Cathedra Bitcoin Announces Partnership with Synota

Rhea-AI Summary

Cathedra Bitcoin (TSXV: CBIT) (OTCQB: CBTTF) has announced a strategic partnership with Synota, a software company specializing in automated payments for C&I energy and hosting contracts. Through this collaboration, Cathedra will implement Synota's tools to enable daily or weekly settlement of hosting bills, enhancing cash flow management and reducing financial risk.

The partnership offers Cathedra increased flexibility in bitcoin accumulation by providing options to receive hosting payments in either U.S. dollars or bitcoin. Synota's platform integrates various payment rails to streamline payment processes and simplify back-office operations. This collaboration aims to improve operational efficiency while enabling Cathedra to optimize its bitcoin acquisition strategy through direct streaming from hosting operations.

Positive

• Implementation of automated payment settlement system improving cash flow cycles
• Reduced financial risk through streamlined payment processing
• Added flexibility to receive payments in either USD or bitcoin
• Enhanced operational efficiency through automated back-office processes

Negative

• None.

Toronto, Ontario--(Newsfile Corp. - January 21, 2025) - Cathedra Bitcoin Inc. (TSXV: CBIT) (OTCQB: 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 Synota Inc. ("Synota"), a software company that provides automated payments for C&I energy and hosting contracts to reduce financial risk and deliver consistent cash flow.

Partnership Overview

Under the partnership, Cathedra will utilize Synota's tools to facilitate daily or weekly settlement of hosting bills, thereby improving cash flow cycles, reducing risk and simplifying back-office processes. Synota's platform utilizes integrations with various payment rails to automate fast and reliable payments. This partnership will also provide added flexibility for Cathedra to accumulate bitcoin, by providing management the option to receive daily hosting payments in the form of U.S. dollars or bitcoin.

Management Commentary

"We are thrilled to be partnering with Synota, a company we have been following for some time," said Cathedra President and COO Drew Armstrong. "Their platform not only improves our cash flow cycles and reduces credit risk to our hosting counterparties, but also makes it easier for us to stack bitcoin opportunistically by streaming bitcoin directly from our hosting operations."

Austin Mithcell, Co-Founder and CEO of Synota Inc. added, "Cathedra is an exciting partnership for Synota. They recognize both the financial and operational value of transactional flexibility and transparency. We look forward to growing our business with them and assisting Cathedra in delivering an exceptional customer experience to the bitcoin mining industry."

About Cathedra Bitcoin

At time of publishing, the Company holds approximately 50.8 bitcoin worth approximately US$5.6million and amounting to approximately 6 satoshis (or "sats") per share.

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, as well as a 60-megawatt data center in North Dakota, a joint venture in which Cathedra is a 25% partner. Cathedra also operates a fleet of proprietary bitcoin mining machines at its own and third-party data centers, producing approximately 400 PH/s of hash rate. Cathedra is headquartered in Vancouver and its shares trade on the TSX Venture Exchange under the symbol CBIT and in the OTC market under the symbol CBTTF.

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

About Synota

Synota, Inc is a private software company based out of Worthington, Ohio that developed a programmatic payments solution for the energy industry. Synota is committed to driving efficiency in the energy industry through development of embedded finance and risk assurance solutions. Synota experienced strong growth insoftware utilization during 2024 and expects continued increasing adoption in 2025.

For more information about Synota, visit Synota.io.

Media and Investor Relations Inquiries

Please contact:

AJ Scalia
Chief Executive Officer
ir@cathedra.com

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 the goal of maximizing its per-share bitcoin holdings. 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: changes in the Company's 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; the risks and uncertainties associated with foreign markets; the construction and operation of new facilities may not occur as currently planned, or at all; expansion of existing facilities may not materialize as currently anticipated, or at all; new miners may not perform up to expectations; revenue may not increase as currently anticipated, or at all; the ongoing ability to successfully mine Bitcoin is not assured; failure of the equipment upgrades to be installed and operated as planned; the availability of additional power may not occur as currently planned, or at all; and the power purchase agreements and economics thereof may not be as advantageous as expected. Additionally, the forward-looking statements contained herein may be affected by risks and uncertainties in the business of Cathedra and general market conditions. For further information concerning these risks and uncertainties and other risks and uncertainties, please see the Company's filings under the Company's SEDAR+ profile on www.sedarplus.ca, including but not limited to the Company's management information circular dated June 18, 2024 and the Company's most recent interim and annual management discussion and analysis. 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 from those expressed in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended and such changes could be material, including factors that are currently unknown to or deemed immaterial by the Company. 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.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/237913

FAQ

How will Synota's payment system benefit Cathedra Bitcoin (CBTTF) operations?

Synota's payment system will enable Cathedra to implement daily or weekly settlement of hosting bills, improve cash flow cycles, reduce financial risk, and simplify back-office processes while providing flexibility to receive payments in USD or bitcoin.

What payment options does the Cathedra-Synota partnership offer for CBTTF hosting services?

The partnership allows Cathedra to receive hosting payments in either U.S. dollars or bitcoin, providing flexibility in their bitcoin accumulation strategy.

How frequently can Cathedra Bitcoin (CBTTF) process hosting payments through Synota's platform?

Through Synota's platform, Cathedra can process hosting payments on a daily or weekly basis, enabling more frequent settlement cycles.

What operational improvements will CBTTF achieve through the Synota partnership?

The partnership will improve cash flow cycles, reduce credit risk with hosting counterparties, simplify back-office processes, and enable direct bitcoin streaming from hosting operations.