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Cathedra Bitcoin Inc. (symbol: CBTTF) is a Bitcoin company based in Toronto, Ontario, focused on bitcoin mining operations that produce 355 PH/s across various locations in the United States. The company continues to manage its fleet of mining machines, adapting to the 2024 Halving event to enhance cash flow amid challenging mining conditions. With a strategic merger on the horizon, Cathedra aims to diversify its revenue streams by entering the hosting model, providing stable and predictable earnings. The proposed merger with Kungsleden, Inc. will facilitate this diversification and open doors to new opportunities in sectors like artificial intelligence. Cathedra Bitcoin remains optimistic about the future of bitcoin mining and is poised to capitalize on the evolving digital currency landscape.
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Cathedra Bitcoin Inc. (TSX-V: CBIT; OTCQB: CBTTF) announces updates on its bitcoin mining operations, including adjustments to 2,000 S19J Pro machines, increasing fleet hash rate to approximately 404 PH/s and holding approximately C$800,000 of cash and C$2.8 million of bitcoin on its balance sheet.
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Cathedra Bitcoin Inc. (CBIT) settles outstanding debentures, issues shares, and extends maturity date
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Cathedra Bitcoin Inc. (TSX-V: CBIT; OTCQB: CBTTF) reported a successful third quarter in 2023, with an increase in mining operations, production of 73.40 bitcoin, and revenue of $2.8 million. The company also filed a final base shelf prospectus and entered into a binding term sheet to settle outstanding principal of senior secured convertible debentures. The completion of the initial deployment under a partnership with 360 Mining and the active bitcoin mining hash rate totaling 355 PH/s across three states in the United States are significant operational highlights.
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Cathedra Bitcoin Inc. (CBIT) expects to settle a portion of outstanding debentures equal to up to C$10,946,706 into common shares. The company also intends to amend the maturity date of the remaining debentures and believes the proposed debt settlement will optimize its capital structure.
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Cathedra Bitcoin Inc. announces the launch of CathedraOS, an aftermarket software product for bitcoin mining machines. Miners can download the firmware for free, and Cathedra will receive a share of the hash rate as a developer fee. The company aims to diversify revenue streams and expand hash rate with minimal capex and opex.
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Cathedra Bitcoin Inc. announces updates on its mining operations, including underclocking machines to increase operating profits. Fleetwide hash rate reduced to 355 PH/s and breakeven hash price lowered to US$43/PH/s/day. Also, completed initial deployment of off-grid mining partnership with 360 Mining in Texas. Relocated machines from Kentucky to Tennessee data centers.
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Cathedra Bitcoin Inc. files final base shelf prospectus with securities regulatory authorities in Canada.
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Cathedra Bitcoin announces successful AGM, elects management nominees to board of directors.
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Cathedra Bitcoin Inc. announces Q2 2023 financial and operational highlights. Mining operations produced 77.15 gross bitcoin, an increase of 19.50 bitcoin from Q2 2022. Revenue increased to C$2.9 million compared to C$2.5 million in Q2 2022. Company settled C$2.5 million of outstanding debt. Cash and bitcoin liquidity totaled approximately C$4.4 million. Strategic partnership with 360 Mining expands operating footprint to Texas. Active bitcoin mining hash rate is 387 PH/s across four states and six locations in the United States.
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Cathedra Bitcoin announces updates on its mining operations, including the installation of additional machines and a renewed hosting agreement. The company's hash rate is now at 382 PH/s, capable of producing approximately 29 bitcoin per month. Cathedra also plans to deploy its first Rover in Texas in the coming weeks.
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FAQ
What is the current stock price of CATHEDRA BITCOIN SUB VTG (CBTTF)?
The current stock price of CATHEDRA BITCOIN SUB VTG (CBTTF) is $0.0551 as of October 15, 2024.
What is the market cap of CATHEDRA BITCOIN SUB VTG (CBTTF)?
The market cap of CATHEDRA BITCOIN SUB VTG (CBTTF) is approximately 14.1M.
Where is Cathedra Bitcoin Inc. based?
Cathedra Bitcoin Inc. is based in Toronto, Ontario.
What is the focus of Cathedra Bitcoin Inc.'s operations?
Cathedra Bitcoin Inc. focuses on bitcoin mining operations across multiple locations in the United States.
What was the impact of the 2024 Halving event on Cathedra Bitcoin Inc.?
The 2024 Halving event prompted Cathedra Bitcoin Inc. to adjust its mining operations to improve cash flow.
What are the company's plans regarding a merger with Kungsleden, Inc.?
Cathedra Bitcoin Inc. aims to diversify its revenue streams through a strategic merger with Kungsleden, Inc., focusing on the hosting model.
What are the future prospects for Cathedra Bitcoin Inc. in the digital currency landscape?
Cathedra Bitcoin Inc. remains optimistic about the future of bitcoin mining and is prepared to capitalize on emerging opportunities within the industry.
CATHEDRA BITCOIN SUB VTG