Bitcoin Mining Pool Poolin Files for Chapter 11 Bankruptcy, Seeks $52M Asset Sale

BTC-1.36%
According to court filings, Singapore-based Bitcoin mining pool Poolin and two US affiliates filed for Chapter 11 bankruptcy in New Jersey on Wednesday. The company estimated liabilities of $100 million to $500 million against assets of $1 million to $10 million. Poolin is seeking court approval to sell two West Texas mining sites to Thor CALAP LLC for $52 million, comprising $37 million for the Tarbush assets and $15 million for the Pyote site. The proposed sale will be subject to a court-supervised auction with a bid deadline of September 8. Once the world's largest Bitcoin mining pool in 2019, Poolin currently ranks 17th among mining pool operators by hashrate with 0.2% market share.
Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.
Comment
0/400
No comments