farcastor

Nathan Nichols, co-chief executive of bitcoin miner Rhodium Enterprises, has resigned as the company completed the sale of its Temple mine in De Sasse for $40.6 million in cash. Rhodium announced in an email to investors last week that Nichols had decided to step down, effective after the new year. Just weeks ago, Rhodium creditors filed a lawsuit against him and the other co-founders, accusing them of fraud. Rhodium also informed investors that it had previously secured $15 million of its $30 million debtor-held financing from Galaxy Digital. After closing the sale of the Temple mine on Dec. 18, the company used $16 million of the total to repay Galaxy's debt in full, including fees and interest. In addition, Rhodium said on Friday that it was ready to resume its miner escrow contract at Riot's Rockdale mine after winning a legal battle with the custodian.