TORONTO–(BUSINESS WIRE)–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.
“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.
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.
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.
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