Poolin Bitcoin Mining Pool Enters Chapter 11 Bankruptcy Proceedings
The cryptocurrency mining operation Poolin has entered Chapter 11 bankruptcy proceedings while simultaneously launching the sale of two Texas-based mining facilities valued at $52 million as part of its creditor repayment strategy.
On Wednesday, Poolin, a Bitcoin mining pool operator headquartered in Singapore, along with two of its United States-based subsidiary companies, submitted Chapter 11 bankruptcy filings to a New Jersey-based court.
Documents submitted to the court by Poolin reveal that the mining pool organization has estimated total liabilities ranging between $100 million and $500 million, with assets valued between $1 million and $10 million, and a creditor base consisting of 10,001 to 25,000 individuals and entities.
The company and its affiliated entities are additionally pursuing court authorization to proceed with the sale of two mining facilities located in West Texas to Thor CALAP LLC through a stalking-horse bid arrangement valued at $52 million. The purchase agreement encompasses $37 million allocated to the Tarbush property assets, which includes the assumption of certain liabilities, along with $15 million designated for the Pyote location, covering power rights, mining equipment and all additional assets connected to the mining operations.
The planned asset sale would proceed through a court-supervised auction process, with bidding procedures establishing Sept. 8 as the deadline for submission of competing bids.
In 2019, Poolin held the position as the world's most prominent Bitcoin mining pool. Currently, the company occupies the 17th position among mining pool operators measured by hashrate, commanding a 0.2% share of the market, as reported by Hashrate Index.
Bitcoin miners increasingly turn to restructuring and AI
Financial pressures continue to mount on Bitcoin mining enterprises as escalating electricity expenses create operational challenges, compelling certain operations to cease activities while others explore alternative revenue generation opportunities.
During February, the NFN8 Group together with two related affiliate companies submitted Chapter 11 bankruptcy petitions to the Western District of Texas court.
Meanwhile, other mining operations have pursued strategic diversification into artificial intelligence infrastructure. In November 2025, Bitfarms made the decision to implement a comprehensive shutdown of its Bitcoin mining activities in order to redirect focus toward AI and high-performance computing data center operations.
This past Monday, two Bitcoin mining enterprises, Hut 8 and IREN, revealed significant artificial intelligence infrastructure transactions. Hut 8 disclosed a 15-year lease agreement valued at $9.8 billion for its AI data center campus property, while IREN made public $2.8 billion worth of cloud services agreements with artificial intelligence development companies. Previously in July, MARA Holdings made public its intentions to purchase a Texas property featuring capacity of up to 2 gigawatts for the purpose of expanding its AI and digital infrastructure operations.
Financial services firm Bernstein has indicated that partnerships with external providers, including Bitcoin mining companies, will prove essential for AI enterprises attempting to overcome the computational capacity limitations currently facing AI data center facilities.