CATHEDRA BITCOIN SUB VTG - CBTTF STOCK NEWS

Cathedra Bitcoin Inc. (TSXV: CBIT) (OTCQB: CBTTF) has completed its business combination with Kungsleden, Inc., creating a developer and operator of high-density compute infrastructure with 95 MW of expected power capacity and 4.8 EH/s of expected hash rate under management. The transaction resulted in Kungsleden shareholders owning approximately 72.5% of Cathedra's equity and 80% of voting rights. Cathedra's shares are expected to resume trading on the TSXV under the symbol 'CBIT' around early August 2024. The company also plans to list on a major U.S. stock exchange in the second half of 2024, subject to approvals.

Cathedra Bitcoin Inc. (TSXV: CBIT) (OTC Pink: CBTTF) held its Annual General and Special Meeting on July 22, 2024, with 63.90% of outstanding shares represented. Shareholders approved all matters, including the proposed merger with Kungsleden, Inc. Key approvals include:

1. Appointment of SRCO Professional as auditors
2. Setting the number of directors at seven
3. Election of seven directors
4. Approval of the merger with Kungsleden, Inc.
5. Alteration of articles to create a new class of multiple voting shares
6. Authorization for potential share consolidation
7. Approval of the Company's equity-based incentive plan

The Company expects to close the merger soon, subject to TSX Venture Exchange approval, with trading of Cathedra shares to resume shortly after.

Cathedra Bitcoin has published its 2024 letter to shareholders, detailing the company's performance and outlook. CEO AJ Scalia and President Drew Armstrong highlighted the company's progress over the past three years, the current state of bitcoin mining, and a proposed merger with Kungsleden. For more details, the full letter is available on the company's website.

Cathedra Bitcoin, a diversified bitcoin mining company, clarified its previously announced share consolidation proposal and scheduled a joint investor presentation with Kungsleden management. The share consolidation, which will be discussed at the July 22, 2024 shareholder meeting, aims to meet the minimum share price requirements for a planned U.S. stock exchange listing. This listing, targeted for completion by the end of 2024, is contingent on the proposed merger with Kungsleden and regulatory approvals. The consolidation ratio could be up to 150:1 but will only be as high as necessary. Cathedra's management believes that the U.S. listing will enhance the company's public profile, access to capital, and liquidity. A virtual presentation is scheduled for July 9, 2024, to discuss the merger and its benefits.

Cathedra Bitcoin has received conditional approval from the TSX-V for its merger with Kungsleden, Inc. The amended share exchange agreement will increase Cathedra's ownership in the new company to 27.5%, reducing the total consideration paid to Kungsleden shareholders by C$19.2 million. A shareholder meeting is scheduled for July 22, 2024, to approve the merger, after which trading of Cathedra's shares on the TSX-V will resume. Cathedra is also working towards listing on a major U.S. stock exchange, expecting completion in the second half of 2024. The company has engaged Oak Hill Financial for investor relations and marketing services.

Cathedra Bitcoin, a diversified bitcoin mining company, has announced updates on its operations and the proposed merger with Kungsleden. Following the fourth Bitcoin halving on April 19, 2024, which reduced the new bitcoin issuance rate by 50%, Cathedra adjusted its mining fleet's power draw and hash rate to maximize cash flow. As a result, the company's fleetwide efficiency improved, reducing the breakeven hash price to under US$42/PH/s/day.

The proposed merger with Kungsleden, a developer of high-density compute infrastructure, is under review by the TSX Venture Exchange. The merger aims to provide Cathedra with a more stable and predictable revenue model. The shareholder meeting for the merger vote is expected in the third quarter, with trading in Cathedra's shares to resume upon deal closure.

Additionally, Kungsleden has activated the first 10 MW of hosting capacity at its 60-MW North Dakota data center. The remaining capacity is expected to be completed soon, with all hosting capacity contracted for an initial one-year term at an average rate of US$74.17 per MWh.

Cathedra Bitcoin announces a significant increase in Q1 2024 revenues, reporting a 104% rise to C$4.1 million from bitcoin mining operations compared to Q1 2023. Their total bitcoin holdings increased by 136% to C$4.1 million. Shareholders' equity also grew by 9% to C$10.0 million. On March 6, 2024, they entered a binding share exchange agreement with Kungsleden, aiming to expand their portfolio to 45-MW across multiple sites in the U.S. They also adjusted their mining strategies post-Bitcoin's fourth halving to maximize cash flow. Cathedra holds C$5.6 million in total liquidity. Bitcoin prices surged to an all-time high of US$73,082 in Q1 2024. The company remains optimistic about the future of bitcoin mining.

Cathedra Bitcoin Inc. announces its fourth quarter and full-year audited financial results for 2023, showcasing a 24% increase in revenue from bitcoin mining operations, a 13% increase in gross bitcoin produced, and a 75% decrease in total debt. The company also extended the maturity on outstanding debt and saw a 94% increase in total shareholders' equity. Operational highlights include a 99% increase in total bitcoin mining hash rate, the launch of an aftermarket software product for bitcoin mining machines, and a partnership with 360 Mining for off-grid mining. The company is preparing for the upcoming Bitcoin Halving and has entered into a share exchange agreement with Kungsleden Inc. The merger is expected to close in the second quarter of 2024.

Cathedra Bitcoin Inc. announces a merger with Kungsleden, Inc. to create a bitcoin mining and hosting business with 4.8 EH/s hash rate and 94 MW power capacity across 8 data centers in 5 states. The transaction will result in Cathedra acquiring Kungsleden, forming a Tier 2 Technology issuer on the TSX-V. The combined entity aims to expand into the high-performance compute data center market.