BlockFi company, whose bankruptcy court is pending, received approval from trial judge Michael Kaplan for the sale of mining equipment and assets. Company lawyer Francis Petrie said in a statement on the subject that companies interested in equipment can submit bids until February 20. The auction will start one week after the bids are placed.
However, BlockFi will have to get one more court approval for the sales. Equipment and assets that are not priced as expected will continue to be included in the bankruptcy proceedings.
BlockFi wants to take advantage of the increases in the prices of equipment, which has become even more valuable with the recent rises in cryptocurrencies.
As it will be remembered, the company announced last week that it had put up 160 million dollars of loan debt secured by Bitcoin mining equipment. After filing for bankruptcy in November, the firm sold $239 million in cryptocurrencies.
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