Hut 8 acquires Poolin's Texas Bitcoin mining assets, restarting bidding with a maximum value of 180 million USD

According to TheEnergyMag, the bankruptcy court in New Jersey, USA, has approved the reopening of the bidding process for the assets of Poolin's Texas Bitcoin mining operation. A related company under Hut 8 remains the baseline buyer, with a total acquisition proposal valued at up to $180 million, including $100 million to be paid at closing and up to $80 million in milestone payments related to future data center transactions.

Court documents indicate that the additional payments will be linked to data center development projects such as AI, high-performance computing, cloud computing, and hosting facilities, but will not include facilities primarily used for cryptocurrency mining. Previously, Poolin had opted for a $140 million transaction proposal, but the auction was restarted due to bidding disputes. The public auction will take place on October 2, and other bidders must submit their offers by October 1. The court stated that the rebidding aims to maximize creditor interests.