Rhodium Prepares for $1.7 Billion IPO
Rhodium Enterprises has filed with the U.S. Securities and Exchange Commission (SEC) for an initial public offering on Jan. 13. This will be the cryptocurrency company's first IPO in 2022.
Rhodium plans to issue 7.69 million shares at $12-14 each, the filing said. Under the ticker symbol RHDM on Nasdaq, the company will issue 56.8 million Class A shares and 67.5 million Class B shares for a total of $1.7 billion.
Rhodium Enterprises is a mining company with production facilities in U.S. Texas that uses its own proprietary technology to mine bitcoin. Rhodium is set to become the most stable and profitable mining company in the United States. If the IPO is successful, the company will be able to compete with such industry giants as Bitdeer Technologies, Bit Digital, Marathon and Riot Blockchain.
