Popular data center company buys bankrupt rival's assets

Hut 8 is paying a massive $140 million for bankrupt Poolin’s data centers—nearly triple the minimum bid—while 11,700 customers are left holding $163 million in unpaid IOU tokens. This aggressive 2.7x premium confirms that Bitcoin mining is being abandoned for AI infrastructure at any cost. Is overpaying by $88 million a genius land grab or a reckless slap in the face to the victims of the mining collapse? Is the pivot to AI worth this price? What’s your take?
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