Bitcoin Miner Rhodium Plans To List On NASDAQ Via Merger With SilverSun Technologies

Rhodium Enterprises, a Bitcoin mining company, plans to list on the Nasdaq following a merger with SilverSun Technologies Inc., a business application, technology, and consulting firm.

Rhodium has been planning to go public since last year, but had to postpone its IPO owing to market circumstances.

Rhodium CEO Chase Blackmon said in a statement:

“We believe access to U.S. capital markets is paramount to sustainable, long-term success in our capital-intensive industry. We believe this strategic transaction will unlock long-term accretive value for Rhodium’s shareholders.”

SilverSun shareholders will receive a cash dividend of at least $1.50 per share, for a total of $8.5 million, as well as a stock dividend. The transaction is scheduled to finalize before the end of the year, after which Rhodium will attempt to float the shares on the stock exchange.

According to SilverSun CEO Mark Meller, the transaction will give SilverSun investors the chance to receive a considerable upfront cash payout as well as participate in the potential upside of Rhodium at an exciting moment for the cryptocurrency industry.

Meller, as well as the other members of SilverSun’s board of directors, will stay in their positions following the transaction. B. Riley Securities provided transaction advice.

According to an SEC filing from earlier this month, Rhodium just raised $11.9 million of the $30 million it was seeking in the form of debt, options, and securities.

Aside from mining Bitcoin, the firm also develops liquid cooling solutions, presenting itself as a vertically integrated technology & infrastructure platform on its website.

According to an SEC filing for the IPO submitted in January, Rhodium had around 125 megawatts of mining capacity at its original Texas facility, and the firm planned to sell 7.69 million shares at a price between $12 and $14 apiece.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

CoinCu News