Bitcoin miner files Chapter 11 after unfortunate fire

Group 1: Bankruptcy Causes - Pacific Gas & Electric (PG&E) filed for Chapter 11 in January 2019 due to liabilities from California wildfires, notably the Camp Fire [1] - J.C. Penney cited Hurricane Harvey damage as a contributing factor to its 2020 bankruptcy, alongside debt and declining sales [2] - Natural disasters often act as accelerants to financial distress rather than being the sole cause of bankruptcies [3] Group 2: Bitcoin Mining Industry - Bankruptcies in Bitcoin mining are frequently attributed to falling hashprice and compressed margins [4] - NFN8 Group Inc. filed for Chapter 11 bankruptcy protection due to a fire at a facility and ongoing financial strain from lease obligations and litigation [6] - The company's distress is described as a result of market dislocation following the April 2024 Bitcoin halving, expensive litigation, and a catastrophic fire [7]