Cryptominer NFN8 Files for Bankruptcy after Data Center Fire and Bitcoin Slump

Cryptominer NFN8 Group has filed for bankruptcy protection in Texas, with all of its assets put up for sale. The company pointed to a number of business challenges that had put pressure on its revenue line, but blamed a late 2025 data center fire for causing bankruptcy.

"For lessors whose miners remained operational at non-Core Scientific sites, NFN8 continued both operations and lease payments. For lessors whose miners were stranded, NFN8 provided notice and temporarily suspended payments absent objection. For any lessor that objected, payments continued."

While this was cut to block rewards was long known, price recovery took longer than previous cycles or NFN8's expectations. "By June 2024, it became clear that mining revenues were insufficient to fund lease obligations, operating expenses, and capital expenditures simultaneously," White said.