Hut 8 Won Auction for Texas Data Centers

The firm secured sites in Pyote and Tarbush for $140 million following a bankruptcy auction.

Updated on Sept. 23, 2026 in Data Centers

Isometric editorial illustration of a steel-clad industrial server facility on a flat, arid landscape, representing data center infrastructure expansion. — Hut 8 acquired two Texas data center facilities from the bankrupt firm Poolin for $140 million to expand its AI infrastructure capacity. AI Illustration. Upload story photo >

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Hut 8 emerged as the winning bidder for Poolin's Texas data centers, offering $140 million to acquire the facilities. The transaction follows Poolin's Chapter 11 bankruptcy filing initiated in July.

Why it matters

The acquisition allows Hut 8 to aggressively expand its data center capacity to support growing demand for AI infrastructure. The company currently manages a pipeline of nearly 9 gigawatts of power.

The winning $140 million bid encompasses facilities in Pyote and Tarbush. This figure significantly surpassed the collective $52 million in stalking-horse bids submitted previously.

The players

Hut 8

Hut 8 is a specialized infrastructure operator that focuses on data center expansion and high-performance computing.

Poolin

Poolin is a distressed firm currently undergoing bankruptcy proceedings after facing significant financial instability.

The details

Hut 8 aims to integrate these sites into its broader strategy to monetize AI infrastructure, a segment where the company holds an estimated $26.6 billion in potential contract value. The purchase remains subject to final court proceedings regarding the liquidation of assets related to Poolin's $173.1 million debt load.

2022: Poolin froze wallet user withdrawals.
July 2026: Poolin filed for Chapter 11 bankruptcy.
September 29, 2026: Bankruptcy sale hearing scheduled.

Roadmap

The acquisition reflects the broader industry trend of miners transitioning into specialized AI infrastructure operators. This move positions Hut 8 to capitalize on its massive development pipeline while leveraging existing data center footprints.

The sale affects the settlement process for Poolin users, who are currently owed over $163 million in unsecured debt. For investors, the purchase signals a significant scaling of Hut 8's infrastructure capacity that could impact future operational output.

The takeaway

The auction highlights the increasing consolidation of physical power infrastructure as AI demand continues to surge. Investors should monitor court proceedings as these assets are integrated into larger computing networks.

What happens next

A bankruptcy sale hearing is scheduled for September 29, 2026, where the U.S. Bankruptcy Court for the District of New Jersey will decide whether to approve the $140 million transaction.