Poolin Files for Chapter 11 Amid $173M Liability Woes

Poolin, one of the world's largest Bitcoin mining pools, has filed for Chapter 11 bankruptcy protection in a Delaware court. The move comes as Poolin faces significant financial strain, with liabilities totaling $173.1 million according to the court filing.

The bankruptcy filing lists asset liabilities exceeding its available assets by over $140 million, raising concerns about the long-term viability of the company. Despite this, Poolin's management has stated that they are working to resolve their financial difficulties and continue operations as usual.