Poolin files Chapter 11 bankruptcy

Poolin, once the world's largest Bitcoin mining pool, filed for Chapter 11 bankruptcy protection in the United States on July 22, 2026, with approximately $173.1 million in liabilities. The Singapore-based company, along with its U.S. subsidiaries Lonestar Dream Inc. and Lonestar Taproot LLC, filed in the U.S. Bankruptcy Court for the District of United States — New Jersey. The bulk of the debt ($163.7 million) stems from IOUs issued to Poolin Wallet customers after withdrawals were suspended in September 2022 during the crypto market downturn. Poolin plans to sell its two Bitcoin mining facilities in West United States — Texas (Pyote and Tarbush) with a combined stalking-horse bid of $52 million from Thor CALAP LLC. The company ceased mining operations on July 10, 2026. The bankruptcy follows years of financial turmoil after the 2022 crypto crash, aggressive expansion, and the collapse of its wallet service. The sale process has attracted interest from AI and high-performance computing operators due to the sites' power infrastructure. Creditor recoveries will depend on the auction outcome and court approval.