I'm still digesting the news as to what exactly the merger means for SilverSun shareholders.
Rhodium Enterprises, Inc., A Bitcoin Mining Company Utilizing Liquid Cooling Technology, Plans to List on NASDAQ via Merger with SilverSun Technologies, Inc.
Rhodium is a bitcoin miner which as I understand it ( via Bloomberg )
Rhodium is one of the few major Bitcoin miners that use a proprietary liquid-cooling system. Bitcoin miners use powerful computers to validate transaction data on the Bitcoin network and earn rewards in the form of the token. Those machines tend to get overheated. A high ambient temperature can lower the rigs' efficiency and accelerate their depreciation.
Based on the press release, it sounds like Rhodium takes over the SilverSun NASDAQ listing and in return SilverSun spins out all their holdings to a new entity which they talk about paying a 1:1 share dividend to existing holders. I think the intent is then to take this new entity public or somehow list the shares so they can be publicly traded.
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Wayne Schulz
wayne@s-consult.comSchulz Consulting
(860) 516-8990
Moodus, CT
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