poolin

According to court documents, the Bitcoin mining company Hut 8 has made a bid of $140 million to become the winning bidder for the two data center sites of the bankrupt mining company Poolin located in Texas. The bid includes cash and other considerations, covering Poolin's Pyote and Tarbush sites. The transaction must be approved by the bankruptcy court in New Jersey before it can be completed, with a sale hearing scheduled for September 29.Hut 8's bid is nearly three times the initial bid of $52 million from Thor CALAP, which offered $15 million for the Pyote site and $37 million for the Tarbush site. Additionally, DigiPower X bid $36.5 million for Pyote, while Pecos Industrial Development, designated by the AI infrastructure company Fluidstack, bid $100.5 million for Tarbush. Poolin and its two U.S. affiliates filed for Chapter 11 bankruptcy protection in July after shutting down mining and hosting operations at the Texas sites. Court documents indicate that its debts amount to approximately $173.1 million, of which about $163.7 million are unsecured promissory notes owed to Poolin Wallet users after withdrawals were frozen in 2022.This acquisition will further expand Hut 8's data center footprint. The former Bitcoin mining company is deeply investing in AI infrastructure, with its second-quarter financial report released in August showing a development pipeline of approximately 8.7 gigawatts, an increase of about 300 megawatts quarter-over-quarter.

According to the case information page of Verita Global, the cryptocurrency mining pool operator Poolin Technology PTE. LTD and its affiliated entities Lonestar Taproot LLC and Lonestar Dream, Inc. filed for bankruptcy protection under Chapter 11 of the United States Bankruptcy Code on July 22, 2026, in the Federal Bankruptcy Court of New Jersey, with the case presided over by Judge Eamonn J. O'Hagan, and the joint administration case number is 26-18325.In terms of important milestones, the creditors' meeting was held on August 28, the bidding deadline is September 8, and the asset sale hearing is scheduled for September 18. The debtor's legal representation is provided by Archer & Greiner, P.C., and creditors can submit proof of claim to the claims processing center located in El Segundo, California, KCC dba Verita Global by mail.

According to the expected plan compiled by the Korea Digital Convergence Industry Association, the secondary regulations for Security Token Offerings (STO) in South Korea may include: allowing "pooling" issuance of similar types of underlying assets, setting over-the-counter trading limits for general investors, clarifying the licensing conditions and business scope for non-standard securities over-the-counter exchanges, and developing a phased roadmap for the tokenization of standard securities. In addition, the technical and financial requirements for issuer account management institutions are also expected to be included in the regulations.This expected plan is based on publicly available policy directions and industry discussions and is not an official version. Specific standards still need to be determined through legislative announcements, regulatory reviews, and other procedures. Previously, the STO market was primarily focused on single assets; if pooling is allowed, it could promote the issuance of multi-asset composite products such as music copyrights and real estate. The over-the-counter trading limits for general investors are expected to be higher than existing sandbox cases, but the final limits still need to balance investor protection and market liquidity. The status of non-standard securities over-the-counter trading platforms and existing operators, as well as the future path for the tokenization of standard securities (stocks, bonds), will be key focuses moving forward. The industry warns that after the regulations are implemented, the preparation time for related companies' systems and internal controls may be quite urgent.

According to TheMinerMag, the former largest Bitcoin mining pool in the world, Poolin, has applied for Chapter 11 bankruptcy protection in the United States, planning to sell its Texas Bitcoin mining assets for $52 million and cease operations. Poolin and its two U.S. affiliates submitted a voluntary application to the bankruptcy court in New Jersey on July 22, with liabilities of approximately $173 million, of which about $163.7 million is unsecured IOUs issued to Poolin wallet users after withdrawals were suspended during the downturn of the crypto market in 2022.Approximately 11,700 wallet users hold balances of over $100. Its two Texas mining sites ceased mining and hosting operations on July 10. Poolin has reached an asset purchase agreement with Thor CALAP LLC, with the Pyote site valued at $15 million and the Tarbush site’s power rights and equipment valued at $37 million, making a total bid of $52 million as the starting bid. Poolin stated that demand for AI infrastructure may increase the value of the mining site’s power and equipment. The final recovery amount from the court auction will depend on bids, fees, and court approval.

ChainCatcher news, according to Decrypt, the manufacturer of The Rideshare Protocol (TRIP), DEC, has raised $9 million in seed funding, led by Steve Vassallo of Foundation Capital and Thomas Bailey of Road Capital, with participation from former Uber New York general manager Josh Mohrer. The funds will be used to further develop Teleport, which is supported by DEC's TRIP protocol. The application for Teleport is expected to launch by the end of the fourth quarter of this year. (source link)

Chain Catcher news, due to liquidity issues, the Bitcoin mining pool Poolin's wallet service PoolinWallet has suspended all withdrawal services, lightning transactions, and internal transfers starting Monday. On Sunday, the company's CEO and founder Kevin Pan stated that Poolin is facing liquidity problems but assured users that their assets are safe.The official statement indicated that a "feasible" solution would be provided within a week, which may include debt. On Monday, in another article on the Poolin website, the company announced that starting from September 8, it would waive mining fees for Bitcoin and Ethereum until December 7, and for users with more than 1 BTC or 5 ETH in their pool balance, it would waive fees for 12 months or in the pool account. (CoinDesk)