The bankruptcy court agreed to BlockFi selling its cryptocurrency mining assets to repay creditors

ChainCatcher news, according to Cointelegraph, a court document submitted to the bankruptcy court in New Jersey states that BlockFi has been approved to sell its cryptocurrency mining equipment as part of repaying creditors, on the grounds that it is "fair, reasonable, and appropriate under the circumstances." The court indicated that selling the assets could maximize the company's recovery and "realizable value."

It is reported that documents for "all qualified bids" must be sent to the parties specified in the bidding process by the deadline of February 20. Bids must be submitted to the court by March 2, and creditor representatives must oppose the sale of assets to qualified bidders by March 16. (Cointelegraph)