Poolin bankruptcy filing exposes $500M debt against just $10M in assets
A crypto mining pool that once ranked among the industry’s largest is now working through federal bankruptcy court instead of the blockchain. The Poolin bankruptcy filing became public this week after Poolin Technology PTE. LTD. and two affiliated companies sought Chapter 11 protection in New Jersey, setting off a court-supervised sale process that will determine what, if anything, is left for creditors once the mining equipment and remaining assets change hands.
Key takeaways
- Poolin Technology PTE. LTD., Lonestar Taproot LLC and Lonestar Dream, Inc. filed jointly for Chapter 11 on July 22, 2026, in the U.S. Bankruptcy Court for the District of New Jersey.
- Poolin’s estimated liabilities range from $100 million to $500 million, against assets of just $1 million to $10 million.
- A court-approved bidding process is underway, with an auction possible on September 10, 2026 and a sale hearing set for September 18.
- Poolin previously froze PoolinWallet withdrawals in 2022 and issued six IOU tokens after a liquidity crisis.
- Lonestar Taproot’s mining infrastructure was once tied to a partnership with Bitmain that ended in 2023 after heavy losses.
Poolin’s Chapter 11 Bankruptcy Filing and Court Proceedings
The Poolin bankruptcy filing was submitted on July 22, 2026, placing the company and its two U.S. affiliates under Chapter 11 protection before Judge Eamonn J. O’Hagan in New Jersey. The move gives Poolin breathing room to reorganize its debts while it works toward liquidating assets rather than continuing operations as a going concern.
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