Name Price24H (%)
Bitcoin (BTC)
$20,860.00
3.65%
Ethereum (ETH)
$1,220.73
7.69%
BNB (BNB)
$241.79
2.25%
Cardano (ADA)
$0.471121
3.27%
Bitcoin Miner Rhodium’s Planned IPO Values It at Up to $796M...
News

Bitcoin Miner Rhodium’s Planned IPO Values It at Up to $796M

Bitcoin miner Rhodium Enterprises plans to offer 7.69 million shares at $12-$14 each in an initial public offering (IPO), according to its U.S. Securities and Exchange Commission (SEC) filing.



  • After the IPO, the company will have about 56.8 million class A shares outstanding, implying a market cap of between $682 million to $796 million.
  • The company will use proceeds from the IPO to repay its outstanding debt and accrued interest under its bridge loan, totaling approximately $31 million as of Sept. 30. Rhodium will also use the funds to build new sites and for general corporate purposes, including the purchase of mining machines.
  • The company will trade under the ticker RHDM on Nasdaq.
  • As of Dec. 31, Rhodium had about 125 megawatts (MW) of mining power capacity at its Texas site, which is able to run more than 33,600 miners with a total combined hash rate capacity of approximately 2.7 exahash per second.
  • On Oct. 29, Rhodium said it plans to raise up to $100 million in an IPO and said it expects to use its liquid-cooling technology to mine bitcoin more efficiently.

Source: CoinDesk.com

Newsletter

Sign up to receive awesome content in your inbox, every day.

We don’t spam!

coinmag

Cryptocurrency news, blockchain news, markets news, cryptocurrency analysis, cryptocurrencies prices.