winning bidder for bankrupt crypto miner Poolin’s two data center sites in Texas, with a bid of $140 million. The bid, which includes cash and other consideration, covers Poolin's Pyote and Tarbush sites. The deal must be approved by the U.S. Bankruptcy Court for the District of New Jersey before it can be finalized. A hearing on the sale is scheduled for September 29.

Poolin and its two U.S. affiliates filed for Chapter 11 bankruptcy protection in July after winding down mining and hosting operations at the Texas site. The company's total debt is about $173.1 million, including about $163.7 million in unsecured debt owed to Poolin Wallet users due to a withdrawal freeze in 2022, court documents show.