Bankrupt Bitcoin Miner Rhodium Approved to Wind Down Operations

Bankrupt bitcoin miner Rhodium Encore LLC won court approval of its wind-down plan, which includes a $185 million deal with landlord and power supplier Whinstone US Inc. for nearly all of its assets.

The plan is reasonable and would pay creditors as fairly as possible, Judge Alfredo Perez of the US Bankruptcy Court for the Southern District of Texas said during a Wednesday hearing.

The judge also approved a $7.3 million fee allocation for Lehotsky Keller Cohn LLP, which represented Rhodium, following arguments against the fee from a special committee of Rhodium’s board of directors.

Creditors previously challenged $6 million ...