According to MinerMag, Poolin founder Pan Zhibiao sold his Texas-based Bitcoin mining and hosting company "Lonestar Dream" to China Green Agriculture (CGA) for US$49 million. CGA is a NYSE listed company, mainly engaged in humic acid-based compound fertilizers, with a market value of US$40 million. CGA said a down payment of $2.45 million is due at closing, with $44.1 million payable within 90 business days thereafter, subject to certain conditions being met. The remaining $2.45 million will be paid within 20 days after Lonestar's auditors complete a 2023 financial audit. It is unclear whether Pan Zhibiao will use proceeds from the sale to address liquidity issues at Poolin, which has suspended cryptocurrency withdrawals since September 2022.
