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Bitcoin Miner’s Epic Collapse: Rhodium Enterprises Files for Bankruptcy, Proving Again That Printing Money in Your Basement Is Still Not a Good Idea

A cartoon miner stands amidst a pile of rubble, surrounded by broken machinery. A giant dollar sign looms in the background, with coins spilling out from it like water. The miner's pickaxe lies shattered at their feet.

The never-ending saga of crypto’s greatest hits continues. Rhodium Enterprises, a bitcoin mining firm, has filed for Chapter 11 bankruptcy in Texas court with liabilities ranging from $50 to $100 million and assets between $100 and $500 million. Because what could possibly go wrong when you’re dealing with numbers on a computer created out of thin air?.

Source: cointelegraph

Bitcoin mining firm Rhodium Enterprises has filed for voluntary bankruptcy under Chapter 11 in the United States Bankruptcy Court for the Southern District of Texas, revealing liabilities of up to $100 million. The filing was submitted on Aug. 24 and includes six subsidiaries — Rhodium Encore, Jordan HPC, Rhodium JV, Rhodium 2.0, Rhodium 10MW and Rhodium 30MW. According to the document, the company’s debts range between $50 million and $100 […]

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