CoinDesk·2 min read·medium
Poolin was bitcoin's biggest mining pool and now it's filing for bankruptcy
J
James Van Straten
✦AI Summary
Once the world's largest bitcoin mining pool, Singapore-based Poolin has officially filed for Chapter 11 bankruptcy in New Jersey with $173 million in outstanding debt. The firm, which struggled with liquidity issues and stalled expansion projects since 2022, is now seeking to sell its remaining mining assets in West Texas.
The Singapore-based firm, which once dominated the industry, filed for Chapter 11 protection in New Jersey on July 22 with debts of around $173 million,
businesscryptoeconomy
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