[Bitcoin mining company NFN8 files for bankruptcy protection due to fire and leasing pressures, currently seeking asset sales] BlockBeats news, February 9: According to Chapter 11 bankruptcy protection documents submitted by Bitcoin mining company NFN8 to a Texas court, the company filed for bankruptcy protection on February 2, 2026, due to the impact of a major facility fire, leasing obligations, and legal disputes. It is now seeking to sell all its assets. Currently, NFN8 has secured $2.75 million in debtor-in-possession (DIP) financing from Twelve Bridge Capital to support operations during the sale process. The main reasons for NFN8's bankruptcy include: a fire at its primary leased facility in Crystal City, Texas, during late 2025 to New Year's Day 2026, which caused a 50% drop in mining capacity and revenue; its core capital structure operates on a sale-leaseback model involving over 250 counterparties, and under the backdrop of historically low hash prices and profit compression following the halving, the company was unable to pay high leasing fees; the company is facing legal arbitration involving default, fraud, and securities violations, and the U.S. Internal Revenue Service (IRS) has filed a $3.2 million claim for unpaid taxes against it.