A U.S. bankruptcy court in New Jersey has approved a new auction for crypto miner Poolin’s mining assets in Texas, with the sale scheduled for Oct. 2. An affiliated company of Hut 8 will remain the stalking horse bidder, and the total deal value can reach as much as $180 million. Poolin’s U.S. entity filed for Chapter 11 bankruptcy protection in July this year. Before the filing, its liabilities stood at about $173.1 million, including roughly $163.7 million in unsecured IOUs issued to wallet users after withdrawals were suspended in 2022. The update was published by Techub News and cited Wu Blockchain.
A U.S. bankruptcy court in New Jersey has approved a new auction for crypto miner Poolin’s mining assets in Texas, with the auction set for Oct. 2.
An affiliated company of Hut 8 will continue to serve as the stalking horse bidder. The transaction’s total consideration can reach up to $180 million.
Poolin’s U.S. entity filed for Chapter 11 bankruptcy protection in July this year. Before the bankruptcy filing, the company had about $173.1 million in liabilities, including around $163.7 million in unsecured IOUs issued to wallet users after withdrawals were suspended in 2022.
The update was published by Techub News and cited Wu Blockchain.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
