Odaily Planet Daily News Bitcoin mining company Rhodium Enterprises co-CEO Nathan Nichols has resigned, and the company has completed the sale of its Temple, Texas, mine for $40.6 million in cash. Rhodium announced in an email to investors last week that Nichols has decided to resign, effective after the New Year. Just weeks ago, Rhodium creditors filed a lawsuit against him and other co-founders, accusing them of fraud. Rhodium also informed investors that the company had previously secured $15 million of a $30 million debtor-in-possession financing from Galaxy Digital. After completing the sale of the Temple mine on December 18, the company used $16 million of that to fully repay Galaxy's debt, including fees and interest. Additionally, Rhodium stated in a press release last Friday that the company is prepared to resume the hosting contract for miners at the Riot Rockdale facility, after claiming a legal victory against the host. Rhodium's miners are mainly hosted at Riot's Whinstone facility in Rockdale, Texas, with the remainder hosted at its proprietary Temple facility. Rhodium filed for Chapter 11 bankruptcy protection in August due to significant impacts on its mining operations from deteriorating relations with Riot since 2023, defaulting on loans to investors. The bankruptcy court later approved the auction of Rhodium's Bitcoin mining assets at the Temple facility. Earlier in August, news emerged that bitcoin mining company Rhodium Enterprises voluntarily filed for bankruptcy under Chapter 11 in the U.S. Bankruptcy Court for the Southern District of Texas, disclosing debts of up to $100 million. The filing, submitted on August 24, includes six subsidiaries: Rhodium Encore, Jordan HPC, Rhodium JV, Rhodium 2.0, Rhodium 10MW, and Rhodium 30MW. The documents show that the company's debts range from $50 million to $100 million, while its total assets are estimated to be between $100 million and $500 million.