Cathedra Bitcoin Announces Hosting for Remaining New Machines
Cathedra Bitcoin Inc. (TSX-V: CBIT; OTCQX: CBTTF) has provided updates on its diversified bitcoin mining operations. On February 3, 2023, the company entered a hosting agreement to deploy 490 Bitmain Antminer S19J Pro and 50 S19 XP machines at a Kentucky data center, expected by mid-February 2023. This will elevate the company's active hash rate to at least 378 PH/s, marking a 53% increase from the current 247 PH/s. The management highlighted the effective capacity utilization of their machines and a significant hash rate growth of 425% since new management took over in Q4 2021.
- Signing a hosting agreement for 490 Bitmain Antminer S19J Pro and 50 S19 XP machines, enhancing operational capacity.
- Projected increase in active hash rate from 247 PH/s to at least 378 PH/s, a 53% rise.
- Achieved hash rate growth of approximately 425% since new management joined in Q4 2021.
- None.
On
Upon deployment of these machines at the
Management Commentary
“We are delighted to have secured capacity for all of our new machines in a capital efficient manner. Last year we were forced to adapt to historically challenging bitcoin mining conditions on the fly, and I am proud of the flexibility and creativity our team demonstrated in finding homes for these machines.
“Upon completing these final deployments, our active fleet will consist of over 4,400 latest-generation machines producing over 378 PH/s of hash rate using underclocked settings to maximize our operating margins. We will have delivered hash rate growth of approximately
“With these final hosting agreements secured, we are excited to begin looking toward the future once more,” remarked AJ Scalia, Chief Executive Officer of
About
Cathedra believes sound money and abundant energy are the fundamental ingredients to human progress and is committed to advancing both by working closely with the energy sector to secure the Bitcoin network. Today, Cathedra’s diversified bitcoin mining operations total 247 PH/s and span three states and five locations in
For more information about Cathedra, visit cathedra.com or follow Company news on Twitter at @CathedraBitcoin or on Telegram at @CathedraBitcoin.
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Forward-Looking Statements
This news release contains certain “forward-looking information” within the meaning of applicable Canadian securities laws that are based on expectations, estimates and projections as at the date of this news release. The information in this release about future plans and objectives of the Company, are forward-looking information. Other forward-looking information includes but is not limited to information concerning: the intentions and future actions of senior management, the intentions, plans and future actions of the Company, as well as the Company’s ability to successfully mine digital currency; revenue increasing as currently anticipated; the ability to profitably liquidate current and future digital currency inventory; volatility of network difficulty and, digital currency prices and the resulting significant negative impact on the Company’s operations; the construction and operation of expanded blockchain infrastructure as currently planned; and the regulatory environment of cryptocurrency in applicable jurisdictions.
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