Bitcoin Miner Creditors Claim $13.6M in BlockFills Bankruptcy
Crypto trading and liquidity provider BlockFills has filed for Chapter 11 bankruptcy protection, listing between $100 million and $500 million in both assets and liabilities.
According to court documents filed on Sunday, entities tied to the bitcoin mining sector hold at least $13.6 million in unsecured claims against the company, including Simple Mining, Bitfarms and Ashton Soniat, a co-founder of bitcoin mining firm Coinmint.
The bankruptcy petition, filed March 15, comes weeks after TheEnergyMag first reported that BlockFills had suspended customer withdrawals, signaling mounting financial strain at the institutional trading firm.
Among the mining-linked creditors, Soniat is owed about $5.65 million via Dorado Family Holdings LP. Backbone Hosting Solutions Inc., which lists a contact domain associated with Bitfarms, holds a claim of approximately $4.22 million. Simple Mining LLC, tied to the SimpleMining.io mining management platform, is listed with an unsecured claim of roughly $3.73 million.
The filing lists 30 of the company’s largest unsecured creditors. The biggest claim belongs to 007 Capital LLC at roughly $17.1 million, followed by the Richard E. Ward Revocable Trust with about $9.4 million and Artha Investment Partners LLC with approximately $6.9 million. Japan-based crypto exchange operator SBI VC Trade Co. Ltd. is also listed with a claim of about $6.27 million.
Court documents also outline a diverse shareholder base that includes several crypto-industry investors and venture firms. Among the equity holders are K&H Crypto LLC with a 17% stake and P3K LLC with 9%. Other notable investors include Susquehanna Private Equity Investments LLLP, CME Ventures, Nexo Inc., Gate Information Pte Ltd., and Simplex Holdings LLC. Roughly 8% of the company’s equity is held by about 50 smaller investors, including employees and directors, each owning less than 1%.
The debtor estimates assets in the range of $50 million to $100 million and liabilities in the range of $100 million to $500 million, placing the case among the larger crypto-sector bankruptcy filings so far this year.
BlockFills has been an over-the-counter digital asset trading and liquidity provider serving institutional clients, including hedge funds, miners and exchanges. The company’s financial distress underscores ongoing pressures in parts of the crypto trading and infrastructure ecosystem, where tightening liquidity and volatile market conditions have strained firms with large counterparty exposures.
