Poolin files for Chapter 11 bankruptcy protection in the US, plans to sell Texas mining farm for $52 million
ChainCatcher news, according to TheMinerMag, former world’s largest Bitcoin mining pool Poolin has filed for Chapter 11 bankruptcy protection in the United States, planning to sell its Texas Bitcoin mining assets for $52 million and cease operations. Poolin and its two U.S.-affiliated companies voluntarily filed in the New Jersey Bankruptcy Court on July 22, with liabilities of about $173 million, of which around $163.7 million are unsecured IOUs issued to Poolin Wallet users after withdrawals were suspended during the 2022 crypto market downturn.
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