Cathedra Bitcoin Announces Management Team Expansion

Rhea-AI Summary

Cathedra Bitcoin Inc. (TSX-V: CBIT; OTCQX: CBTTF) has announced the addition of three key members to its management team: Isaac Fithian as Chief Field Operations & Manufacturing Officer, Rete Browning as Chief Technology Officer, and Tom Masiero as Head of Business Development. Fithian, Browning, and Masiero bring extensive experience in bitcoin mining and technology. Cathedra currently operates with a hash rate of 187 PH/s across various U.S. sites, with plans to deploy an additional 538 PH/s in 2022, aiming for a total hash rate of 725 PH/s.

Positive

• Addition of experienced management team members enhancing operational expertise.
• Current hash rate stands at 187 PH/s, with plans to reach 725 PH/s after new deployments.

Negative

• High volatility in cryptocurrency prices may negatively impact operations.
• Regulatory uncertainties surrounding cryptocurrency could pose risks.

TORONTO--(BUSINESS WIRE)-- (Block Height: 725,898) – Cathedra Bitcoin Inc. (TSX-V: CBIT; OTCQX: CBTTF) (the “Company” or “Cathedra”), a Bitcoin company that develops and operates world-class bitcoin mining infrastructure, is pleased to announce the additions of Isaac Fithian, Rete Browning, and Tom Masiero to the Company’s management team.

Isaac Fithian joins Cathedra as Chief Field Operations & Manufacturing Officer (“CFOMO”). Prior to joining Cathedra, Mr. Fithian was a founding member of Great American Mining, a bitcoin mining company focused on off-grid operations, where he was responsible for designing and building prototype modular data centers, maintaining fleet uptime, and remote management logistics. As CFOMO, Mr. Fithian will be responsible for developing the Company’s in-house manufacturing capabilities; creating and supervising remote field operations for deployed bitcoin mining equipment; and overseeing special R&D projects.

Rete Browning joins Cathedra as Chief Technology Officer (“CTO”). Prior to joining Cathedra, Mr. Browning was a founding member of Great American Mining, where he served as Principal Engineer. Mr. Browning is trained as a chemical and petroleum engineer and as a technology and energy analyst. He brings to Cathedra his expertise in the energy industry—both conventional and alternative—and bitcoin mining industry. As CTO, Mr. Browning will be responsible for designing and commercializing novel applications of technologies for use in the Company’s bitcoin mining operations; leading R&D initiatives for the Company; and assisting in the development of the Company’s manufacturing capabilities.

Tom Masiero joins Cathedra as Head of Business Development. Prior to joining Cathedra, Mr. Masiero was a co-founder of Great American Mining, where he also served as Chief Operating Officer. Mr. Masiero brings to Cathedra decades of experience across internet and digital media, entrepreneurship, and bitcoin mining, as well as a talent for building lean teams that excel in off-grid bitcoin mining. As Head of Business Development, Mr. Masiero will be responsible for cultivating relationships with energy producers and other key partners; serving as a public representative of the Company; and developing innovative business models that will offer Cathedra a competitive advantage in bitcoin mining.

About Cathedra Bitcoin

Cathedra Bitcoin Inc. (TSX-V: CBIT; OTCQX: CBTTF) is a Bitcoin company that develops and operates world-class bitcoin mining infrastructure.

Cathedra believes sound money and cheap, 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 owns 187 PH/s across various sites around the United States and expects to deploy an additional 538 PH/s in 2022. Upon the full deployment of its purchased machines, Cathedra’s hash rate is expected to total 725 PH/s. The Company is focused on expanding its portfolio of hash rate through a diversified approach to site selection and operations, utilizing multiple energy sources across various jurisdictions.

For more information about Cathedra, visit cathedra.com or follow Company news on Twitter at @CathedraBitcoin.

Cautionary Statement

Trading in the securities of the Company should be considered highly speculative. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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 expected deployment of an additional miners, the intentions and future actions of senior management, the intentions, plans and future actions of the Company, as well as the Company’ 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.

Any statements that involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information.

This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time it was made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others: the ability of the Company to achieve its corporate objectives or otherwise advance the progress of the Company; risks related to the international operations; the Company's inability to obtain any necessary permits, consents or authorizations required for its activities; an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to the effects of COVID-19 on capital market conditions, restriction on labor and international travel and supply chains; general market and industry conditions; and those risks set out in the Company’s public documents filed on SEDAR. The Company has also assumed that no significant events occur outside of the Company’s normal course of business. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to revise or update any forward-looking information other than as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220304005442/en/

Media and Investor Relations Inquiries



Sean Ty

Chief Financial Officer

ir@cathedra.com

Source: Cathedra Bitcoin Inc.

FAQ

What are the recent management changes at Cathedra Bitcoin Inc.?

Cathedra Bitcoin Inc. has appointed Isaac Fithian as Chief Field Operations & Manufacturing Officer, Rete Browning as Chief Technology Officer, and Tom Masiero as Head of Business Development.

What is the current hash rate of Cathedra Bitcoin Inc.?

Cathedra Bitcoin Inc. currently operates with a hash rate of 187 PH/s and plans to increase it to 725 PH/s with additional deployments.

Who are the new executives at Cathedra Bitcoin Inc.?

The new executives are Isaac Fithian, Rete Browning, and Tom Masiero, all previously associated with Great American Mining.

What are Cathedra Bitcoin's future plans for hash rate expansion?

Cathedra Bitcoin plans to deploy an additional 538 PH/s in 2022, bringing their total hash rate to 725 PH/s.

What risks does Cathedra Bitcoin Inc. face in the cryptocurrency market?

Cathedra faces risks from high volatility in cryptocurrency prices and regulatory uncertainties that could impact its operations.