Poolin, once the world’s largest Bitcoin mining pool, has filed for Chapter 11 bankruptcy protection in New Jersey. The Singapore-based company, which previously controlled up to 20% of global Bitcoin hashrate, reported liabilities of approximately $173.1 million against assets valued between $1 million and $10 million. The bankruptcy filing encompasses two U.S. affiliates and marks the end of Poolin’s mining operations. The company is seeking to sell its remaining mining sites in West Texas through a court-supervised process, with a $52 million stalking-horse bid already in place.
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