Cathedra Bitcoin Inc Stock Price, News & Analysis

Cathedra Bitcoin (CBTTF) reported Q1 2025 financial results with revenues of C$6.5M, up 11% YoY. The company prepaid C$5.7M of convertible debentures at a 20% discount and secured a new US$2.5M loan backed by 50 bitcoin at 13% interest. Cathedra holds C$8.1M in total liquidity, including 52.5 bitcoin. The company announced a new 10MW power agreement in Tennessee with expected power costs of US$30/MWh, partnered with Synota for improved payment processing, and expects to close the sale of its North Dakota Facility joint venture for US$21M. Management highlighted their all-weather strategy combining hosting services with bitcoin mining exposure, and continues to work towards a major U.S. stock exchange listing.

Cathedra Bitcoin (OTCQB: CBTTF), a bitcoin infrastructure company focused on maximizing per-share bitcoin holdings, has announced its May 2025 conference schedule. Drew Armstrong, the company's President & COO, participated in panel discussions at Consensus 2025 in Toronto, covering topics on AI, High Performance Compute Strategies for Bitcoin Miners, and Financing and Treasury Strategies.

Armstrong is also scheduled to speak at Bitcoin 2025 in Las Vegas on May 28th at 11:30am local time, where he will participate in a Treasury Management panel discussion. Recordings and live webcasts of the presentations will be available on Cathedra's website and Twitter.

Cathedra Bitcoin (TSXV: CBIT) (OTCQB: CBTTF) has purchased and cancelled 14,205,000 subordinate voting share purchase warrants for US$75,002. The warrants had a C$0.12 exercise price with varying expiration dates: 5 million warrants expiring March 26, 2026, 3.205 million expiring November 11, 2026, and 6 million expiring June 9, 2027.

This recent transaction, combined with a previous warrant repurchase announced on March 24, 2025, brings the total number of cancelled warrants to nearly 25 million. CEO Antonin Scalia emphasized that this strategic move takes advantage of stock volatility to eliminate potential future dilution and enhance shareholder value.

Cathedra Bitcoin (CBTTF) reported strong financial results for Q4 and full-year 2024. Revenue reached C$23.1 million, up 55% from 2023, while shareholders' equity surged 1,134% to C$28.3 million. The company prepaid C$4.6 million of convertible debentures at a 20% discount and secured a new US$2.5 million bitcoin-backed loan. Key operational highlights include completing the Kungsleden merger, adding 45MW of bitcoin mining capacity, and entering new profit-sharing agreements. As of April 2025, Cathedra holds 53.2 bitcoin (worth C$7.0 million) and C$0.2 million in cash. The company also announced a restatement of Q3-2024 filings due to accounting errors in Kungsleden's historical statements, though this doesn't affect operations or cash position.

Cathedra Bitcoin (CBTTF) announces plans to restate its Q3-2024 financial statements due to accounting errors discovered during the preparation of year-end 2024 filings. The restatement primarily stems from errors in the historical financial statements of Kungsleden Inc., which Cathedra acquired through a business combination on July 23, 2024.

The key issues requiring restatement include: (1) the need to consolidate the Company's North Dakota data center joint venture, which was deemed to be under Company control; (2) different judgments in accounting estimates for lease arrangements; and (3) misstatements in Kungsleden's opening balances affecting Q3-2024 financials.

The Company expects to file the restated Q3-2024 documents around April 30, 2025. Importantly, the restatement does not reflect any changes in operations or business performance, and is not expected to impact the Company's cash balance as of September 30, 2024, or net cash flow changes for the nine months ended September 30, 2024.

Cathedra Bitcoin (CBTTF) has successfully restructured its debt obligations through a favorable agreement announced on March 24, 2025. The company settled C$5.73 million in convertible debentures by paying C$4.59 million, securing a 20% discount on the outstanding principal amount.

Key aspects of the restructuring include:

• Retirement of 10.9 million warrants that were exercisable at C$0.12 per share until November 2026
• Securing a new US$2.49 million loan with 13% annual interest, maturing March 18, 2026
• The new loan is secured by approximately 50 bitcoin, replacing the previous all-asset lien

This restructuring has reduced Cathedra's debt obligations by approximately C$2.16 million while preventing potential share dilution and providing greater balance sheet flexibility.

Cathedra Bitcoin (TSXV: CBIT) (OTCQB: CBTTF) has announced the sale of its 25% stake in a 60-megawatt bitcoin mining data center in North Dakota through a binding agreement worth US$21.0 million. The facility, developed through a joint venture called Tirpitz Technology Holdco , was constructed between Q1 and Q4 2024.

The transaction, agreed upon on December 18, 2024, was subject to performance milestones that have now been met. Cathedra expects to achieve an internal rate of return exceeding 60% on its equity contribution to the joint venture. The company plans to use the proceeds to develop new data centers, acquire additional bitcoin for long-term reserves, and increase cash holdings.

Currently, Cathedra holds approximately 50.5 bitcoin, valued at approximately US$4.6 million, equivalent to 6 satoshis per share.

Cathedra Bitcoin (TSXV: CBIT) (OTCQB: CBTTF) has announced a strategic partnership with Synota, a software company specializing in automated payments for C&I energy and hosting contracts. Through this collaboration, Cathedra will implement Synota's tools to enable daily or weekly settlement of hosting bills, enhancing cash flow management and reducing financial risk.

The partnership offers Cathedra increased flexibility in bitcoin accumulation by providing options to receive hosting payments in either U.S. dollars or bitcoin. Synota's platform integrates various payment rails to streamline payment processes and simplify back-office operations. This collaboration aims to improve operational efficiency while enabling Cathedra to optimize its bitcoin acquisition strategy through direct streaming from hosting operations.

Cathedra Bitcoin (TSXV: CBIT) (OTCQB: CBTTF) has signed a new 10-megawatt power purchase agreement for a potential greenfield bitcoin mining data center in Tennessee. This would be the company's second site in the state, following similar power rate schedules as existing regional facilities.

The project could become fully operational within three months of receiving final regulatory approvals. Cathedra confirms it can fully fund the construction using existing balance sheet resources. As of the announcement, the company holds approximately 49.3 bitcoin, valued at approximately US$4.8 million, equivalent to about 6 satoshis per share.