TORONTO, April 29, 2022–(BUSINESS WIRE)–(Block height: 734,131) – Cathedra Bitcoin Inc. (TSX-V: CBIT; OTCQX: CBTTF) (“Cathedral“), a bitcoin company that develops and operates world-class bitcoin mining infrastructure, today announced that its first batch of 750 new Bitmain Antminer S19j Pro mining machines have been shipped and are expected to be delivered to the Washington facility of the company in the next few days.
560 of the new machines will be installed at the company’s facility in Washington, where they will replace fully depreciated Bitmain Antminer S9 machines and are expected to increase Cathedra’s hash rate by 35 PH/s for a total of 67 PH/s.
The remaining 190 machines will be delivered to the company’s manufacturing facility in New Hampshire, where they will be used to test Cathedra’s first full batch of bitcoin mining rovers, modular and mobile mining data centers. of bitcoins.
Cathedra has purchased an additional 4,350 latest generation machines which will be delivered in batches every month until the end of the year. The Company plans to deploy these machines at a mix of on- and off-grid mine sites, consistent with its diverse approach to site selection and operations. Once the rollout is complete, the company expects these machines to bring its 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 sound money and abundant energy are the fundamental ingredients of human progress and is committed to advancing both by working closely with the energy industry to secure the Bitcoin network. Today, Cathedra has 187 PH/s at various locations in the United States and plans to deploy an additional 538 PH/s in 2022. After full deployment of its purchased machines, Cathedra’s hash rate is expected to total 725 PH/s . The Company is focused on expanding its hash rate portfolio through a diversified approach to site selection and operations, utilizing multiple power sources in various jurisdictions.
Trading in the Company’s securities should be considered highly speculative. No stock exchange, securities commission or other regulatory authority has approved or disapproved of the information contained herein.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains certain “forward-looking information” within the meaning of applicable Canadian securities laws that is based on expectations, estimates and projections as of the date of this press release. The information contained in this press release on the future plans and objectives of the Company is forward-looking information. Other forward-looking information includes, but is not limited to, information regarding: the planned deployment of additional miners, senior management’s intentions and future actions, the Company’s intentions, plans and future actions, as well as the Company’s ability to successfully mine digital currency; revenues are growing as currently expected; the ability to profitably liquidate current and future digital currency inventory; volatility of network difficulties and digital currency prices and the resulting material adverse impact on the Company’s operations; building and operating an extensive blockchain infrastructure as currently planned; and the cryptocurrency regulatory environment in applicable jurisdictions.
Any statement involving discussion of predictions, expectations, beliefs, plans, projections, goals, assumptions, future events or performance (often, but not always, using phrases such as “expects “, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budgets”, “expects”, “expects”, “estimates”, “believes ” or “intends” or variations of these words and expressions or indicating that certain actions, events or results “might” or “may”, “will”, “could” or “will” be expected to occur or be achieved ) are not statements of historical fact and may be forward-looking information and are intended to identify-research information.
This forward-looking information is based on reasonable assumptions and estimates made by the Company’s management at the time it was made, and involves known and unknown risks, uncertainties and other factors that may cause results, actual performance or achievements of the Company are materially different from any future results, performance or achievements expressed or implied by such forward-looking information. These factors include, among others: the ability of the Company to achieve its corporate objectives or otherwise advance the progress of the Company; risks related to international operations; the Company’s inability to obtain permits, consents or authorizations necessary for its activities; an inability to predict and thwart 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 labor labor and international travel and supply chains; general market and industry conditions; and risks set forth in the Company’s public filings on SEDAR. The Company has also assumed that no material events occur outside of the normal course of business for the Company. Although the Company has attempted to identify important factors that could cause actual results to differ materially, other factors may cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company assumes no obligation to revise or update any forward-looking information other than as required by law.
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Cathedra Bitcoin Media and Investor Relations