Poolin's Bitcoin Mining Assets Headed for $52M Auction

Poolin's Bitcoin mining infrastructure is set to be auctioned off on September 10, with an initial valuation of $52 million. The stalking horse bid was submitted by a creditor and sets the baseline for competing bidders who have until September 8 to submit their offers.

Nearly 11,700 wallet holders are seeking recovery of approximately $163.7 million in unsecured claims following Poolin's suspension of wallet withdrawals in 2022. The auction is part of Poolin's Chapter 11 bankruptcy process aimed at liquidating assets to maximize creditor returns.

Poolin's creditors have until September 16 to file objections to the sale, with final court approval expected on September 18.