Bitcoin Miner Poolin Technology Files Chapter 11 With $173M Debt, $52M Asset Sale Approved

According to Bitcoin.com News, Poolin Technology filed for Chapter 11 bankruptcy protection on July 22, 2026, in the U.S. Bankruptcy Court for the District of New Jersey. The Singapore-based Bitcoin mining pool operator carries approximately $173 million in total debt, including $163.7 million in unsecured promissory notes owed to roughly 11,700 wallet holders whose funds remain frozen since the company suspended withdrawals during the 2022 cryptocurrency market downturn.

As part of the court-supervised liquidation, Poolin reached a stalking-horse asset purchase agreement with Thor CALAP LLC valued at $52 million for its two West Texas mining facilities. The Pyote site is valued at $15 million, while the Tarbush facility's power rights and equipment are valued at $37 million. The sale is subject to court approval and higher or better offers. Poolin permanently halted all mining and hosting operations on July 10, 2026, and stated it will use proceeds to satisfy creditor claims under a liquidating plan.