Rhodium Enterprises, a fully integrated bitcoin miner using liquid-cooled infrastructure, filed on Friday with the SEC to raise up to $100 million in an initial public offering.
Rhodium strives to create innovative technologies to be the most sustainable and cost-efficient producer of bitcoin in the industry. The cornerstone of the company's infrastructure platform is its proprietary liquid-cooling technology, which it believes presents advantages over traditional air-cooled systems. Rhodium plans to have 100 megawatts of liquid-cooler miners online by December 2021.
The Wilmington, DE-based company was founded in 2021 and booked $53 million in sales for the 12 months ended June 30, 2021. It plans to list on the Nasdaq under the symbol RHDM. Rhodium Enterprises filed confidentially on August 13, 2021. B. Riley Securities is the sole bookrunner on the deal. No pricing terms were disclosed.
