Poolin Technology and Affiliates File for Chapter 11 Bankruptcy Protection

Poolin Technology Pte. Ltd., Lonestar Dream Inc., and Lonestar Taproot LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the District of New Jersey on July 22, 2026.

The three affiliated cryptocurrency companies, owned by Zhibiao 'Kevin' Pan, reported $1 million to $10 million in assets and $100 million to $500 million in liabilities.

Poolin was founded in November 2017 as a multi-cryptocurrency mining pool and introduced its Bitcoin pool service in July 2018. It expanded operations through various sites across China before the Chinese government banned Bitcoin mining in May 2021, causing significant disruption to Poolin's business.

LSD and LST were formed in late 2021 as Delaware companies to conduct mining and hosting operations in West Texas, where they operated until July 10, 2026. The Tarbush Site is held under a Surface Use Agreement with DBR Land LLC, while the Pyote Site is owned by LST.