- TSX-V: CBITC$0.10
- OTCQX: CBTTF US$0.07
- CBIT Total Active Hash Rate: 343 PH/S
Cathedra Bitcoin Begins Production of "Bitcoin Mining Rovers" in Northern New Hampshire
TORONTO, Mar. 17, 2022 (BUSINESS WIRE) (Block Height: 727,763) – Cathedra Bitcoin Inc. (TSX-V: CBIT; OTCQX: CBTTF) (the “Company” or “Cathedra”), a Bitcoin company that develops and operates world-class bitcoin mining infrastructure, is pleased to announce it has begun the manufacturing process for its proprietary mobile data centers (the "Bitcoin Mining Rovers" or "Rovers"), which will house the bitcoin mining machines ordered by the Company in November 2021 (together, the "Machine Orders"). The Company’s in-house engineering team recently completed the initial Rover design and began the fabrication process. The Rovers are designed to be modular and mobile, allowing Cathedra to manufacture them at a rapid pace and deploy them wherever the cheapest power is found, in both on- and off-grid environments.
"Developing our own in-house design and manufacturing capabilities has been a top priority for us. Vertical integration will allow us to control our supply chain and rate of expansion to a greater degree, in addition to giving us a cost advantage over our competitors," added AJ Scalia, Chief Executive Officer of Cathedra Bitcoin.
Production and assembly of the Rovers will take place in Berlin, New Hampshire, and will continue throughout the course of 2022 and beyond. The Company expects incoming machines from the Machine Orders to be deployed in the completed Rovers incrementally as they arrive.
Cathedra’s Chief Field Operations and Manufacturing Officer, Isaac Fithian, remarked, “Berlin is an industrial city, forged through grit and an honest day’s work. At its peak, Berlin was once the largest producer of paper in the world. For much of human history, paper has provided a means of remembrance and the promise that an honest day’s work will not be forgotten. Cathedra will hold to this same promise. Our Rovers will protect the most secure monetary ledger conceived by mankind. Through grit and an honest day's work, we are building a world-class company. It is exciting to start the next chapter of our journey in ‘the city that trees built.’”
“This is exciting news for the Berlin area and the North Country of New Hampshire. Bringing technology companies to the area will create high-quality jobs and attract and retain youth in the area, which we strive to do,” added Benoit Lamontagne, North Country Industrial Agent at the State of New Hampshire’s Division of Economic Development, who has been working with representatives of the Company.
About Cathedra Bitcoin
Cathedra Bitcoin Inc. (TSX-V: CBIT; OTCQX: CBTTF) is a Bitcoin company that develops and operates world-class bitcoin mining infrastructure.
Cathedra believes sound money and 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 187 PH/s across various sites around the United States and expects to deploy an additional 538 PH/s in 2022. Upon the full deployment of its purchased machines, Cathedra’s hash rate is expected to total 725 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 or follow Company news on Twitter at @CathedraBitcoin.
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