Poolin's Bitcoin Mining Assets Headed to Auction with $52M Opening Bid

The bankruptcy proceedings for Poolin are advancing toward a court-supervised auction of its Bitcoin mining operations. The auction is scheduled to take place on September 10, provided multiple qualifying bids materialize.

The process begins with a floor price of $52 million from an initial stalking horse bidder, Thor CALAP LLC. This valuation will serve as the anchor for any potential sales, but it does not guarantee that Thor CALAP will ultimately secure the assets.

Nearly 11,700 wallet holders are seeking recovery on approximately $163.7 million in unsecured claims. These creditors have until September 16 to file objections or forfeit their challenge rights. The court has scheduled a remote Section 341 meeting of creditors for August 28 and will convene a hearing on September 18 to consider final approval of the asset disposition.