Post by
mrmomo on Mar 07, 2024 7:26pm
Yikes...that's one messed up RTO!!!
And after quickly browsing through it, it doesn't look to appetizing or promissing for current Cathedra s/h. Was gonna wait until 2morrow beforep osting any commentary, but decided to end off the evening by giving my fellow Bitcoin enthusiasts a heads up & think about all this before mking any decision.
https://finance.yahoo.com/news/cathedra-bitcoin-kungsleden-inc-announce-224600179.html
Cathedra isn't a miner i follow too closely, but i'm familiar enough with it's operations to give my assessment of it and this transaction. They're a smallish, insignificant Canadian miner with 1/2 an EXhash of processing power and who nearly went under during the last Crypto winter over a year ago. But they survived, but just barely and not having progressed that much since. And with the Halving coming up next month, they were bascially DOA and coming ot the EndOfTheLine anyway. And the level they were at, it was only a mtter of time before they were insolvent thmeselves post Halving.
So whether s/h are happy with this or not, or if mgmt was smart to GTHO now or not, does not matter anymore, it's a DONE DEAL and there's not much anyone can do now but to decide wether to STAY & take the deal or SELL and move on. Personally, over the last year, anyone that asked about this company or when the name came up, i always told folks to STAY FAR away because much better options were avaible than them. And this wasn't even debatable.......
So for those of you not interested to stick around & looking to sell asap here, you might want to check out my lastest updated list for possible investments in this space. I will post the link below for those interested. For those of you who WILL take the deal, just make sure you read all the fine print because like i said, this doesn't look to great. It's one of the more complicated & convulted RTO's i've seen in my many years, with a lot of added pork. Just the 75 to 1 RS & 22.5% interest alonr gives me the willy nelly not to stick around.
Don't know how the market will take it when it re-opens, but i won't be holding my breath for anything too positive......that's for sure!
https://stockhouse.com/companies/bullboard?symbol=hut&postid=35912908
GLTA