How much of Rhodium Enterprises’ revenue comes from haram?

Rhodium primarily earns its revenue from mining Bitcoin. 

Practical Islamic Finance concludes:

None of Rhodium’s revenue comes from anything inherently haram.

Does Rhodium Enterprises rely on interest to operate?

Year-to-Date
for period ended
6/30/2021
Fiscal year
ended
12/31/2020
Fiscal year
ended
12/31/2019
Interest Income $9,051$16
Total Revenue$48,181$5,150
Interest Expense $9,740$422
Total Expenses$30,181$6,024
Interest Income / Revenue18.79%0.31%
Interest Expense / Total Expense32.27%7.01%
*Numbers in thousands, U.S. dollars

Practical Islamic Finance concludes:

Riba is relied upon in Rhodium’s operations.

What is Rhodium Enterprises’ Environmental, Social, and Governance (ESG) impact?

Environment

Rhodium recently entered a long term lease for a 185 megawatt site powered by renewable energy.

According to Rhodium, the company intends to reach 100% net carbon neutrality by the end of 2022.

Social

No notable social highlights. 

Governance

No notable governance highlights. 

Practical Islamic Finance concludes:

Rhodium has a net positive ESG impact.

Comfort Rating

From Rhodium’s business, financial, and ESG reviews, Practical Islamic Finance rates Rhodium stock as: 

Uncomfortable to invest in from a halal perspective.

Sources

Rhodium Enterprises S-1