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Poolin files for Chapter 11 and sets $52 million floor bid for Texas assets

Poolin Technology listed about $173 million in claims as part of its Chapter 11 filing and proposed a $52 million stalking-horse bid to cover its Texas mining operations.

Reported · Written up by our desk · Market Structure

Poolin Technology, a former bitcoin miner, has filed for Chapter 11 protection, according to The Block. The filing includes $173 million in claims.

The company is also lining up a stalking-horse bid to support the sale of its Texas mining assets, with a stated minimum bid of $52 million.

The Chapter 11 process will determine how Poolin’s Texas operations are handled as part of the bankruptcy proceedings.

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Sources

The BlockFormer bitcoin miner Poolin files Chapter 11, sets $52 million floor bid for Texas operations

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