Bitcoin mining company Rhodium Enterprises has voluntarily filed for bankruptcy under Chapter 11 of the U.S. Bankruptcy Court for the Southern District of Texas, with debts reaching up to $100 million. The filing involves six subsidiaries—Rhodium Encore, Jordan HPC, Rhodium JV, Rhodium 2.0, Rhodium 10MW, and Rhodium 30MW. According to the filed documents, the company's debt ranges between $50 million and $100 million, while its total assets are estimated between $100 million and $500 million. Previously, Rhodium's enterprises had faced financial difficulties due to financial issues, including failing to repay a $54 million loan to lenders in July. In 2021, Rhodium raised $78 million in loans for its subsidiaries. Facing the risk of default, the company proposed two debt restructuring plans before the deadline but ultimately led to default due to disagreements among shareholders. Under the terms of voluntary bankruptcy under Chapter 11, Rhodium Enterprises will continue operations while undergoing debt restructuring to negotiate revised repayment plans with creditors.