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.
About Cathedra Bitcoin Inc.
Cathedra Bitcoin Inc. (TSXV: CBIT, OTCQB: CBTTF) is a North American developer and operator of high-density compute infrastructure assets with a mission to maximize per-share bitcoin holdings for its shareholders. Headquartered in Vancouver, the company operates at the intersection of digital infrastructure and cryptocurrency, with a diversified portfolio that includes bitcoin mining, hosting services, and strategic partnerships.
Core Business Model
Cathedra Bitcoin employs a hybrid business model that combines self-mining bitcoin operations with hosting services for institutional clients. This dual approach allows the company to generate revenue from mining bitcoin using its proprietary fleet of machines, while also leveraging its data center infrastructure to host third-party clients under fixed-rate and profit-sharing agreements. By diversifying its revenue streams, Cathedra mitigates risks associated with bitcoin price volatility and network difficulty increases.
Infrastructure and Operations
The company owns and operates a portfolio of data centers across North America, including facilities in Tennessee, Kentucky, and North Dakota. These data centers collectively offer over 95 megawatts of capacity, with Cathedra holding a 25% stake in its 60-megawatt North Dakota facility through a joint venture. The company also recently announced plans to develop an additional 10-megawatt greenfield bitcoin mining data center in Tennessee, further expanding its operational footprint.
Strategic Partnerships and Innovation
Cathedra has established key partnerships to enhance its operational efficiency and market reach. Notable collaborations include a profit-sharing agreement with Compass Mining to host 10 megawatts of bitcoin mining equipment and a partnership with Synota Inc. to streamline hosting payments through automated settlement tools. These partnerships not only improve cash flow cycles but also align with Cathedra's goal of accumulating bitcoin opportunistically.
Market Position and Differentiation
In a competitive landscape that includes major players like Riot Platforms and Marathon Digital Holdings, Cathedra differentiates itself through its hybrid operational model and focus on bitcoin-per-share maximization. The company's profit-sharing agreements and hosting services provide a stable revenue base, while its self-mining operations offer upside potential in bullish bitcoin markets. Additionally, its strategic merger with Kungsleden has significantly expanded its data center capacity and hosting capabilities, positioning it as a versatile player in the digital infrastructure sector.
Commitment to Sustainability
Cathedra is committed to optimizing energy efficiency across its operations. The company participates in demand-response programs, such as those offered by the Tennessee Valley Authority, to align its energy usage with grid stability requirements. These initiatives not only reduce operational costs but also contribute to a more sustainable energy footprint.
Future Outlook
Looking ahead, Cathedra aims to continue expanding its data center portfolio and hosting services while maintaining a focus on maximizing bitcoin-per-share holdings. The company is also preparing for a potential listing on a major U.S. stock exchange, which could enhance its visibility and accessibility to investors. By leveraging its diversified business model and strategic partnerships, Cathedra is well-positioned to navigate the evolving cryptocurrency landscape.
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.
Cathedra Bitcoin Inc. (TSX-V: CBIT; OTCQX: CBTTF) has provided operational updates regarding the sale and deployment of its bitcoin mining machines. In a previous agreement, it purchased 600 Antminer S19 XP machines, selling 400 of them for US$4.1 million but faced delivery refusal for the final 200 due to shipping delays. As of January 20, 2023, 150 of these machines were deployed in Tennessee, contributing to a total hash rate of approximately 247 PH/s across operations in the U.S. Cathedra aims to optimize the use of its remaining mining equipment as part of its growth strategy.
Cathedra Bitcoin Inc. (TSX-V: CBIT; OTCQX: CBTTF) announces significant operational updates, including the receipt of 1,385 Bitmain Antminer S19J Pro machines to enhance mining capabilities. The company optimized its operations through underclocking, improving efficiency to approximately 23 J/TH from 35 J/TH. In December, Cathedra prepaid a $270,690 equipment loan and raised $683,398 from credit sales. To conserve cash, it has reduced corporate salaries, saving $285,000 annually. The company now holds $3,227,000 in cash equivalents, focusing on maintaining positive EBITDA in challenging market conditions.
Cathedra Bitcoin Inc. (TSX-V: CBIT; OTCQX: CBTTF) reported Q3 2022 revenue of approximately
Cathedra Bitcoin Inc. (TSX-V: CBIT; OTCQX: CBTTF) has reported significant operational changes aimed at reducing costs and improving cash flow, including a 60% payroll cut and lease cancellations. Despite challenging bitcoin mining conditions, the company maintains positive operating cash flow from its 203 PH/s hash rate, generating US$414,640 over 30 days. The final shipment of 2,135 Antminer S19J Pros is in transit, with deployment strategies in consideration. CEO AJ Scalia emphasized the focus on company survival during this period to enable shareholder benefits in future market cycles.
Cathedra Bitcoin Inc. (TSX-V: CBIT; OTCQX: CBTTF) has granted 487,244 restricted share units (RSUs) to an officer as part of its equity compensation plan. The RSUs will vest over a period of 24 months, with 60% vesting one year after October 25, 2022, and the remainder vesting every six months thereafter. Cathedra operates bitcoin mining infrastructure with a total hash rate of 203 PH/s across multiple locations in the U.S. The RSUs will expire on October 25, 2027.
Cathedra Bitcoin Inc. (TSX-V: CBIT; OTCQX: CBTTF) has provided updates regarding its bitcoin mining operations. The Company completed the installation of 372 Bitmain Antminer S19J Pro machines, producing around 203 PH/s, following a hosting agreement in Tennessee. A partnership with Great American Mining ended, with plans to redeploy remaining machines. The Company anticipates deploying additional machines by Q4 2022, potentially increasing its hash rate to 417 PH/s. Furthermore, a long-term equity incentive plan has been adopted, approved by shareholders on September 6, 2022.
FAQ
What is the current stock price of Cathedra Bitcoin (CBTTF)?
What is the market cap of Cathedra Bitcoin (CBTTF)?
What does Cathedra Bitcoin Inc. do?
What is Cathedra's primary business model?
Where are Cathedra's data centers located?
How does Cathedra differentiate itself from competitors?
What partnerships has Cathedra formed recently?
Is Cathedra planning to expand its operations?
What is Cathedra's approach to sustainability?
What is Cathedra's ticker symbol?
