Bitcoin mining company Rhodium files for Chapter 11 bankruptcy in Texas court

Bitcoin mining company Rhodium Enterprises has filed for voluntary bankruptcy.
Rhodium Enterprises filed for Chapter 11 voluntary bankruptcy protection in the U.S. District Court for the Southern District of Texas on the 24th.
The bankruptcy filing also includes Rhodium Encore, Jordan HPC, and other companies that have filed for bankruptcy.
HPC), Rhodium JV, Rhodium 2.0, Rhodium 10MW
The company has six subsidiaries, including GE Energy, GE Power, GE Energy 10MW, and Rhodium 30MW. According to the filing, the company has $50 million in debt.
Her net worth is estimated to be between $100 million (approximately 14.5 billion yen) and $100 million (approximately 14.5 billion yen), and her total assets are estimated to be between $100 million and $500 million (approximately 14.5 billion yen to 72.4 billion yen).
Rhodium's bankruptcy was due to internal financial difficulties.
Rhodium Enterprises reportedly defaulted on a loan amounting to $54 million in July. In 2021, Rhodium was forced to close its subsidiary
The company received a loan of $78 million from the IMF. Two proposals for debt restructuring were presented ahead of the deadline, but a disagreement between the stakeholders led to a default.
Capt. 11's voluntary bankruptcy proceedings will allow the company to restructure its debt while continuing its operations and negotiate repayment plans under revised terms.