Rhodium Enterprises, a Bitcoin mining firm, filed for voluntary Chapter 11 bankruptcy in the Southern District of Texas on August 24, revealing liabilities of up to $100 million. The filing includes six subsidiaries and follows Rhodium's failure to repay $54 million in loans, leading to financial distress. Despite two debt restructuring proposals, disagreements among stakeholders triggered the default. The bankruptcy allows Rhodium to reorganize its debts while continuing operations, amid broader industry challenges such as declining Bitcoin prices, reduced mining rewards, and rising energy costs. Source: Cointelegraph