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Bitcoin Miner Rhodium Plans to Go Public Via a Reverse Merger

  • Rhodium will be listed on NASDAQ via a merger with SilverSun
  • The miner runs rigs with its proprietary liquid-cooling system
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Rhodium Enterprises Inc., a Bitcoin mining company that utilizes liquid cooling technology, plans to go public through a reverse merger with software services provider SilverSun Technologies Inc.

SilverSun investors will receive a cash dividend of $1.50 a share equal to about $8.5 million and a stock dividend of one share each in a new holding company subsidiary, the East Hanover, New Jersey-based company said in a statement Thursday. SilverSun shareholders will hold about 3.2% of the common equity ownership after the merger. The company would be listed on Nasdaq.