This week’s Crypto Biz explores Pavel Durov’s arrest and consequences for Telegram, Nvidia’s earnings results, OpenSea’s Wells notice, Rhodium’s bankruptcy, BlackRock’s new crypto ETF and SxT Labs’ fundraising.
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Rhodium’s debts range between $50 million and $100 million, while its total assets are estimated between $100 million and $500 million.
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The partners at the Texas facility had troubled relations almost from their start in 2020.
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Crypto mining firm Riot Platforms seeks to terminate “certain hosting agreements” with Rhodium and requests exemption from any owed power credits to the counterparty.
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While bitcoin is down more than 72% from the crypto asset’s all-time high, bitcoin mining operations are expanding at a rapid pace during the downturn. On Tuesday, the bitcoin miner Cleanspark said its hashrate has surpassed 4 exahash per second (EH/s), and the Texas mining company Rhodium revealed it raised $11.9 million, according to a […]
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