According to Odaily Planet Daily, Nathan Nichols, co-CEO of Bitcoin mining company Rhodium Enterprises, has resigned and the company sold the Temple mine in Texas for US$40.6 million in cash.
Rhodium announced in an email to investors that Nichols would resign after the new year, weeks after creditors filed a lawsuit against him and other co-founders alleging fraud.
The company received $15 million of the $30 million financing from Galaxy Digital and used $16 million to repay debt. Rhodium announced the resumption of the mining machine hosting contract for Riot Rockdale facility.
Rhodium filed for Chapter 11 bankruptcy protection in August, disclosing debts of up to $100 million and assets estimated at between $100 million and $500 million.