Bitcoin Miner Rhodium’s Planned IPO Values It at Up to $796M

Bitcoin miner Rhodium Enterprises plans to offer 7.69 million shares at $12-$14 each in an initial public offering (IPO), according to its U.S. Securities and Exchange Commission (SEC) filing. After the IPO, the company will have about 56.8 million class A shares outstanding, implying a market cap of between $682 million to $796 million. The company will use proceeds from the IPO to repay its outstanding debt and accrued interest under its bridge loan, totaling approximately $31 million as of Sept. 30. Rhodium will also use the funds to build…