Hut 8 won a bankruptcy auction for two West Texas data centers with a $140 million bid.
The offer includes cash and other considerations for Poolin’s Pyote and Tarbush facilities.
This winning bid significantly exceeded the initial $52 million stalking-horse offer.
The acquisition expands infrastructure to meet rising demand from the AI and crypto mining sectors.
The U.S. Bankruptcy Court for the District of New Jersey must still grant final approval.
A sale hearing is scheduled for September 29.