TechFlow reports that on February 9, court documents filed with the U.S. Bankruptcy Court for the Western District of Texas revealed that bitcoin mining company NFN8 Group and its subsidiaries have filed for Chapter 11 bankruptcy protection. The company’s financial crisis stems primarily from three factors: market volatility following the April 2024 bitcoin halving, ongoing litigation expenses, and a catastrophic fire at the end of 2025 that reduced its primary facility’s mining capacity by 50%.
In a statement, NFN8’s Chief Restructuring Officer Erik White noted that the company owns over 5,000 bitcoin mining rigs free of liens and has engaged in sale-leaseback arrangements with more than 250 counterparties. NFN8 has secured $2.75 million in debtor-in-possession (DIP) financing from Twelve Bridge Capital to sustain operations and preserve enterprise value through a court-supervised sale process.
