Bitcoin Daily: Rhodium Will Be Crypto’s First 2022 IPO

[ad_1]

Cryptocurrency technology company Rhodium Enterprises will be the first initial public offering (IPO) for the crypto industry this year, according to a Cointelegraph report on Tuesday, January 18.

Rhodium will offer 7.69 million shares at $12 to $14 each, with a valuation of nearly $1.7 billion. The company uses proprietary technology and liquid cooling technology to self-mine bitcoin, aiming to be sustainable and profitable.

According to the report, Rhodium plans to open a new location in Texas, where it already has a site.

Texas has made a name for itself as a crypto mining location, and Rhodium would like to take advantage of the state’s independent electricity market and plenty of low-cost renewable energy resources. The company is among several new US companies that mine popular crypto.

In other news, chipmaker Intel is likely planning to deploy a specialized crypto-mining chip at February’s International Semiconductor Circuits Conference (ISSCC).

According to a CoinDesk article on Tuesday, this would put Intel in competition with Bitmain and MicroBT in the bitcoin mining application-specific integrated circuit (ASIC) market.

Crypto mining is notorious for driving up the prices of graphics processing units, which include Intels, which can be frustrating for gamers. Intel, unlike competitor Nvidia, said it has no plans to add ether mining limits to its graphics cards.

Finally, El Salvador, which has made headlines in recent months for making bitcoin legal tender, has onboarded 4 million users for its Chivo bitcoin wallet, CoinDesk reported Tuesday.

The wallet is backed by the government and is the result of a partnership with Netki, a digital identity provider.

According to President Nayib Bukele, the platform claims to have helped onboard 70% of the country’s previously unbanked population, which was part of the goal of making bitcoin legal tender.

The report notes that several major financial institutions, including the World Bank and the International Monetary Fund, shared drastic forecasts after the country made bitcoin legal tender, saying El Salvador’s actions could have unwarranted consequences on the economy. Despite these claims, Bukele has continued to promote the crypto.

——————————

NEW PYMNTS DATA: AUTHENTICATION OF IDENTITIES IN THE DIGITAL ECONOMY – DECEMBER 2021

By the way: More than half of US consumers believe biometric authentication methods are faster, more convenient, and more reliable than passwords or PINs, so why do less than 10% use them? PYMNTS, in collaboration with Mitek, surveyed over 2,200 consumers to better define this perception in relation to the usage gap and identify ways companies can increase usage.

[ad_2]