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Cathedra Bitcoin Announces Execution of New 10-Megawatt Power Purchase Agreement
Toronto, Ontario--(Newsfile Corp. - January 6, 2025) - (Block Height: 878,000) - Cathedra Bitcoin...
About this update from Cathedra Bitcoin Inc
[{"type":"text","content":"Cathedra Bitcoin Announces Execution of New 10-Megawatt Power Purchase AgreementToronto, Ontario--(Newsfile Corp. - January 6, 2025) - (Block Height: 878,000) - Cathedra Bitcoin Inc. (TSXV: CBIT) (OTCQB: CBTTF) (\"Cathedra\" or the \"Company\"), a bitcoin company that develops and operates digital infrastructure assets with the goal of maximizing its per-share bitcoin holdings, is pleased to announce that it has entered into a new 10-megawatt power purchase agreement (the \"PPA\") in connection with a potential greenfield bitcoin mining data center development in Tennessee. This would mark the Company's second site in Tennessee and would follow a similar power rate schedule as the Company's existing sites in the region. Upon final regulatory approvals, the Company intends to begin construction on the new site, which could be fully operational in as little as three months thereafter. The Company is capable of fully funding the construction using its existing balance sheet resources. At time of publishing, the Company holds approximately 49.3 bitcoin worth approximately US$4.8 million and amounting to approximately 6 satoshis (or \"sats\") per share.About Cathedra BitcoinCathedra Bitcoin Inc. develops and operates digital infrastructure assets across North America with the goal of maximizing its per-share bitcoin holdings. The Company hosts bitcoin mining clients across its portfolio of three data centers (30 megawatts total) in Tennessee and Kentucky, as well as a 60-megawatt data center in North Dakota, a joint venture in which Cathedra is a 25% partner. Cathedra also operates a fleet of proprietary bitcoin mining machines at its own and third-party data centers, producing approximately 400 PH/s of hash rate. Cathedra is headquartered in Vancouver and its shares trade on the TSX Venture Exchange under the symbol CBIT and in the OTC market under the symbol CBTTF. For more information about Cathedra, visit cathedra.com or follow Company news on Twitter at @CathedraBitcoin or on Telegram at @CathedraBitcoin.Media and Investor Relations InquiriesPlease contact:AJ ScaliaChief Executive [email protected] StatementsThis news release contains certain \"forward-looking information\" and \"forward-looking statements\" within the meaning of applicable Canadian securities laws that are based on expectations, estimates an...