Hut 8 Won Auction for Texas Data Centers
The $140 million bid signals Hut 8's expansion into AI infrastructure capacity.
Updated on Sept. 23, 2026 in Data Centers
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Hut 8 has secured the winning bid of $140 million for two Texas data centers previously operated by Poolin. This acquisition follows Poolin's Chapter 11 bankruptcy filing in July.
Why it matters
The deal advances Hut 8's shift toward hosting AI infrastructure, a sector where the firm currently estimates $26.6 billion in contract value. It highlights the aggressive consolidation of existing data center sites to scale power capacity rapidly.
Hut 8 reported an 8.7-gigawatt development pipeline in Q2, significantly bolstering its portfolio as it integrates the Pyote and Tarbush facilities. These sites arrive as the company pursues 949 megawatts of contracted AI infrastructure capacity.
The players
Hut 8
A digital infrastructure firm currently pivoting its data center operations toward high-density AI computing and power capacity management.
Poolin
A former mining and infrastructure firm currently undergoing Chapter 11 bankruptcy proceedings following a total cessation of user withdrawals.
The details
Hut 8 won the auction for the assets through a combination of cash and consideration, outbidding separate offers for the individual Pyote and Tarbush campuses. The acquisition is part of a broader bankruptcy process necessitated by Poolin's collapse, which left the firm with $173.1 million in total debt, including $163.7 million owed to wallet users who lost access to funds after withdrawals were frozen in 2022. The deal now awaits final approval from the U.S. Bankruptcy Court for the District of New Jersey.
Timeline
2022: Poolin froze all wallet user withdrawals.
July 2026: Poolin filed for Chapter 11 bankruptcy.
September 29, 2026: Bankruptcy sale hearing is scheduled.
The Tech Race
The acquisition follows the procedural mandates of Chapter 11 bankruptcy to resolve Poolin's outstanding debts. It positions Hut 8 to rapidly scale its physical footprint in Texas to meet the massive power demands of its expanding AI infrastructure contracts.
This transaction focuses on large-scale infrastructure acquisition rather than immediate end-user services for local residents. The primary shift involves the transition of existing industrial energy and computing capacity in Pyote and Tarbush into Hut 8's broader AI development pipeline.
The takeaway
Hut 8 is aggressively leveraging bankruptcy liquidations to secure the physical infrastructure needed to satisfy its multi-billion dollar AI capacity contracts. Investors and stakeholders should watch the September 29 court hearing for final authorization of the asset transfer.
What happens next
The U.S. Bankruptcy Court for the District of New Jersey will hold a hearing on the sale on September 29, 2026.
Further reading
For more on the scale and power requirements of the sector, see Data Centers.
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