Poolin Files for Chapter 11, Plans Sale of Texas Mining Facilities
Bitcoin mining pool Poolin has filed for Chapter 11 bankruptcy protection in the United States. This marks a significant development in the ongoing fallout from the 2022 cryptocurrency market downturn.
The filing, made by Poolin and its U.S. affiliates Lonestar Dream and Lonestar Taproot, includes plans to sell Bitcoin mining facilities located on a Texas site.
Poolin had been struggling to maintain operations as mining profitability declined and investor confidence eroded since the 2022 market crash.