Welcome to our dedicated page for Cathedra Bitcoin news (Ticker: CBTTF), a resource for investors and traders seeking the latest updates and insights on Cathedra Bitcoin stock.
Cathedra Bitcoin Inc. (CBTTF) operates high-density digital infrastructure for bitcoin mining across North America, combining proprietary operations with strategic hosting services. This page aggregates official news and press releases to help investors and industry observers track the company's evolving role in cryptocurrency infrastructure.
Access real-time updates on operational milestones, including data center expansions, equipment upgrades, and partnership developments with entities like Kungsleden Inc. and Compass Mining. The curated feed includes earnings disclosures, efficiency initiatives (such as underclocking implementations), and progress reports on facilities in Tennessee, Kentucky, and North Dakota.
Content spans three key areas: operational updates detailing hash rate improvements and energy optimization efforts, strategic announcements about joint ventures and hosting agreements, and financial reports providing insights into bitcoin production and cost management strategies. Bookmark this page for streamlined monitoring of Cathedra's progress in maximizing per-share bitcoin holdings through hybrid mining-hosted revenue models.
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 Inc. (TSXV: CBIT) (OTC Pink: CBTTF) has cancelled its previously announced non-brokered private placement of 25,000,000 units at C$0.10 per unit. CEO AJ Scalia cited unfavorable capital market conditions as the reason for cancellation. The company is now exploring alternative transactions, including profit-sharing deals with hosting clients, to increase its bitcoin-per-share holdings.
Cathedra recently completed a strategic merger with Kungsleden, Inc., a U.S.-based bitcoin mining data center developer. The company has energized an additional 20 megawatts at its North Dakota data center, bringing the total to 30 megawatts out of an expected 60 megawatts. Cathedra currently holds approximately 44.3 bitcoin, valued at US$3.0 million, equivalent to 5 satoshis per share.
Cathedra Bitcoin Inc. (TSXV: CBIT) (OTC Pink: CBTTF) has provided operational updates for its North American digital infrastructure assets. The company has energized approximately 20 additional megawatts of capacity at its North Dakota data center, bringing the total energized capacity to 30 megawatts out of the expected 60 megawatts. The remaining 30 megawatts are expected to be energized in the next three weeks.
Cathedra has also amended certain hosting contracts to include a profit share arrangement, allowing the company to share net profits from customer machines at its data centers. This strategy aims to increase upside exposure while covering power costs and collecting bitcoin without additional capital expenditure or risk.
As of the announcement, Cathedra holds approximately 44.3 bitcoin, valued at about US$2.7 million, which amounts to approximately 5 satoshis per share.
Cathedra Bitcoin Inc. (TSXV: CBIT) (OTC Pink: CBTTF) has announced several business updates. The company has amended terms for a leased bitcoin mining facility in Washington State, resulting in an all-in cash cost of approximately US$28.00 per megawatt-hour and an effective break-even hash price of less than US$15.00/PH/s/d under current market conditions. In Tennessee and Kentucky, Cathedra's data centers have enrolled in a demand response program, accruing credits of approximately US$300,000 in July and August.
The company has also closed its proposed warrant repricing, reducing the exercise price of 36,819,700 warrants to C$0.12 and including a mandatory acceleration provision. Additionally, Cathedra has published a memo outlining its treasury strategy and adopting bitcoin holdings per share as the key metric for future capital allocation decisions.
Cathedra Bitcoin Inc. (TSXV: CBIT) (OTC Pink: CBTTF) has announced a non-brokered private placement financing of 25,000,000 units at C$0.10 per unit, aiming to raise C$2,500,000 with an option to upsize by an additional C$2,500,000. Each unit consists of one subordinate voting share and one share purchase warrant with a 5-year expiry and tiered exercise prices ranging from C$0.12 to C$0.20. The offering is made under the listed issuer financing exemption (LIFE) and is expected to close around October 9, 2024. Proceeds will be used for infrastructure expansion, bitcoin acquisitions, and general corporate purposes. Cathedra, following a recent business combination, now operates three data centers totaling 30 megawatts and is developing a 60-megawatt center in North Dakota.
Cathedra Bitcoin Inc. (TSXV: CBIT) (OTC Pink: CBTTF) announced its Q2 2024 financial results, highlighting a 5% year-over-year increase in revenue from bitcoin mining operations to C$3.0 million. The company adapted to post-Halving conditions by resuming 'underclocking' of machines, reducing fleetwide active hash rate to 355 PH/s but improving efficiency to 26 J/TH. Cathedra completed a business combination with Kungsleden Inc. on July 23, 2024, repositioning itself as a developer and operator of high-density compute infrastructure. Post-quarter, the company relocated 1,129 Bitmain S19J Pro machines, reducing operating costs by 31%. As of August 29, 2024, Cathedra holds C$1.5 million in cash and C$3.4 million in bitcoin (41.1 BTC), totaling C$4.9 million in liquidity.
Cathedra Bitcoin Inc. (TSXV: CBIT) has announced several operational and corporate updates. The company plans to relocate 1,129 Bitmain S19J Pro machines in Tennessee, expecting to reduce operating costs by 31%. In North Dakota, Cathedra is finalizing a 60-megawatt bitcoin mining data center, with 10 megawatts already operational. The company also intends to reprice 36,819,700 outstanding warrants to C$0.12, subject to TSXV and warrant holder approval. This repricing aims to increase the likelihood of warrant exercise, potentially providing funds for bitcoin acquisition and data center development.
Cathedra Bitcoin Inc. (TSXV: CBIT) has announced the resumption of trading on the TSX Venture Exchange (TSXV) following the completion of its business combination with Kungsleden, Inc. Trading is set to commence on August 6, 2024. The company has also engaged Integral Wealth Securities as a market maker to improve liquidity of its subordinate voting shares, for a monthly fee of $7,000. Cathedra's common shares have been re-designated as subordinate voting shares with the new CUSIP number 14919F206. The company is also in the process of relisting its shares on the OTCQB, expected to resume shortly after TSXV trading begins.
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.
