Bitcoin (CRYPTO: $BTC) mining operator Poolin Technology has filed for Chapter 11 bankruptcy.

The Singapore-based company, which operated a Bitcoin mining pool, sought protection from its creditors in a New Jersey court. 

A Bitcoin mining pool is a group of cryptocurrency miners who combine their computer processing power to increase their chances of minting new BTC. 

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In its bankruptcy filing, Poolin listed assets of between $1 million U.S. and $10 million U.S. and liabilities of as much as $500 million U.S. 

The petition estimates that the company has between 10,001 and 25,000 creditors.

Poolin…