CATHEDRA BITCOIN SUB VTG - CBTTF STOCK NEWS

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 C$1.49 million, a slight decline from C$1.55 million in Q3 2021, attributed to a 50% drop in Bitcoin prices. The company expanded its mining operations significantly, installing 522 Antminer S19J Pro machines in Kentucky and 372 in Tennessee, increasing its hash rate to approximately 203 PH/s. Management emphasizes liquidity preservation amid challenging market conditions, noting their long-term optimistic outlook on Bitcoin.

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.

Cathedra Bitcoin Inc. (TSX-V: CBIT; OTCQX: CBTTF) held its Annual General and Special Meeting on September 6, 2022. Shareholders elected five management nominees for the board, ensuring continuity in leadership. Additionally, shareholders approved a long-term incentive plan aimed at aligning management interests with those of shareholders. Cathedra operates a robust bitcoin mining infrastructure totaling 166 PH/s across four U.S. locations, aiming for further growth through diversified energy sources.

Cathedra Bitcoin Inc. (TSX-V: CBIT; OTCQX: CBTTF) announced strong Q2 2022 results, reporting revenue of approximately C$2.53 million, up from C$0.62 million in Q2 2021. The company strengthened its liquidity by closing private placements totaling C$9.33 million and liquidating bitcoin holdings for C$8.77 million. Cathedra also restructured its operations by selling 600 mining machines and repaying equipment loans. The active hash rate stood at 231 PH/s despite a slight decline due to decommissioning efforts. Management remains committed to long-term growth amidst market challenges.

Cathedra Bitcoin Inc. (TSX-V: CBIT; OTCQX: CBTTF) has provided important operational updates concerning its bitcoin mining infrastructure. The company installed 522 Bitmain Antminer S19J Pro machines, boosting its hash rate by 52 PH/s. Delays continue for 372 machines expected soon, while a reduced order of 635 from the July batch is anticipated. In North Dakota, Cathedra decommissioned about 950 mining machines and plans future redeployment. The company is also advancing its manufacturing capabilities for proprietary bitcoin mining datacenters, focusing on efficiency amid market challenges.

Cathedra Bitcoin Inc. (TSX-V: CBIT; OTCQX: CBTTF) announced operational updates, including the installation of 375 Bitmain Antminer S19J Pro machines, boosting its bitcoin mining hash rate by 38 PH/s. The company has delayed the delivery of an additional 372 machines due to market conditions. They also sold 600 S19 XP machines for US$4,116,000, using proceeds to reduce a C$25,000,000 convertible debenture. Additionally, 400 underperforming machines were decommissioned at the North Dakota Mine, helping to lower operational costs.