BlockBeats news, on December 30, according to TheMinerMag, mining company Rhodium announced that Nichols has decided to resign from his position as co-CEO, effective after the New Year.
Rhodium filed for Chapter 11 bankruptcy protection in August, as deteriorating relations with Riot since 2023 severely impacted its mining operations, leading to its failure to repay loans owed to investors. Subsequently, the bankruptcy court approved the auction of Rhodium's bitcoin mining assets at the Temple site.
According to a court update on November 26, Rhodium's landlord at the Temple site, Temple Green Data LLC, won a bid to purchase its power agreements and infrastructure for $40.6 million in cash. This includes a purchase price of $35 million and a return of $5.6 million in deposits.
