Hut 8 Hut wins bid for Poolin’s two Texas data centers; transaction pending bankruptcy court approval

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Hut 8 to 140000000 USD win the bid for the Texas data centers of bankrupt crypto miner Poolin

PANews September 24 news, according to The Block, reports that court documents show Hut 8 became the winning bidder for two data center sites belonging to bankrupt crypto miner Poolin in Texas, with a bid of 140000000 USD. The bid, which includes cash and other consideration, covers Poolin’s Pyote and Tarbush sites. The transaction must be approved by the U.S. Bankruptcy Court for the District of New Jersey before it can be finalized. The sale hearing is scheduled for September 29. Poolin and its two U.S. affiliates filed for Chapter July bankruptcy protection on 11 after ending mining and hosting operations at the Texas sites. Court documents show that the company’s total debt was approximately 173100000 USD, including amounts owed to Poolin Wall following the freezing of withdrawals in 2022...

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Key points

Court documents show that Hut 8 became the winning bidder for two data center sites belonging to Poolin in Texas.
The bid was 140000000 USD, including cash and other consideration.
The bid covers Poolin’s Pyote and Tarbush sites.
The transaction must be approved by the U.S. Bankruptcy Court for the District of New Jersey; the sale hearing is scheduled for September 29.
After ending mining and hosting operations at the Texas sites, Poolin and its two U.S. affiliates filed for bankruptcy protection on July Chapter 11 bankruptcy protection.
Court documents show that Poolin’s total debt was approximately 173100000 USD。

AI-assisted interpretation

The following is analysis, separate from reported facts. Verify important claims independently.

This is a bankruptcy asset sale: Hut 8 submitted the highest bid, but the transaction still requires court approval.

Why it matters to readers

Whether the transaction is completed depends on approval by the U.S. Bankruptcy Court for the District of New Jersey; the sale hearing is the next milestone.

The data center sites can be used for mining and hosting operations; this case involves the sale of assets by a bankrupt company.

Risks and unknowns

The evidence text is truncated at the debt composition section, so the full debt details cannot be confirmed.
The evidence does not state whether the court ultimately approved the transaction.

Hut 8 Hut wins bid for Poolin’s two Texas data centers; transaction pending bankruptcy court approval

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