Bitcoin Miner Rhodium’s Deliberate IPO Values It at As much as $1.7B

Bitcoin miner Rhodium Enterprises plans to supply 7.69 million shares at $12-$14 every in an preliminary public providing (IPO), in response to its U.S. Securities and Trade Fee (SEC) filing.

  • After the IPO, the corporate could have about 56.8 million class A and 67.5 million class B shares excellent, implying a market cap of between $1.49 billion to $1.74 billion.
  • The corporate will use proceeds from the IPO to repay its excellent debt and accrued curiosity below its bridge mortgage, totaling roughly $31 million as of Sept. 30. Rhodium will even use the funds to construct new websites and for common company functions, together with the acquisition of mining machines.
  • The corporate will commerce below the ticker RHDM on Nasdaq.
  • As of Dec. 31, Rhodium had about 125 megawatts (MW) of mining energy capability at its Texas website, which is ready to run greater than 33,600 miners with a complete mixed hash fee capability of roughly 2.7 exahash per second.
  • On Oct. 29, Rhodium mentioned it plans to lift as much as $100 million in an IPO and mentioned it expects to make use of its liquid-cooling expertise to mine bitcoin extra effectively.

CORRECTION (Jan. 13, 22:54 UTC): Corrects market capitalization to incorporate class B shares.

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