Rhodium Enterprises, a Bitcoin (BTC) mining firm situated in Texas, will launch the first IPO in the crypto market in 2022.
In an SEC filing last week, Rhodium stated that it intends to issue 7.69 million shares in an initial public offering at a price of USD 12- USD 14 per share (IPO). On Nasdaq, the stock will trade under the symbol “RHDM,” and 56.8 million class A and 67.5 million class B shares will be issued, valuing the firm at slightly under USD 1.7 billion.
Rhodium is a cryptocurrency technology startup that self-mines Bitcoin using unique technologies and liquid cooling technology. Its objective is to be the industry’s most sustainable and cost-effective Bitcoin producer.
According to the filing, Rhodium presently operates 125 megawatts (MW) of mining power capacity at its first Texas facility. There are 33,600 Bitcoin miners active, with a total combined hash rate capacity of around 2.7 EH/s.
Following the IPO and a USD 100 million capital round, it plans to open a second facility in Texas, where it “expects to create 225 MW of additional capacity.” By the end of 2022, the company’s capacity will have more than doubled.
 mining firm situated in Texas, will launch the first IPO in the crypto market in 2022.){kind=link}