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.
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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.
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