A group of investors has filed a class action lawsuit against the founders of Texas-based bitcoin mining company Rhodium Enterprises, which was initiated by law firm Iacuone McAllister Potter, accusing it of fraudulent conduct, intentionally misleading plaintiffs by concealing key information and conducting proprietary trading, investing a total of $33 million, and failing to disclose the sale of Rhodium's operating facilities to direct competitor Riot Blockchain. It is reported that Rhodium Enterprises has filed for Chapter 11 bankruptcy protection in the Southern District of Texas in August, including six subsidiaries of the company, including Rhodium Encore and Rhodium 2.0.