Poolin files for Chapter 11 bankruptcy, sells two West Texas mining sites for $52 million to repay debts.
Poolin ran out of liquidity starting in 2022. The market dropped sharply, and rising energy prices caused cash-flow bottlenecks. The mining pool lost hashrate as users withdrew. A plan to issue IOU tokens failed due to insufficient liquidity.
Court filings record 1,000 to 5,000 creditors. Estimated debt is $50 million to $100 million. Poolin sold assets in Texas for $52 million to settle debt obligations.
The collapse of the large mining pool increases pressure to sell BTC directly. The global hashrate map is reshaped. Selling pressure from miners rises quickly.
Traders should monitor outflows from miners’ wallets. Avoid high-leverage trading during volatility. Maintain strict risk management. DYOR.
#BTC #PhapLy #DauTu #Poolin
Poolin ran out of liquidity starting in 2022. The market dropped sharply, and rising energy prices caused cash-flow bottlenecks. The mining pool lost hashrate as users withdrew. A plan to issue IOU tokens failed due to insufficient liquidity.
Court filings record 1,000 to 5,000 creditors. Estimated debt is $50 million to $100 million. Poolin sold assets in Texas for $52 million to settle debt obligations.
The collapse of the large mining pool increases pressure to sell BTC directly. The global hashrate map is reshaped. Selling pressure from miners rises quickly.
Traders should monitor outflows from miners’ wallets. Avoid high-leverage trading during volatility. Maintain strict risk management. DYOR.
#BTC #PhapLy #DauTu #Poolin