Toronto, Ontario--(Newsfile Corp. - June 27, 2024) - (Block Height: 849,650) - Cathedra Bitcoin Inc. (TSXV: CBIT) (OTCQB: CBTTF) ("Cathedra" or the "Company"), a diversified bitcoin mining company, is pleased to share management's 2024 letter to shareholders of the Company (the "Letter"). In it, CEO AJ Scalia and President and Chairmen Drew Armstrong share their thoughts on the Company's progression over the last three years, the current state of bitcoin mining, and the proposed merger with Kungsleden, Inc ("Kungsleden"). The Letter can be read in its entirety on Cathedra's website at: cathedra.com/investors/letters/.
About Cathedra Bitcoin
Cathedra Bitcoin Inc. (TSXV: CBIT) (OTCQB: CBTTF) is a Bitcoin company that believes sound money and abundant energy are the keys to human flourishing. The Company has diversified bitcoin mining operations which produce 355 PH/s across two states and four locations in the United States. The Company is focused on managing and expanding its portfolio of hash rate through a diversified approach to site selection and operations, utilizing multiple energy sources across various jurisdictions.
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 Inquiries
Please contact:
AJ Scalia
CEO
ir@cathedra.com
Cautionary Statement
Trading in the securities of the Company should be considered highly speculative. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This 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 and projections as at the date of this news release. The information in this release and the Letter about future plans and objectives of the Company and Kungsleden, are forward-looking information. Other forward-looking information includes but is not limited to information concerning: the Company's intentions with respect to the proposed merger, the Company's intention to list on a U.S. stock exchange, the proposed timing of the U.S. Listing, access to capital, and liquidity, to the benefit of all shareholders, the Company's beliefs about the future of Bitcoin as a dominant global reserve asset in the 21st century, that Bitcoin's total addressable market will increase, that demand for compute will increase, that the proposed merger with Kungsleden will close, the ability of the Company to maintain similar unit economics as Kungsleden for the Company's future hosting facilities, the beliefs underlying the reasons that the Kungsleden merger is attractive to the company, the ability of the COmpany to diversify revenue streams post-merger, the ability to secure additional land, rack space and data centers, the potential to expand to new verticals, the potential for accretive growth and the belief that the merger will transform the Company for the better. Any statements that involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information.
Additionally, these forward-looking statements may be affected by risks and uncertainties in the business of Cathedra and Kungsleden and general market conditions. Investors are cautioned that forward-looking statements are not based on historical facts but instead reflect Cathedra's management's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although Cathedra believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed thereon, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking statements are the following: the ability to consummate the merger with Kungsleden; the ability to obtain requisite regulatory and third party approvals and the satisfaction of other conditions to the consummation of the merger and the consolidation on the proposed schedule and on the terms and conditions as presently contemplated; the potential impact of the merger on relationships, including with regulatory bodies, employees, customers and competitors; changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws and regulations both locally and in foreign jurisdictions; compliance with extensive government regulation and the costs associated with compliance; unanticipated costs;changes in market conditions impacting the average revenue per MWh; the risks and uncertainties associated with foreign markets; and the diversion of management time on the merger. Additionally, the forward-looking statements contained herein may be affected by risks and uncertainties in the business of Cathedra and Kungsleden and general market conditions. Please also refer to those risks set out in the public documents of Cathedra filed on www.sedarplus.ca.
Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended and such changes could be material. Readers should not place undue reliance on forward-looking information.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/214553
