Singapore-based Bitcoin mining pool Poolin and two of its US associates filed for Chapter 11 bankruptcy in a New Jersey courtroom on Wednesday.
Poolin’s courtroom submitting reveals that the mining pool operator has estimated liabilities of $100 million to $500 million, property of $1 million to $10 million and 10,001 to 25,000 collectors.
Poolin and its associates are additionally looking for courtroom approval to promote two West Texas mining websites to Thor CALAP LLC beneath a proposed $52 million stalking-horse bid. This contains $37 million for the Tarbush property, together with assumed liabilities, and $15 million for the Pyote website, together with the ability rights, gear and all different property tied to the mining amenities.
The proposed sale could be topic to a court-supervised public sale, with a bid deadline of Sept. 8 beneath the proposed bidding procedures.
Poolin was as soon as the world’s largest Bitcoin mining pool in 2019. It now ranks because the seventeenth largest mining pool operator by hashrate, with a 0.2% market share, in line with (*11*) Index.
Bitcoin miners more and more flip to restructuring and AI
Bitcoin mining operations are dealing with rising monetary constraints as a result of rising electrical energy prices, forcing some operations to close down whereas others are looking for new income sources.
In February, NFN8 Group and two of its associates filed for Chapter 11 bankruptcy within the Western District of Texas.
Other miners have sought to diversify into AI infrastructure. In November 2025, Bitfarms initiated a whole wind-down of its Bitcoin mining operations to pivot to AI and high-performance computing knowledge facilities.
On Monday, Bitcoin mining firms Hut 8 and IREN introduced main AI infrastructure offers. Hut 8 introduced a 15-year, $9.8 billion lease for its AI knowledge heart campus and IREN disclosed $2.8 billion in cloud companies contracts with AI builders. Earlier in July, MARA Holdings introduced plans to accumulate a Texas website with as much as 2 gigawatts of capability to broaden its AI and digital infrastructure enterprise.
Wealth administration firm Bernstein mentioned that offers with third-party suppliers, resembling Bitcoin miners, will likely be mandatory for AI firms looking for to handle the computing energy limits of AI knowledge facilities.
