Overview
- Poolin Technology and its U.S. affiliates Lonestar Dream Inc. and Lonestar Taproot LLC filed voluntary Chapter 11 in New Jersey on July 22, 2026 to pursue an orderly wind-down of remaining assets.
- The debtors reported about $173.1 million in prepetition obligations, of which roughly $163.7 million are unsecured IOUs owed to about 11,700 Poolin Wallet customers after withdrawals were frozen in 2022.
- Poolin shut mining and hosting at its Pyote and Tarbush Texas sites on July 10 and has a combined stalking-horse opening bid of $52 million from Thor CALAP LLC split as $15 million for Pyote and $37 million for Tarbush.
- Recoveries for unsecured wallet creditors are uncertain because sale proceeds must first satisfy secured liens, administrative expenses, intercompany claims and court-approved priorities before any distributions.
- The case highlights how powered land and grid connections built for mining now attract AI and high-performance computing buyers, a trend that could raise asset prices but does not directly resolve frozen customer claims.