Poolin Files for Bankruptcy with $173 Million in Liabilities

Poolin, a leading cryptocurrency mining pool operator, has filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the District of New Jersey.

The company's total liabilities exceed $173 million, approximately ¥28.3 billion, and it has halted its mining operations completely.

Pollin's subsidiary Lonestar Dream (LSD) ceased operations as of July 10, and the company is planning to retain only the minimum personnel necessary for asset preservation and sale procedures.

The bankruptcy filing is expected to be liquidation-focused, prioritizing repayment to creditors through asset sales rather than reorganization.