Bitmain's Data Center Sale Plan Faces Backlash, Bidding Price Rises to $180 Million

Bitmain, a bankrupt cryptocurrency mining company, plans to sell two data centers located in Texas, but it has faced opposition from potential bidders who argue that the sale process is rushed and unfair, undervaluing the assets. A $52 million bid from real estate investment firm Thor CALAP LLC is considered to underestimate the value of these properties. Abbauer Industries LLC has filed an objection in the U.S. Bankruptcy Court for the District of New Jersey, stating that these sites could be developed into artificial intelligence computing data center parks, potentially generating up to $4 billion in enterprise value. Due to the bidders' opposition and intensified competition, the asset auction for Poolin has become fierce, with the latest creditors' meeting revealing that the current bid price for the relevant assets has risen to $180 million, approximately 246% higher than Thor CALAP LLC's initial offer.

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