Poolin BTC Ban Fallout: From 20% of Hashrate to Chapter 11 Bankruptcy
The recent bankruptcy filing of one of the cryptocurrency industry’s oldest mining operators highlights the long-term damage caused by historic regulatory crackdowns. Under pressure following the infamous poolin btc ban linked to China’s 2021 crypto crackdown, the firm has officially entered court-supervised restructuring.
The Legacy of the poolin btc ban and China’s 2021 Crackdown
The downfall of Singapore-based Poolin Technology Pte. Ltd. has culminated in a July 22, 2026 protection petition. Filing for Chapter 11 in the U.S. Bankruptcy Court for the District of New Jersey, the firm brought its US affiliates Lonestar Dream Inc. and Lonestar Taproot LLC into the proceedings. This restructuring marks the ultimate conclusion of operational difficulties that multiplied after Beijing ended crypto mining within Chinese borders in 2021.
At its peak around 2019, the pool controlled a massive 18–20% of the global hashrate. The disruption of the poolin btc ban forced a chaotic physical migration away from Chinese jurisdiction. The pool subsequently watched its hashrate collapse to near zero as it struggled to maintain its place in the global mining ecosystem.
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