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Seeking Alpha 2021-10-29 21:11:16

Bitcoin-mining firm Rhodium Enterprises files for IPO at $100M placeholder value

Bitcoin-mining firm Rhodium Enterprises files for IPO at $100M placeholder value

Bitcoin-mining firm Rhodium Enterprises (RHDM) has filed for an IPO at a placeholder $100M. Rhodium wrote in an S-1 filing with the U.S. Securities and Exchange Commission that it aims to sell an unspecified number of Class A shares to the public, listing on the Nasdaq under the ticker symbol “RHDM.” The company provided few additional details other than to say it also plans to have Class B shares for insiders who will hold a commanded share of RHDM’s voting power. The firm added that it plans to use the offering’s proceeds to buy out pre-IPO investment units, construct new Bitcoin-mining sites and purchase other crypto-mining operations. Founded in April 2020, Rhodium (RHDM) currently operates one Bitcoin-mining site in Texas and aims to develop more in the future. The firm wrote in its S-1 that it uses “proprietary liquid-cooling technology” to mine Bitcoin in a more ecofriendly way. “We are dedicated

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