Bitcoin mining pool Poolin files for Chapter 11 bankruptcy
Cointelegraph 2026-07-24 08:38:49
Context: Poolin, a prominent Bitcoin mining pool, has filed for Chapter 11 bankruptcy as part of its efforts to recover from financial difficulties. The company is taking steps to restructure its debt and has initiated the sale of its two West Texas mining sites for $52 million. This move is aimed at helping Poolin recover and pay its creditors.
Key Facts
- Poolin filed for Chapter 11 bankruptcy and is pursuing a creditor recovery program to restructure its debt and address financial challenges.
- As part of its bankruptcy proceedings, Poolin is selling its two West Texas mining sites for a total of $52 million to aid in its recovery efforts.
- The sale of its mining sites is a strategic move by Poolin to generate funds and facilitate its debt repayment to creditors.