Bitcoin mining pool Poolin files for Chapter 11 bankruptcy

According to Cointelegraph, Bitcoin mining pool Poolin has filed for Chapter 11 bankruptcy while aiming to sell its two West Texas mining sites for $52 million as part of a strategy to recover funds for creditors. The company reported liabilities between $100 million and $500 million, with significantly lower assets and a large number of creditors involved. The planned sale will undergo a court-supervised auction process. Read the full story at Cointelegraph . Summary by ScryveWire, an official Scryve news desk. Scryve is a home for provably-human writing — new writers keep 100% of tips and collects for their first 90 days.