Poolin, a Singapore‑based bitcoin mining pool, filed for Chapter 11 protection in New Jersey on July 22, with liabilities of about $173 million, TheEnergyMag reported. The pool once held 18‑20 % of global hashrate in 2019 but its share has been near zero for several years. Liquidity problems surfaced in 2022, causing withdrawal delays and the issuance of $163.7 million in IOU tokens to roughly 11,700 customers in September 2022, according to a WeChat post by co‑founder Kevin Pan. Pan said user funds were safe while acknowledging liquidity problems. A $52 million bid from Thor CALAP LLC for two West Texas mining sites, representing most of the company’s assets, is the only recovery proposal for creditors, the report said. The filing includes its U.S. affiliates Lonestar Dream and Lonestar Taproot, which together list estimated liabilities between $100 million and $500 million. Poolin did not respond to CoinDesk’s request for comment. The ultimate outcome remains uncertain as creditors assess the bid and the remaining assets.