Rhodium Enterprises, a Bitcoin mining company, has completed the sale of its mine in Temple, Texas, for $40.6 million in cash. The sale was made to Temple Green Data LLC, a company associated with Rowan Digital Infrastructure. The proceeds from the sale will be used to pay off $16 million in debt owed to Galaxy Digital.
**Sale Details and Debt Repayment**
The sale of the mine was made through an auction, with Temple Green Data LLC emerging as the winner. However, the company did not acquire the Bitcoin mining equipment at the facility. Rhodium Enterprises will use the proceeds from the sale to pay off its debt to Galaxy Digital, which will help to alleviate some of the financial pressure on the company.
**Leadership Changes and Future Plans**
In addition to the sale of the mine, Rhodium Enterprises’ co-CEO Nathan Nichols has announced that he will resign in early 2025. Nichols and his co-founder have previously faced lawsuits from creditors alleging suspected fraud. Despite this, the company plans to restart its mining hosting business at the Riot Rockdale facility. The court has ruled that Rhodium’s hosting contract with Riot’s Whinstone US remains valid, allowing the company to continue operating at the facility.
**Note**
This article is for informational purposes only and does not constitute investment advice.
Source: Panewslab.com
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