2 years ago
Bitcoin miner Rhodium Enterprises plans to connection 7.69 cardinal shares astatine $12-$14 each successful an archetypal nationalist offering (IPO), according to its U.S. Securities and Exchange Commission (SEC) filing.
After the IPO, the institution volition person astir 56.8 cardinal people A shares outstanding, implying a marketplace headdress of betwixt $682 cardinal to $796 million.
The institution volition usage proceeds from the IPO to repay its outstanding indebtedness and accrued involvement nether its span loan, totaling astir $31 cardinal arsenic of Sept. 30. Rhodium volition besides usage the funds to physique caller sites and for wide firm purposes, including the acquisition of mining machines.
The institution volition commercialized nether the ticker RHDM connected Nasdaq.
As of Dec. 31, Rhodium had astir 125 megawatts (MW) of mining powerfulness capableness astatine its Texas site, which is capable to tally much than 33,600 miners with a full combined hash complaint capableness of astir 2.7 exahash per second.
Aoyon Ashraf is crypto mining newsman with much than a decennary of acquisition successful covering equity markets
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