Poolin Texas Mining Auction Reopens at Up to $180M
Hut 8 initially won Poolin’s Texas mining assets with a bid valued at $140 million, but the Poolin Texas mining assets auction has now reopened after negotiations with a competing bidder failed. Hut 8’s affiliate remains the stalking-horse bidder with an offer worth up to $180 million: $100 million in cash at closing and up to $80 million in milestone payments for future AI, high-performance computing, cloud and hosting facilities. Crypto-mining-focused projects are excluded from the milestone payments.
The auction is scheduled for 10am ET on 2 October, with competing bids due by noon ET on 1 October. Thor CALAP previously offered $180 million, narrowly exceeding Hut 8’s $179 million bid, but Poolin later returned to Hut 8, citing greater transaction certainty. If another buyer wins, Hut 8 will receive a $3 million termination fee and $250,000 in expenses.
Poolin and its US affiliates filed for Chapter 11 bankruptcy on 22 July 2026, reporting about $173.1 million in liabilities. Around $163.7 million was unsecured debt owed to wallet users after withdrawals were suspended in 2022. The Poolin Texas mining assets auction could influence Hut 8’s data-centre expansion, but it does not directly affect Bitcoin supply, network activity or market liquidity.
Neutral
The news is neutral for Bitcoin’s price because it does not change BTC supply, mining difficulty, network usage or market liquidity. In the short term, traders may react to headlines about Hut 8’s expansion, the auction outcome or possible delays, but these effects are more relevant to Hut 8 and the data-centre sector than to Bitcoin itself. The reopened auction highlights continued demand for power access and computing infrastructure, which may support long-term investment in Bitcoin mining and AI data centres. However, the bankruptcy process, uncertain final ownership and creditor recovery issues add transaction risk without creating a direct bullish or bearish catalyst for BTC.