Poolin Slates $52M Asset Auction Amid $163.7M Debt to Former Customers
Poolin is set to auction off its remaining Bitcoin mining assets on September 10, with a minimum value of $52 million established by stalking horse bidder Thor CALAP LLC. The company owes approximately $163.7 million to around 11,700 former wallet customers.
The US Bankruptcy Court for the District of New Jersey approved Poolin's bidding procedures on August 17, authorizing a sale process covering substantially all remaining assets. Interested parties must submit non-binding indications of interest by August 27, and qualified bidders must deliver final offers by September 8.
Poolin will seek court approval for the winning transaction at a September 18 sale hearing. The company stopped its Texas mining and hosting operations on July 10 and does not plan to restart them, focusing instead on selling infrastructure and recovering value for creditors.