Hut 8 has acquired two data center sites in West Texas from Poolin Technology for $140 million, according to a bid confirmed on September 23. The winning offer nearly tripled the initial stalking-horse bid of $52 million from Thor CALAP LLC.
The Pyote and Tarbush facilities were originally built for Bitcoin mining and come with roughly 100 MW of power allocation. Poolin suspended operations at the sites in July 2026, the same month the Singapore-based mining pool filed for Chapter 11 bankruptcy after accumulating $173 million in prepetition obligations.
Background on Poolin's Collapse
Poolin's difficulties began in 2022 when the company suspended wallet access, leaving customer funds unresolved. This issue ultimately contributed to its bankruptcy filing on July 22, 2026.
The auction drew multiple bidders. Thor CALAP LLC opened bidding at $15 million for Pyote and $37 million for Tarbush. DigiPower X Inc. submitted a backup bid of $36.5 million for one of the sites before Hut 8's winning offer.
Hut 8's Infrastructure Strategy
The acquisition adds to Hut 8's portfolio of data center infrastructure. The company is also developing Beacon Point, a 1 GW campus designed for high-performance computing. That facility has been fully leased through 15-year triple-net agreements with a base-term value of at least $19.6 billion, potentially reaching $50.2 billion if leases are renewed.
Beacon Point's 704 MW of IT capacity is projected to generate average annual net operating income of approximately $1.31 billion.
