Crypto mining pool Poolin files for bankruptcy in New Jersey

Bitcoin mining pool operator Poolin Technology and two affiliated companies have filed for Chapter 11 bankruptcy protection in New Jersey, with court records placing Poolin’s estimated liabilities between $100 million and $500 million. Summary Poolin and two affiliates filed for Chapter 11 bankruptcy in New Jersey on July 22. Poolin listed liabilities of $100 million to $500 million and up to 25,000 creditors. Qualified bids for the debtors’ assets are due Sept. 8, with a possible auction set for Sept. 10. Creditors are scheduled to meet Aug. 28, while the asset sale hearing is set for Sept. 18. Verita Global’s case information page shows that Poolin Technology PTE. LTD., Lonestar Taproot LLC and Lonestar Dream, Inc. filed voluntary petitions on July 22 in the U.S. Bankruptcy Court for the District of New Jersey. The three cases are being jointly administered under Poolin’s lead case, 26-18325, before Judge Eamonn J. O’Hagan. Poolin’s filing lists estimated assets of between $1 million and $10 million and liabilities of between $100 million and $500 million. The petition estimates that the company has between 10,001 and 25,000 creditors and states that funds are expected to be avai...