Former bitcoin miner Poolin files Chapter 11, sets $52 million floor bid for Texas operations
The Block·
60-second summary
Poolin Technology is currently filing for Chapter 11 with $173 million in outstanding claims, setting a $52 million floor bid for its Texas mining operations. This move aims to restructure the company's debt and potentially sell off its assets. The stalking-horse bid indicates a minimum sale price for the Texas operations, which may impact the broader cryptocurrency mining market.
Poolin Technology filed for Chapter 11 with $173 million in claims, lining up a $52 million stalking-horse bid for its Texas mining assets.