Singapore-based Bitcoin mining pool Poolin and two of its US affiliates filed for Chapter 11 bankruptcy in a New Jersey court. According to the court filing, the company’s estimated liabilities range from $100 million to $500 million, while assets total between $1 million and $10 million, with 10,001 to 25,000 creditors. Poolin is also seeking to sell two West Texas mining sites for $52 million as part of its creditor recovery program. Once the world’s largest Bitcoin mining pool in 2019, Poolin now ranks 17th with a 0.2% market share.
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