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Cathedra Bitcoin Broadcasts Cargo of First Batch of Bitmain Machines

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TORONTO, April 29, 2022–(BUSINESS WIRE)–(Block Top: 734,131) – Cathedra Bitcoin Inc. (TSX-V: CBIT; OTCQX: CBTTF) (“Cathedra“), a Bitcoin firm that develops and operates world-class bitcoin mining infrastructure, as we speak pronounces its first batch of 750 new Bitmain Antminer S19j Professional mining machines has shipped and is anticipated to be delivered to the Firm’s Washington facility within the coming days.

560 of the brand new machines shall be put in on the Firm’s Washington facility, the place they are going to change totally depreciated Bitmain Antminer S9 machines and are anticipated to extend Cathedra’s hash fee by 35 PH/s to a complete of 67 PH/s.

The remaining 190 machines shall be delivered to the Firm’s New Hampshire manufacturing facility, the place they are going to be used to check the primary accomplished batch of Cathedra’s bitcoin mining rovers—modular, cell bitcoin mining datacenters.

Cathedra has bought an extra 4,350 latest-generation machines that shall be delivered in batches every month by means of the tip of the yr. The Firm expects to deploy these machines at a mix of on- and off-grid mining places, pursuant to its diversified method to website choice and operations. Upon full deployment, the Firm expects these machines to carry its complete hash fee to 725 PH/s by year-end.

About Cathedra Bitcoin

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

Cathedra believes sound cash and plentiful vitality are the basic components to human progress and is dedicated to advancing each by working intently with the vitality sector to safe the Bitcoin community. As we speak, Cathedra owns 187 PH/s throughout varied websites round the US and expects to deploy an extra 538 PH/s in 2022. Upon the total deployment of its bought machines, Cathedra’s hash fee is anticipated to complete 725 PH/s. The Firm is targeted on increasing its portfolio of hash fee by means of a diversified method to website choice and operations, using a number of vitality sources throughout varied jurisdictions.

For extra details about Cathedra, go to cathedra.com or comply with Firm information on Twitter at @CathedraBitcoin.

Cautionary Assertion

Buying and selling within the securities of the Firm needs to be thought-about extremely speculative. No inventory alternate, securities fee or different regulatory authority has accredited or disapproved the knowledge contained herein.

Neither the TSX Enterprise Alternate nor its Regulation Companies Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Alternate) accepts accountability for the adequacy or accuracy of this launch.

Ahead-Wanting Statements

This information launch accommodates sure “forward-looking info” inside the that means of relevant Canadian securities legal guidelines which might be primarily based on expectations, estimates and projections as on the date of this information launch. The knowledge on this launch about future plans and targets of the Firm, are forward-looking info. Different forward-looking info consists of however is just not restricted to info regarding: the anticipated deployment of an extra miners, the intentions and future actions of senior administration, the intentions, plans and future actions of the Firm, in addition to the Firm’ means to efficiently mine digital foreign money; income growing as at the moment anticipated; the power to profitably liquidate present and future digital foreign money stock; volatility of community issue and, digital foreign money costs and the ensuing important detrimental affect on the Firm’s operations; the development and operation of expanded blockchain infrastructure as at the moment deliberate; and the regulatory setting of cryptocurrency in relevant jurisdictions.

Any statements that contain discussions with respect to predictions, expectations, beliefs, plans, projections, targets, assumptions, future occasions or efficiency (usually however not at all times utilizing phrases comparable to “expects”, or “doesn’t anticipate”, “is anticipated”, “anticipates” or “doesn’t anticipate”, “plans”, “finances”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such phrases and phrases or stating that sure actions, occasions or outcomes “could” or “may”, “would”, “would possibly” or “will” be taken to happen or be achieved) aren’t statements of historic truth and could also be forward-looking info and are meant to determine forward-looking info.

This forward-looking info relies on cheap assumptions and estimates of administration of the Firm on the time it was made, and entails recognized and unknown dangers, uncertainties and different components which can trigger the precise outcomes, efficiency or achievements of the Firm to be materially completely different from any future outcomes, efficiency or achievements expressed or implied by such forward-looking info. Such components embody, amongst others: the power of the Firm to attain its company targets or in any other case advance the progress of the Firm; dangers associated to the worldwide operations; the Firm’s incapacity to acquire any essential permits, consents or authorizations required for its actions; an incapacity to foretell and counteract the results of COVID-19 on the enterprise of the Firm, together with however not restricted to the results of COVID-19 on capital market situations, restriction on labor and worldwide journey and provide chains; basic market and trade situations; and people dangers set out within the Firm’s public paperwork filed on SEDAR. The Firm has additionally assumed that no important occasions happen exterior of the Firm’s regular course of enterprise. Though the Firm has tried to determine essential components that might trigger precise outcomes to vary materially, there could also be different components that trigger outcomes to not be as anticipated, estimated or meant. There might be no assurance that such statements will show to be correct as precise outcomes and future occasions may differ materially from these anticipated in such statements. Accordingly, readers mustn’t place undue reliance on forward-looking info. The Firm undertakes no obligation to revise or replace any forward-looking info aside from as required by regulation.

View supply model on businesswire.com: https://www.businesswire.com/news/home/20220429005669/en/

Contacts

Cathedra Bitcoin Media and Investor Relations Inquiries
Please contact:
Sean Ty
Chief Monetary Officer
[email protected]




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