Cathedra Bitcoin Announces Partnership with Compass Mining
Cathedra Bitcoin has announced a strategic partnership with Compass Mining for Bitcoin mining operations. Under the agreement, Cathedra will host 10 megawatts of Compass Mining's equipment at their Kentucky data center. Compass Mining will operate the site, paying power costs and sharing 50% of net profits with Cathedra in bitcoin. Both companies aim to expand beyond the initial 10 megawatts to future sites. Currently, Cathedra holds approximately 44.5 bitcoin valued at US$3.0 million, equivalent to 5 satoshis per share.
Cathedra Bitcoin ha annunciato una partnership strategica con Compass Mining per le operazioni di mining di Bitcoin. In base all'accordo, Cathedra ospiterà 10 megawatt dell'attrezzatura di Compass Mining nel loro data center in Kentucky. Compass Mining gestirà il sito, pagando i costi energetici e condividendo il 50% dei profitti netti con Cathedra in bitcoin. Entrambe le aziende mirano ad espandersi oltre i 10 megawatt iniziali verso future sedi. Attualmente, Cathedra detiene circa 44,5 bitcoin, valutati 3,0 milioni di dollari, equivalenti a 5 satoshi per azione.
Cathedra Bitcoin ha anunciado una asociación estratégica con Compass Mining para operaciones de minería de Bitcoin. Según el acuerdo, Cathedra albergará 10 megavatios del equipo de Compass Mining en su centro de datos en Kentucky. Compass Mining operará el sitio, cubriendo los costos de energía y compartiendo el 50% de las ganancias netas con Cathedra en bitcoin. Ambas compañías tienen como objetivo expandirse más allá de los 10 megavatios iniciales hacia futuros sitios. Actualmente, Cathedra posee aproximadamente 44,5 bitcoin valorados en 3,0 millones de dólares, equivalentes a 5 satoshis por acción.
Cathedra Bitcoin는 Compass Mining과 비트코인 채굴 작업을 위한 전략적 파트너십을 발표했습니다. 계약에 따라 Cathedra는 켄터키 데이터 센터에서 Compass Mining의 장비 10 메가와트를 호스팅하게 됩니다. Compass Mining은 현장을 운영하며 전력 비용을 지불하고 Cathedra와 순이익의 50%를 비트코인으로 공유합니다. 두 회사는 초기 10 메가와트를 넘어 미래의 사이트로 확장하는 것을 목표로 하고 있습니다. 현재 Cathedra는 약 44.5 비트코인을 보유하고 있으며 이는 300만 달러에 해당하며 주당 5 사토시로 평가됩니다.
Cathedra Bitcoin a annoncé un partenariat stratégique avec Compass Mining pour les opérations de minage de Bitcoin. Selon l'accord, Cathedra hébergera 10 mégawatts de l'équipement de Compass Mining dans son centre de données du Kentucky. Compass Mining exploitera le site, paiera les coûts énergétiques et partagera 50 % des bénéfices nets avec Cathedra en bitcoins. Les deux entreprises visent à s'étendre au-delà des 10 mégawatts initiaux vers de futurs sites. Actuellement, Cathedra détient environ 44,5 bitcoins d'une valeur de 3,0 millions de dollars, soit 5 satoshis par action.
Cathedra Bitcoin hat eine strategische Partnerschaft mit Compass Mining für die Bitcoin-Mining-Operationen angekündigt. Gemäß der Vereinbarung wird Cathedra 10 Megawatt der Ausrüstung von Compass Mining in ihrem Rechenzentrum in Kentucky hosten. Compass Mining wird die Site betreiben, die Stromkosten übernehmen und 50 % der Nettogewinne mit Cathedra in Bitcoin teilen. Beide Unternehmen streben an, über die anfänglichen 10 Megawatt hinaus auf zukünftige Standorte zu expandieren. Derzeit hält Cathedra etwa 44,5 Bitcoin im Wert von 3,0 Millionen US-Dollar, was 5 Satoshis pro Aktie entspricht.
- Partnership includes 50% profit sharing arrangement with Compass Mining
- Potential for expansion beyond initial 10 megawatts capacity
- Company holds 44.5 bitcoin worth US$3.0 million
- None.
Toronto, Ontario--(Newsfile Corp. - October 28, 2024) - (Block Height: 867,650) - Cathedra Bitcoin Inc. (TSXV: CBIT) (OTC Pink: CBTTF) ("Cathedra" or the "Company"), a bitcoin company that develops and operates digital infrastructure assets with the goal of maximizing its per-share bitcoin holdings, is pleased to announce a new partnership with Compass Mining Inc. ("Compass Mining"), a leading provider of Bitcoin mining hardware, hosting, and services.
Partnership Overview
Under the partnership, Cathedra will host 10 megawatts of Compass Mining's equipment at one of Cathedra's data centers in Kentucky. As part of the partnership, Compass Mining will operate the site and pay pass-through power costs plus
Management Commentary
"We are very excited to be working with Compass Mining, a company that has demonstrated their ability to mine bitcoin at scale through multiple market cycles," remarked Cathedra President and COO Drew Armstrong. "From a Cathedra perspective, Compass represents the addition of another quality counterparty to our portfolio of customers. Additionally, we view the profit share construct on this initial 10 megawatts as a way to improve Cathedra's per-share bitcoin holdings."
"We're thrilled to partner with Cathedra," said Paul Gosker, CEO of Compass Mining. "The Kentucky data center meets Compass's high uptime and reliability standards for all its partner sites, and the location offers a stable power grid and favorable regulatory environment. By leveraging Cathedra's infrastructure, we will have even greater flexibility and control over our Bitcoin mining services."
Cathedra Bitcoin Holdings Update
At time of publishing, the Company holds approximately 44.5 bitcoin worth approximately US
About Compass
Compass Mining is a customer-first company that provides a platform for individuals and businesses to purchase Bitcoin mining hardware, host machines, build and manage mining facilities, and access a range of ancillary services. With a commitment to exceptional customer support and transparency, Compass Mining sets the benchmark for bitcoin mining hosting. Its mission is to make Bitcoin mining accessible to everyone. To learn more about Compass Mining or to start mining today, visit compassmining.io.
About Cathedra Bitcoin
Cathedra Bitcoin Inc. develops and operates digital infrastructure assets across North America with the goal of maximizing its per-share bitcoin holdings. The Company hosts bitcoin mining clients across its portfolio of three data centers (30 megawatts total) in Tennessee and Kentucky. Additionally, Cathedra is a
For more information about Cathedra, visit cathedra.com or follow Company news on Twitter at @CathedraBitcoin or on Telegram at @CathedraBitcoin.
Media and Investor Relations Inquiries
Please contact:
AJ Scalia
CEO
ir@cathedra.com
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" and "forward-looking statements" 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. Forward-looking information contained in this news release includes but is not limited to information concerning the Warrants, the Company's expectations with respect to the amendments to the terms for one of its leased bitcoin mining facilities in Washington State and the Company's compensation expectations under the demand response program through the Tennessee Valley Authority. 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. The Company has also assumed that no significant events occur outside of its normal course of business.
Additionally, these forward-looking statements may be affected by risks and uncertainties in the business of Cathedra and general market conditions. Investors are cautioned that forward-looking statements are not based on historical facts but instead reflect Cathedra's management's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although Cathedra believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed thereon, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking statements are the following: the potential impact of the announcement of the completion of the Transaction on relationships, including with regulatory bodies, employees, customers and competitors; changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws and regulations both locally and in foreign jurisdictions; compliance with extensive government regulation and the costs associated with compliance; unanticipated costs; changes in market conditions impacting the average revenue per MWh, and the risks and uncertainties associated with foreign markets. Additionally, the forward-looking statements contained herein may be affected by risks and uncertainties in the business of Cathedra and general market conditions. Please see the Company's management information circular dated June 18, 2024 which is available for view the Company's SEDAR+ profile on www.sedarplus.ca. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended and such changes could be material. Readers should not place undue reliance on forward-looking information.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/227988
FAQ
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