Home Bitcoin News Cathedra Bitcoin Proclaims Fourth Quarter and Full-Yr 2021 Monetary Outcomes

Cathedra Bitcoin Proclaims Fourth Quarter and Full-Yr 2021 Monetary Outcomes

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TORONTO–()–Cathedra Bitcoin Inc. (TSX-V: CBIT; OTCQX: CBTTF) (“Cathedra”), a Bitcoin firm that develops and operates world-class bitcoin mining infrastructure, right this moment pronounces its fourth quarter and full-year audited monetary outcomes for 2021:

Fiscal Yr 2021 Monetary Highlights

  • Elevated whole income by 660% to C$7.8 million in 2021, in comparison with C$1.0 million in 2020.
  • Elevated mined bitcoin by 131% to 120.2 BTC in 2021, in comparison with 52.1 BTC in 2020.
  • Elevated gross mining margins to 53% in 2021 (calculated as mining income much less direct working prices), in comparison with 8% in 2020.
  • Elevated bitcoin held in treasury by 1% to 169.3 BTC as of December 31, 2021, in comparison with 168.2 BTC as of December 31, 2020, greater than offsetting the sale of 208.1 BTC effected beneath earlier administration.
  • Elevated totally diluted sats (0.00000001 BTC) mined per share by 45% to 107 sats in 2021, in comparison with 73 sats in 2020.
  • Raised C$9.3 million in a purchased deal personal placement fairness financing.
  • Raised C$25.0 million in a non-brokered convertible debt personal placement from institutional traders.

Fiscal Yr 2021 Operational Highlights

  • Elevated deployed hash charge by 812% to 177 PH/s as of December 31, 2021, in comparison with 19 PH/s as of December 31, 2020.
  • Elevated contracted hash charge by 3,637% to 725 PH/s as of December 31, 2021, in comparison with 19 PH/s as of December 31, 2020.
  • Launched a strategic partnership with Nice American Mining, beneath which Cathedra deployed 6.7 MW of mining infrastructure and gear on flare fuel websites in North Dakota.
  • Invested in 5,100 Bitmain Antminer S19j Professional and S19 XP bitcoin mining machines, which can enhance Cathedra’s hash charge to 725 PH/s when totally put in in 2022.
  • Accomplished a management transition, appointing AJ Scalia and Drew Armstrong as CEO and President/COO, respectively, and appointing AJ Scalia, Drew Armstrong, and Marcus Dent to the Firm’s board of administrators.
  • Rebranded from Fortress Applied sciences Inc. to Cathedra Bitcoin Inc. to mirror new administration’s aspirations for the Firm and for Bitcoin as daring, formidable, long-term initiatives of civilizational significance.

2022 Strategic Priorities

  • Start the method of vertical integration by manufacturing proprietary modular datacenters (“Rovers”) which could be deployed in each on- and off-grid environments, wherever the most cost effective energy is discovered. All Rovers are being manufactured in New Hampshire, USA.
  • Increase the Firm’s bitcoin mining hash charge by implementing a diversified method to web site choice and operations, combining off-grid and on-grid mining.
  • Proceed constructing the Firm’s bitcoin treasury by hodling all mined bitcoin.
  • Pursue a Nasdaq itemizing to extend the liquidity, buying and selling volumes, and profile of the Firm’s inventory and unlock further capital for growth.

Administration Commentary

“2021 was a transformative 12 months for Cathedra. We appointed a brand new management staff that continues to develop; introduced a brand new company mission centered on delivering sound cash and considerable vitality to humanity; launched a brand new identify and model to mirror the brand new staff’s long-term imaginative and prescient; and adopted a brand new technique centered on vertical integration and a diversified method to bitcoin mining. We’ll proceed to construct Cathedra Bitcoin into the category-defining enterprise on the intersection of cash and vitality in 2022 and the many years to return,” remarked AJ Scalia, CEO of Cathedra.

For administration’s full ideas on the route of the Firm, please view their 2021 letter to Cathedra Bitcoin shareholders at: www.cathedra.com/investors/letters/2021-letter-to-shareholders.

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 considerable vitality are the elemental components to human progress and is dedicated to advancing each by working intently with the vitality sector to safe the Bitcoin community. At the moment, Cathedra owns 187 PH/s throughout numerous websites round the US and expects to deploy an extra 538 PH/s in 2022. Upon the complete deployment of its bought machines, Cathedra’s hash charge is anticipated to whole 725 PH/s. The Firm is targeted on increasing its portfolio of hash charge via a diversified method to web site choice and operations, using a number of vitality sources throughout numerous jurisdictions.

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

Cautionary Assertion

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

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

Ahead-Wanting Statements

This information launch accommodates sure “forward-looking info” throughout 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 data on this launch about future plans and goals of the Firm, are forward-looking info. Different forward-looking info contains however shouldn’t be 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’ skill to efficiently mine digital foreign money; income growing as at present 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 unfavorable impression on the Firm’s operations; the development and operation of expanded blockchain infrastructure as at present deliberate; and the regulatory surroundings of cryptocurrency in relevant jurisdictions.

Any statements that contain discussions with respect to predictions, expectations, beliefs, plans, projections, goals, assumptions, future occasions or efficiency (usually however not all the time utilizing phrases reminiscent of “expects”, or “doesn’t count on”, “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 “might” or “might”, “would”, “may” or “will” be taken to happen or be achieved) usually are not statements of historic reality and could also be forward-looking info and are meant to establish forward-looking info.

This forward-looking info is predicated on cheap assumptions and estimates of administration of the Firm on the time it was made, and entails identified and unknown dangers, uncertainties and different elements 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 elements embody, amongst others: the power of the Firm to attain its company goals or in any other case advance the progress of the Firm; dangers associated to the worldwide operations; the Firm’s lack of ability to acquire any crucial permits, consents or authorizations required for its actions; an lack of ability to foretell and counteract the consequences of COVID-19 on the enterprise of the Firm, together with however not restricted to the consequences of COVID-19 on capital market circumstances, restriction on labor and worldwide journey and provide chains; normal market and trade circumstances; 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 establish essential elements that might trigger precise outcomes to vary materially, there could also be different elements that trigger outcomes to not be as anticipated, estimated or meant. There could be no assurance that such statements will show to be correct as precise outcomes and future occasions might differ materially from these anticipated in such statements. Accordingly, readers shouldn’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 legislation.

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