Hut 8 Wins $140M Bid for Poolin's Texas Data Centers
HUT has more than doubled off its 52-week low of $31.67.
Summary
Hut 8 emerged as the winning bidder for bankrupt crypto miner Poolin's two Texas data center sites with a $140 million offer, nearly triple the $52 million stalking-horse bids. The acquisition adds Pyote and Tarbush campuses to Hut 8's growing AI infrastructure portfolio, which already includes 949 MW of contracted capacity worth an estimated $26.6 billion. The deal requires bankruptcy court approval, with a sale hearing set for Sept. 29. This follows Hut 8's aggressive expansion into AI data centers, including the fully leased Beacon Point campus and a $9.8 billion lease signed in July. The purchase strengthens Hut 8's position in the Texas power market, where demand from AI data centers is surging.
At the time of this announcement, HUT was trading at $104.16 on NASDAQ in the Technology sector, with a market capitalization of approximately $12.8B. The 52-week trading range was $31.67 to $140.80. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: The Block.