Bitwise Industries has filed for Chapter 7 bankruptcy protection in Delaware. Photo by Ben Hensley

Bitwise Industries filed an anticipated petition for Chapter 7 bankruptcy Wednesday, reporting total financial liabilities of $252.03 million.

The liquidation bankruptcy filing was made in federal bankruptcy court in Delaware, where BW Industries is incorporated.

The filing includes a 17-page list of all of the creditors of Bitwise Industries that includes the names of employees who are owed back wages. The so-called creditor matrix has more than 1,000 entries that also include local entities such as Agficient Inc. in Kingsburg, Central California Food Bank in Fresno, Central Valley Community Foundation and Fresno Chaffee Zoo

Of the total liabilities, $12.7 million is secured by property, $87,760 represents priority unsecured claims and $239.24 million is for nonpriority unsecured claims.

Bitwise reported $175.51 million in assets, including $635 in cash on hand, a $167,325 certificate of deposit with Central Valley Community Bank and a standby letter of credit with US Bank in the amount of $140,250.

It listed $23,432 in accounts receivable owed to the business.

Also listed in assets was a $631,432 loan to Arlanwashere LLC, a Los Angeles-based limited liability corporation in the “consulting and investment” business with Arlan Hamilton as CEO, according to a filing with the California Secretary of State. Hamilton is the founder of Backstage Capital, an investment fund.

Bitwise debts secured by property included $6.17 million from 1861 Acquisition LLC in Greenwich, Connecticut; $2.49 million with Greenline CDF Subfund XXXVI LLC in Denver, Colorado; $1.02 million to GZ Impact Fund I, L.P. in Denver; and $3 million with Sobrato Family Foundation in Mountain View.

It also owes undetermined amounts of taxes in Alabama, Florida, Hawaii, Indiana, Nevada, New York, Ohio, Texas, Virginia, Washington and Wyoming, according to court documents.

Five affiliated debtor entities were included in the filing, including BW Industries, Inc.; Bitwise Industries, Inc.; BWRD, LLC; Alpha Works Technologies, LLC; and Bruce’s Bagels, Beverages, and Bites, LLC.

Bitwise is represented by Wilmington, Delaware-based law firm Chipman Brown Cicero & Cole, LLP, in its bankruptcy proceeding, which was paid $100,000 for services rendered.

A message left for Chipman was not returned Thursday morning.

The bankruptcy trustee assigned to help handle Bitwise’s assets is Jeoffrey Burtch.

A creditor meeting is scheduled for Aug. 3 in Delaware.