Bankruptcy BlockFi’s Bitcoin Mining Assets Received Sale Approval

Bankrupt crypto lending platform BlockFi has received approval from the bankruptcy court to sell Bitcoin (BTC) mining assets.

by the U.S. District of New Jersey Bankruptcy Court given on January 30 In a decision, BlockFi, which is in the process of bankruptcy, Bitcoin mining assets approved for sale. In the document submitted by the court, all qualified bids February 20 deadline until It was stated that it should be sent to the parties specified in the tender procedures. Most of the said assets Equipment used in bitcoin mining forming.

After the qualified bids in question have been evaluated, An auction until March 2 will be started. The company will return to the court in March for final approval of any settlement proposal that comes out of the auction.

The proposal, which was accepted as part of Chapter 11 bankruptcy proceedings designed to restore funds to creditors, appears to have been the case in recent weeks. Taking advantage of Bitcoin’s rise will be completed quickly.

BlockFi lawyer, who made supportive statements on the subject Francis Petriehis statement at the court hearing also as soon as possible to take advantage of current market conditions He emphasized that he wanted to receive an offer:

We have seen significant market interest for bidding purposes, and the current volatility in the cryptocurrency market means we need to act fast.

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