Bitcoin mining pool Poolin files for Chapter 11 bankruptcy
Bitcoin miner Poolin filed for Chapter 11 bankruptcy and initiated a $52 million sale of its two West Texas mining sites, as rising electricity costs constrain Bitcoin miners.
Quick take
Read original at Cointelegraph Poolin, a Singapore-based Bitcoin mining pool, has filed for Chapter 11 bankruptcy with estimated liabilities of $100 million to $500 million. The company is seeking to sell two West Texas mining sites for $52 million as part of its creditor recovery program. Poolin has 10,001 to 25,000 creditors and assets of $1 million to $10 million.
Summarised by netranta from Cointelegraph. Open the original for the full story.
Observations (0)
Log in to add an observation.
No observations yet — add the first.