Poolin Sets September Auction for $52M Bitcoin Mining Asset Sale

TLDR

• Poolin schedules a September 10 auction for its remaining Bitcoin mining assets.

• A $52 million stalking horse bid sets the floor for Poolin’s planned asset sale.

• Qualified bids are due September 8 before the possible September 10 auction.

• Poolin owes about $163.7 million to roughly 11,700 former wallet customers.

• Creditors must object by September 16 or lose the right to challenge the sale.

Poolin will move toward a September auction for its remaining Bitcoin mining assets under a New Jersey bankruptcy process. The court scheduled qualified bids for September 8, followed by a possible auction on September 10. A $52 million stalking horse offer currently sets the minimum value for the proposed asset sale.

Poolin Sets September 10 Auction Under Chapter 11

The US Bankruptcy Court for the District of New Jersey approved Poolin’s bidding procedures on August 17. Judge Eamonn J. O’Hagan authorized a sale process covering substantially all remaining assets. Poolin then filed its formal auction notice with the court on August 19.

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