Is Rhodium Enterprises (RHDM) Halal to invest in?

Is Rhodium Enterprises (RHDM) Halal to invest in?

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 

Sign up for our newsletter and receive our “Beginner’s Guide to Halal Investing in Stocks” for FREE!

Enter your email address to subscribe:*