- TSX-V: CBITC$0.17
- OTCQX: CBTTF US$0.12
- CBIT Total Active Hash Rate: 166 PH/S
Cathedra Bitcoin Announces Donation to Summer of Bitcoin
December 20, 2021
TORONTO, Dec. 20, 2021 (BUSINESS WIRE) – Cathedra Bitcoin Inc. (TSX-V: CBIT) (the “Company” or “Cathedra”), a Bitcoin company that develops and operates world-class bitcoin mining infrastructure, is pleased to announce that it will donate US$50,000 of bitcoin to Summer of Bitcoin, a global summer internship program focused on introducing university students to Bitcoin and open-source development. The donation from Cathedra is the first of many meant to strengthen Bitcoin the network and protect the Company’s investment in bitcoin the asset. Cathedra plans to expand its support for Bitcoin development as its bitcoin mining operations grow.
“As the history of Bitcoin has shown us, miners are but one part of the network,” said Drew Armstrong, President and COO of Cathedra. “It is important that we do our part to support other aspects of the network, especially open-source developers that can help ensure a bright future for Bitcoin; to this end, we are excited to work with Summer of Bitcoin to enable this next generation of talent and help diversify Bitcoin’s contributor base beyond the US and Western Europe,” Armstrong added.
Director of Summer of Bitcoin, Adi Shankara, commented “We are incredibly thankful for the generous financial support by Cathedra Bitcoin. Summer of Bitcoin serves to grow and decentralize the pipeline of open-source developers contributing to Bitcoin, and this donation from Cathedra Bitcoin will go a long way toward fulfilling our mission."
About Cathedra Bitcoin
Cathedra Bitcoin (TSX-V: CBIT) is a Bitcoin company that develops and operates world-class bitcoin mining infrastructure.
Cathedra believes sound money and cheap, abundant energy are the fundamental ingredients to human progress, and is committed to advancing both by working closely with the energy sector to secure the Bitcoin network. Today, Cathedra owns 177 PH/s across various sites around the United States and expects to deploy an additional 18 PH/s and 534 PH/s in Q4 2021 and 2022, respectively. Upon the full deployment of its purchased machines, Cathedra’s hash rate is expected to total 729 PH/s. The Company is focused on 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.
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