Poolin files for 11 bankruptcy, seeks Texas asset sale

Singapore-based Bitcoin mining pool Poolin, once the world's largest, has filed for Chapter 11 bankruptcy protection in the United States, seeking to liquidate its remaining assets to repay creditors. The company and two of its U.S. affiliates, Lonestar Dream Inc. and Lonestar Taproot LLC, filed the voluntary petitions in the U.S. Bankruptcy Court for the District of New Jersey on July 22, 2026.

Court documents show the company faces liabilities estimated between $100 million and $500 million, with assets valued between $1 million and $10 million. A declaration by Chief Restructuring Officer Michael DuFrayne states the prepetition obligations total approximately $173.1 million. The vast majority of that debt, about $163.7 million, consists of unsecured IOUs issued to customers of its Poolin Wallet service after the company suspended withdrawals in September 2022 during a cryptocurrency market downturn. The company estimates it has between 10,001 and 25,000 creditors.

As part of the proceedings, Poolin is seeking court approval to sell its two West Texas mining facilities through a supervised auction. The company has secured a combined "stalking-horse" bid of $52 million from...