CATHEDRA BITCOIN SUB VTG - CBTTF STOCK NEWS

Cathedra Bitcoin Inc. (TSX-V: CBIT; OTCQX: CBTTF) has announced significant operational updates regarding its bitcoin mining activities. The company has successfully deployed 490 Bitmain Antminer S19J Pro and 50 Antminer S19 XP machines in Kentucky, enhancing its total hash rate by approximately 56 PH/s. In Washington, 400 of 773 planned S19J Pro machines have been deployed, adding another 40 PH/s. Following these deployments, the company expects to reach a hash rate of about 378 PH/s, capable of mining approximately 31.2 bitcoin monthly. Cathedra has also resumed retaining a portion of mined bitcoin, currently holding 13.9 bitcoin in treasury, and plans to liquidate mined bitcoin to meet cash obligations.

Cathedra Bitcoin Inc. (TSX-V: CBIT; OTCQX: CBTTF) has announced a Debt Settlement for a portion of its senior secured convertible debentures, converting C$2,500,000 into 18,518,518 common shares at C$0.135 each. This transaction reduces the outstanding principal of the Debentures to approximately C$19.9 million, with interest continuing at 3.5% per annum until maturity due on November 11, 2024. The Debt Settlement aims to preserve cash for working capital. All securities are subject to a four-month hold period. The company operates bitcoin mining infrastructure with a total hash rate of 247 PH/s across multiple states in the U.S., focusing on a diversified portfolio of energy sources.

Cathedra Bitcoin Inc. (TSX-V: CBIT; OTCQX: CBTTF) has announced that Roy Sebag resigned from the Board of Directors effective April 4, 2023. Drew Armstrong, the President and COO, will now serve as Chairman. The Board is actively seeking Sebag's replacement. In his statement, Sebag cited personal and business commitments as reasons for his departure but expressed confidence in the company's management and his continued support as the largest individual shareholder. Armstrong acknowledged Sebag's contributions and emphasized the Board's commitment to find a qualified independent director shortly.

Cathedra Bitcoin Inc. (TSX-V: CBIT; OTCQX: CBTTF) announced it will convert C$2,500,000 of outstanding debentures into 18,518,518 common shares at C$0.135 each, preserving cash for operations. The debentures, totaling C$25,000,000 issued on November 11, 2021, have C$22,395,679.20 remaining as of now and carry a 3.5% interest rate. The settlement requires regulatory approval and will have a hold period of four months and one day. Cathedra operates bitcoin mining infrastructure across the U.S., totaling 247 PH/s.

Cathedra Bitcoin (TSX-V: CBIT; OTCQX: CBTTF) has approved a Debt Settlement to convert up to C$2.5 million of outstanding debentures into common shares, aimed at preserving working capital. The shares will be issued at a price of C$0.135 each, with the total principal amount of the debentures outstanding now being C$25 million. This settlement, tied to senior secured convertible debentures maturing on November 11, 2024, is contingent on TSX Venture Exchange approval and is expected to close soon. The remaining debentures will continue to bear interest of 3.5% per annum, payable quarterly.

Cathedra Bitcoin Inc. (TSX-V: CBIT; OTCQX: CBTTF) has provided updates on its diversified bitcoin mining operations. On February 3, 2023, the company entered a hosting agreement to deploy 490 Bitmain Antminer S19J Pro and 50 S19 XP machines at a Kentucky data center, expected by mid-February 2023. This will elevate the company's active hash rate to at least 378 PH/s, marking a 53% increase from the current 247 PH/s. The management highlighted the effective capacity utilization of their machines and a significant hash rate growth of 425% since new management took over in Q4 2021.

Cathedra Bitcoin Inc. (TSX-V: CBIT; OTCQX: CBTTF) announced a lease agreement for a 2.5-megawatt bitcoin mining facility in Washington State on January 29, 2023. The 24-month lease includes payments of US$108,000 per month and grants the company a right of first opportunity to purchase adjacent facilities totaling 10 megawatts. Cathedra also made an operating agreement, where a third-party service provider will manage its bitcoin mining machines in exchange for 10% of gross revenue. The deployment of 773 Antminer S19J Pro machines is expected by March 2023, aiming for a 30% increase in active hash rate to 322 PH/s.