Poolin Technology filed for Chapter 11 bankruptcy protection in the United States, facing total claims of $173 million. The company, once one of the world’s largest bitcoin miners, has lined up a stalking-horse bid of $52 million for the sale of its mining assets in Texas. This bankruptcy filing comes as the cryptocurrency mining sector continues to struggle with the aftermath of the 2022 market crash and rising energy costs. Poolin’s Texas assets represent the bulk of what remains of its operations after months of financial difficulties.
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