Odaily Planet News: Bitcoin mining company NFN8 Group announced that it has filed for Chapter 11 bankruptcy protection in Texas, U.S. on February 2, and plans to sell all its assets under court supervision. The documents show that NFN8 has been under continuous cash flow pressure due to a fire at its core mining facility, lease pressure from the sale-leaseback model, and the hashprice dropping to a historical low after the Bitcoin halving. The company disclosed that it operates multiple mining facilities in Texas Crystal City and Iowa, with more than 5,000 self-owned mining machines. NFN8 expects its asset size to be below $50,000, with liabilities of approximately $1 million to $10 million. (TheMinermag)
Bitcoin Mining Firm NFN8 Files for Bankruptcy Protection, Seeks Asset Sale
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Summary
Bitcoin news broke as NFN8 Group filed for Chapter 11 bankruptcy in Texas on February 2, 2026, and is now seeking asset sales under court supervision. The firm cited a fire at a core mining facility, lease pressure from a sale-leaseback model, and a post-halving Bitcoin analysis showing hashprice at historic lows as key factors. NFN8 operates mining sites in Texas and Iowa, with over 5,000 in-house machines. The company estimates assets under $50,000 and liabilities between $1 million and $10 million.
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