CoinTelegraph
Bitcoin Mining Giant Poolin Files for Chapter 11 Bankruptcy Amid Massive Debt Crisis
July 24, 2026•05:38 AM
The Bitcoin mining landscape faces significant turbulence as Singapore-based mining pool operator Poolin and its US affiliates filed for Chapter 11 bankruptcy. With estimated liabilities soaring between $100 million and $500 million against minimal assets, the filing highlights a severe liquidity crisis affecting tens of thousands of creditors.
In a desperate bid for creditor recovery, Poolin has initiated a $52 million sale of its West Texas mining sites to Thor CALAP LLC. This strategic liquidation includes the Tarbush and Pyote facilities, encompassing critical power rights and hardware, as the company attempts to navigate its massive insolvency through a court-approved stalking-horse bid.
This is a summarized and adapted version by Artificial Intelligence. To read the complete original story, visit the official source.
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