Bitcoin Miner Poolin Technology Files Chapter 11 With $173M Debt as $52M Asset Sale Moves Forward

Bitcoin mining pool operator Poolin Technology and its U.S. affiliates have filed for Chapter 11 bankruptcy protection in New Jersey. Facing $173M in debt, the company is seeking court approval to liquidate operations and sell its remaining assets. A $52M asset sale is currently proceeding as part of this process. Once a dominant player in the industry, Poolin Technology is now moving toward full liquidation to resolve its significant outstanding financial obligations.