Cathedra Bitcoin Announces Shipment of First Batch of Bitmain Machines

Toronto, April 29, 2022– (BUSINESS WIRE) – (Block Height: 734131) – Cathedra Bitcoin Inc. (TSX-V: CBIT; OTCQX: CBTTF) (“catedra‘), a Bitcoin company that develops and operates a world-class Bitcoin mining infrastructure, today announced that the first batch of 750 new Bitmain Antminer S19j Pro miners have shipped, and are expected to be delivered to the company’s Washington facility in the coming days.

560 of the new machines will be installed at the company’s Washington facility, where they will replace the fully depreciated Bitmain Antminer S9 machines and are expected to increase Cathedra’s hash rate by 35 PH/s to a total of 67 PH/s.

The remaining 190 devices will be delivered to the company’s manufacturing facility in New Hampshire, where they will be used to test the first completed batch of roaming bitcoin mining vehicles from Cathedra – modular and mobile bitcoin mining data centers.

Cathedra has purchased an additional 4,350 of the latest generation machines that will be delivered in batches each month through the end of the year. The company expects to deploy these machines to a range of on- and off-grid mining sites, according to its diverse approach to site selection and operations. Upon full deployment, the company expects these devices to raise the total hash rate to 725 PH/s by the end of the year.

About Cathedra Bitcoin

Cathedra Bitcoin Inc. (TSX-V: CBIT; OTCQX: CBTTF) is a bitcoin company that develops and operates a world-class bitcoin mining infrastructure.

Cathedra believes that healthy money and abundant energy are essential components of human progress and is committed to advancing both by working closely with the energy sector to secure the Bitcoin network. Today, Cathedra has 187 PH/s across various locations across the United States and expects to deploy an additional 538 PH/s in 2022. Upon full deployment of its purchased machines, Cathedra is expected to have a total hash rate of 725 PH/s. The company is focused on expanding its hash rate portfolio through a diversified approach to site selection and operations, using multiple power sources across different jurisdictions.

For more information on Cathedra, visit cathedra.com or follow company news on Twitter at Tweet embed.

cautionary statement

Trading in the company’s securities should be considered highly speculative. No stock exchange, Securities Commission or any other regulatory authority has approved or rejected the information contained herein.

Neither TSX Venture Exchange nor the Regulatory Services Provider (as defined in the TSX Venture Exchange policies) accept responsibility for the adequacy or accuracy of this release.

forward-looking statements

This press release contains certain “forward-looking information” within the meaning of applicable Canadian securities laws that are based on expectations, estimates and projections at the date of this press release. Information in this release about the company’s future plans and goals is forward-looking. Other forward-looking information includes but is not limited to information regarding: the expected deployment of additional miners, the future intentions and actions of senior management, the Company’s future intentions, plans and actions, as well as the Company’s ability to successfully mine digital currencies; Increase revenue as currently expected; the ability to profitably liquidate current and future cryptocurrency stocks; The fluctuation of network difficulty and cryptocurrency prices and the resulting significant negative impact on the company’s operations; Build and operate the extended blockchain infrastructure as currently planned; and the regulatory environment for cryptocurrency in applicable jurisdictions.

Any statements that include discussions regarding predictions, expectations, beliefs, plans, expectations, objectives, assumptions, events, or future performance (often but not always using phrases such as “expect,” “do not expect,” “expect,” “expect,” or Do not anticipate,” “plan,” “budget,” “scheduled,” “forecast,” “estimate,” “believe,” “intend,” or various forms of these words and phrases, or state that certain actions, events or outcomes “may “could,” “may,” “may,” or “will” be taken to occur or come true) are not statements of historical facts and may be forward-looking information intended to determine future-looking information.

Such forward-looking information is based on reasonable assumptions and estimates by the Company’s management at the time of its formation, and includes known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements to be achieved. materially different from any future results, performance or achievements expressed or implied by this forward-looking information. These factors include, among others: the company’s ability to achieve its corporate goals or otherwise advance the company’s progress; risks related to international operations; the inability of the Company to obtain any permits, approvals or permits necessary for its activities; the inability to predict and respond to the effects of COVID-19 on the Company’s business, including but not limited to the effects of COVID-19 on capital market conditions, restrictions on employment, international travel and supply chains; general market and industry conditions; And those risks set out in the company’s public documents filed on SEDAR. The company has also assumed that there are no significant events that fall outside the company’s normal business. Although the Company has attempted to identify significant factors that could cause actual results to differ materially, there may be other factors that cause results not to appear as expected, estimated or intended. There can be no assurance that such statements will prove to be accurate because actual results and future events could differ materially from those projected in such statements. Accordingly, readers should not rely excessively on forward-looking information. The Company undertakes no obligation to review or update any forward-looking information other than as required by law.

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Contacts

Media Inquiries and Investor Relations at Cathedra Bitcoin
Please contact:
Shun Tai
Chief Financial Officer
ir@cathedra.com

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