BlockFi’s crypto mining assets could begin selling after the bankruptcy hearing, according to a proposal filed with the bankruptcy court on Monday, with bidders having to submit bids by Feb. 20 and an auction to be held next week.
BlockFi's lawyers told the court that the sale would be the first in a series of potential auctions. The lawyers mentioned 35 potential counterparties in a legal document on January 9. Francis Petrie, a partner at Kirkland & Ellis law firm, said, "We have received strong interest in certain asset packages from the market, and we expect to receive more bids in the future. Given the actual situation of the debtor and the current volatility in the cryptocurrency market, we need to act quickly to protect the value of our assets." (CoinDesk)
