Poolin Crypto Miner Seeks Bankruptcy Amid Market Volatility
Crypto miner Poolin Technology has filed for Chapter 11 protection in New Jersey bankruptcy court due to liabilities exceeding $173 million. The move comes after a Chinese ban on cryptocurrency mining and market volatility.
Poolin's decision to seek Chapter 11 protection points to the significant challenges facing the crypto industry, particularly after China's regulatory crackdown in May 2026.
The company plans an asset sale as part of its bankruptcy proceedings. Poolin's filing highlights the risks associated with price volatility and regulatory uncertainty in the cryptocurrency market.