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Poolin Bitcoin Mining Bankruptcy – Asset Auction Progress
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2026-07-27 06:56 UTC → 2026-08-05 06:06 UTC ·
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Poolin Bitcoin Mining Bankruptcy – Asset Auction Progress
Poolin Technology, a the Singapore‑based Bitcoin mining pool that once contributed roughly supplied about 20% of global hashrate, filed for a voluntary Chapter 11 bankruptcy petition in a the U.S. District Court for the District of New Jersey federal court in late on July 22, 2026. The filing disclosed lists pre‑petition liabilities of about roughly $173 million, most of which $163.7 million are unsecured IOUs owed to around approximately 11,700 users whose wallet withdrawals were frozen in 2022, while 2022. Reported assets are estimated range between $1‑$10 $1 million and $10 million. To fund debt repayment, Poolin and its U.S. affiliates have placed its (Lonestar Dream Inc. and Lonestar Taproot LLC) are auctioning two West‑Texas mining facilities, Pyote facilities—Pyote and Tarbush, up for auction. Tarbush. A stalking‑horse bid of $52 million from Thor CALAP LLC (approximately (about $15 million for Pyote and $37 million for Tarbush) was reported, has been accepted, with an initial bid figure market estimate of around $50 million noted in follow‑up coverage. million. The auction deadline is set for early September. September 8, and court‑supervised hearings on the sale are scheduled for mid‑August. Thor CALAP’s due‑diligence period ends on August 9, after which it may withdraw if the review is unsatisfactory. Analysts argue continue to stress that the bankruptcy will not materially is unlikely to affect Bitcoin Bitcoin’s network security or overall hashrate, but it highlights persistent financial strain in the crypto‑mining sector, driven by falling cryptocurrency prices and high energy costs, sector and may hasten a accelerate the shift of mining hardware toward AI and high‑performance computing uses. high‑performance‑computing applications.
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- 2026-08-05 06:06 UTC Poolin Bitcoin Mining Bankruptcy – Asset Auction Progress
- 2026-07-27 06:56 UTC Poolin Bitcoin Mining Bankruptcy
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