Mining company Rhodium sells Temple Bitcoin mining farm for $40.6 million, co-CEO resigns

PANews reported on December 30 that according to The Miner Mag, Bitcoin mining company Rhodium Enterprises completed the sale of its mine in Temple, Texas for $40.6 million in cash. The company’s co-CEO Nathan Nichols announced that he would resign in early 2025. Previously, the company's creditors had sued it and its co-founders for fraud .

Rhodium said it used proceeds from the sale to repay $16 million in debt it acquired from Galaxy Digital and plans to restart its mining machine hosting operations at its Riot Rockdale facility. The mine auction was won by Temple Green Data LLC, which is associated with Rowan Digital Infrastructure but did not acquire the mine’s Bitcoin mining equipment.

In addition, the court ruled that Rhodium's hosting contract with Riot's Whinstone US remains valid, allowing Rhodium to continue operating at the Rockdale facility.