Bitcoin mining company NFN8 Group announced that it filed for Chapter 11 bankruptcy protection in Texas on February 2nd, planning to sell all its assets under court supervision. The filing shows that NFN8's operating cash flow has been under continuous pressure due to a fire at its core mining farm, leasing pressure from its sale-leaseback model, and the historically low hashprice following the Bitcoin halving. The company disclosed that it operates multiple mining farms in Crystal City, Texas, and Iowa, owning over 5,000 mining rigs. NFN8's estimated assets are less than $50,000, with liabilities of approximately $1 million to $10 million. (TheMinermag)