Bitcoin mining pool Poolin files for Chapter 11 bankruptcy

Written by Zoltan Vardaistaff writerReviewed by Yohan Yunstaff editorWritten by Zoltan Vardaistaff writerReviewed by Yohan Yunstaff editorBitcoin mining pool Poolin files for Chapter 11 bankruptcyLatest NewsPublishedJul 24, 2026Bitcoin miner Poolin filed for Chapter 11 bankruptcy and initiated a $52 million sale of its two West Texas mining sites as part of its future creditor recovery program.Singapore-based Bitcoin mining pool Poolin and two of its US affiliates filed for Chapter 11 bankruptcy in a New Jersey court on Wednesday.Poolin’s court filing shows that the mining pool operator has estimated liabilities of $100 million to $500 million, assets of $1 million to $10 million and 10,001 to 25,000 creditors.Poolin and its affiliates are also seeking court approval to sell two West Texas mining sites to Thor CALAP LLC under a proposed $52 million stalking-horse bid. This includes $37 million for the Tarbush assets, including assumed liabilities, and $15 million for the Pyote site, including the power rights, equipment and all other assets tied to the mining facilities.The proposed sale would be subject to a court-supervised auction, with a bid deadline of Sept. 8 under the proposed bidding procedures.Poolin was once the world’s largest Bitcoin mining pool in 2019. It now ranks as the 17th largest mining pool operator by hashrate, with a 0.2% market share, according to Hashrate Index.Related: Hobby-level miner bags $200K solo BTC block with budget Bitaxe rigBitcoin miners increasingly turn to restructuring and AIBitcoin mining operations are facing growing financial constraints due to rising electricity costs, forcing some operations to shut down while others are seeking new revenue sources.In February, NFN8 Group and two of its affiliates filed for Chapter 11 bankruptcy in the Western District of Texas. Other miners have sought to diversify into AI infrastructure. In November 2025, Bitfarms initiated a complete wind-down of its Bitcoin mining operations to pivo…

Bitcoin mining pool Poolin files for Chapter 11 bankruptcy

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