Singapore-based Bitcoin mining pool Poolin and two of its U.S. affiliates filed for Chapter 11 bankruptcy in a New Jersey court on Wednesday. The filing lists liabilities of $100 million to $500 million, assets of $1 million to $10 million, and 10,001 to 25,000 creditors. Poolin was the world’s largest Bitcoin mining pool in 2019 and now ranks 17th by hashrate with a 0.2% market share, according to the Hashrate Index. The company is seeking court approval to sell its West Texas mining sites to Thor CALAP LLC under a proposed $52 million stalking‑horse bid, which includes $37 million for the Tarbush assets with assumed liabilities and $15 million for the Pyote site covering power rights, equipment and other assets. A court‑supervised auction is planned with a bid deadline of September 8. The mining sector has faced growing financial strain due to rising electricity costs. In February, NFN8 Group and two affiliates filed for Chapter 11 in Texas, and in November 2025 Bitfarms announced a wind‑down of its Bitcoin mining operations to focus on AI and high‑performance computing data centers. Hut 8 and IREN disclosed significant AI infrastructure deals, and MARA Holdings announced plans to acquire a Texas site with up to 2 gigawatts of capacity for AI and digital infrastructure expansion. The bankruptcy case and the pending sale of the Texas sites remain subject to court review, and the impact on the broader Bitcoin mining industry is still uncertain.