Bitcoin miner Poolin filed for bankruptcy in the United States with its subsidiaries Lonestar Dream and Lonestar Taproot, reporting approximately $173.1 million in declared bonds, of which $163.7 million relates to frozen wallet withdrawals from 2022. The Bitcoin network hashrate dropped 24%, falling from 1,098 EH/s in September 2025 to around 834 EH/s on July 23, forcing the least profitable miners to shut down their machines. Poolin suspended operations at its Texas sites in Pyote and Tarbush, now listed for sale at a combined price of $52 million. Meanwhile, Kazakhstan adopted new strategic digital mining rules on July 18, 2026, requiring mining companies to transfer a portion of their mined BTC to a national crypto reserve. This divergence between struggling private miners and increasing state interest in mining raises questions about potential centralization of Bitcoin.
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