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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Riot Platforms, a company that mined cryptocurrencies and was previously known as Riot Blockchain, has filed a lawsuit against Rhodium Enterprises, a bitcoin miner headquartered in Texas. It attempts to collect more than $26 million in allegedly
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Crypto mining firm Riot Platforms – formerly Riot Blockchain – is seeking to recover “more than $26 million” in alleged unpaid fees from Texas-based Bitcoin (BTC) miner, Rhodian Enterprises, according to its Q1 2023 report.Published on May 10, Riot's Q1 2023 financial report stated that Whinstone – a wholly owned subsidiary of
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Riot claims that Rhodium "deliberately miscalculated" how much in hosting fees it had to pay for Riot's hosting services. The two were supposed to share the net revenue from Rhodium's mining at the Whinstone facilities, said the lawsuit, which further alleged that the Rhodium entities short-changed Whinstone for $26 million
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Rhodium postponed a $1.7 billion IPO back in January. Source
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The first IPO for the crypto industry in 2022 comes from a Texas-based Bitcoin (BTC) mining company, Rhodium Enterprises.In an SEC filing made last week, Rhodium plans to offer 7.69 million shares at $12-$14 each in an initial public offering (IPO). Trading under the ticker “RHDM” on Nasdaq, 56.8 million
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The Delaware-based company, which started mining in September 2020, will trade under the ticker RHDM. The miner generated revenue, net income and adjusted EBITDA of $48.2 million, $14.9 million and $40.9 million, respectively, during the six months ended June 30, according to the filing. Source
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