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.
Cathedra Bitcoin Inc. (OTCQB: CBTTF) is a bitcoin company that develops and operates power and digital infrastructure assets across North America. Its news flow centers on financial results, data center development, hosting partnerships, leadership changes, and capital structure updates related to its bitcoin mining and hosting activities.
Investors following CBTTF news can review regular financial results releases, where Cathedra reports quarterly revenue, net income or loss, and commentary on factors such as foreign exchange impacts and bitcoin-backed financing. The company also issues updates on data center expansion, including new 15 megawatt facilities, capacity increases at existing sites in Tennessee and Kentucky, and progress on high-potential infrastructure projects.
Cathedra’s news coverage includes announcements of hosting agreements with other mining businesses, such as Sphere 3D Mining Corp. and Compass Mining, which illustrate how the company combines hosting services with its own proprietary mining fleet. Leadership transitions, including the appointment of a new Chief Executive Officer and related governance changes, are also documented through formal press releases.
Corporate actions and financing developments feature prominently in Cathedra’s news. Examples include the approval and completion of a 30:1 share consolidation to streamline the capital structure, non-brokered private placements to fund infrastructure and power expansion, and grants of restricted share units and options under its long-term incentive plan. Shareholder letters and operational updates provide additional context on strategy, power sourcing, and capacity targets.
By monitoring this news stream, users can track how Cathedra manages its energy infrastructure, hosting relationships, and balance sheet in the bitcoin mining sector. The CBTTF news page aggregates these releases so readers can follow the company’s operational milestones and corporate decisions over time.
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.
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.