PANews reported on February 9th that, according to documents disclosed by the U.S. Bankruptcy Court for the Western District of Texas, Bitcoin mining company NFN8 Group and its subsidiaries have filed for Chapter 11 bankruptcy protection and are seeking to sell all of their assets. The main reasons for NFN8's bankruptcy include: market volatility following the Bitcoin halving, ongoing litigation costs, and a catastrophic fire in late 2025 that reduced the mining capacity of its main facilities by 50%. NFN8 has already secured $2.75 million in debtor-held assets (DIP) financing from Twelve Bridge Capital to support its operations.