Poollin Files for Bankruptcy in New Jersey Amid Wider Mining Industry Pressure
Poollin Technology PTE. LTD., once one of the largest crypto mining pools in the industry, has filed for Chapter 11 bankruptcy protection in New Jersey.
The company and its two U.S. affiliates, Lonestar Taproot LLC and Lonestar Dream, Inc., submitted a joint petition on July 22, 2026, under the case number 26-18325, with estimated liabilities ranging from $100 million to $500 million against assets of just $1 million to $10 million.
Poolin's bankruptcy filing gives it room to reorganize its debts and work towards liquidating its assets rather than continuing operations as a going concern. The company plans to use the Chapter 11 process to pursue an orderly sale of its assets, aiming to preserve value for creditors.
The mining equipment held by Lonestar Taproot is tied directly to a partnership with Bitmain that ended in December 2023 after significant losses. Poolin previously faced a liquidity crisis in September 2022, when it suspended withdrawals from PoolinWallet and issued IOU tokens representing users' balances at a 1:1 ratio.