Poolin Files Chapter 11 As Bitcoin Miner Moves Toward $52M Asset Sale
Poolin Technology has filed for Chapter 11 bankruptcy protection, setting up an orderly wind-down and asset sale process tied to its West Texas mining operations.
The filing was made on July 22, 2026, in the US Bankruptcy Court for the District of New Jersey under Case No. 26-18325. Poolin Technology PTE. Ltd. and its US affiliates, Lonestar Dream Inc. and Lonestar Taproot LLC, are listed in the case.
The filing details a $52 million stalking-horse bid from Thor CALAP LLC for the company’s Pyote and Tarbush mining sites in West Texas. Poolin’s prepetition liabilities stand at $173.1 million, including $163.7 million in unsecured IOUs owed to roughly 11,700 Poolin Wallet users after withdrawals were frozen in 2022.
That last detail is the real weight of the story.
This is not just a mining-asset sale. It is another reminder that the damage from the last cycle’s freezes, failures, and stranded user balances is still working through courts years later.
TL;DR
- Poolin Technology and affiliates filed for Chapter 11 on July 22.
- The case includes a proposed $52 million stalking-horse sale for West Texas mining sites.
- The company lists $163.7 million in unsecured IOUs owed to around 11,700 Poolin Wallet users.
Poolin’s Mining Assets Are Only Part Of The Story
Bitcoin mining bankruptcies are often discussed through the lens of equipment, energy costs, debt, and hashrate.
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