Rhodium Enterprises mining company is about to attract $100 M through IPO

Author: Iskander Ziyanurov
02.11.2021

Rhodium Enterprises, a mining company from Delaware, sent an application to the Securities and Exchange Commission to run an IPO. The company is going to enter the Nasdaq exchange under the ticker RHDM.

The mining company appeared in September 2020. Based on Q1 and Q2 reports of 2021, Rhodium Enterprises got a net profit of $14.9 million, while the overall profit reached $48.2 M.

The application sent to the SEC outlines that the company took out a patent for the liquid cooling system that enlarges miners' serving terms by 30-50%.

As of today, Rhodium Electronics uses 22 600 ASIC miners that consume 80 MW in total. The overall hashrate of this mining pool is 1.8 EH/s. By April 2022, the company is about to run one more mining center to enhance its capacity.

Rhodium Electronics expects to get $100 million from investors to increase the total pool's power by 45 MW and reach the hashrate of 2.7 EH/s.

AntPool, F2Pool, and ViaBTC are three mining pools that lead the ranking. The pool powered by Rhodium Enterprises is ranked at the 14th position. IPO may boost the business rapidly, opening new horizons; meanwhile, the SEC is still exceptionally severe for all products related to digital assets.

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