- TSX-V: CBITC$0.10
- OTCQB: CBTTF US$0.08
- CBIT Total Active Hash Rate: 382 PH/S
Cathedra Bitcoin Secures US$17m in Equipment Financing from NYDIG
February 4, 2022
TORONTO, Feb. 4, 2022 (BUSINESS WIRE) (Block Height: 721,788) – 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 it has entered into an equipment financing agreement with NYDIG ABL that will provide approximately US$17m in proceeds to fund the expansion of Cathedra’s diversified bitcoin mining operations. The Company will receive the first advance of approximately US$5.6m in the coming days. The outstanding principal bears interest at 14.0% per annum and will be repaid over the next 24 months, ending in January 2024. The debt is collateralized by Bitmain bitcoin mining machines purchased by the Company in 2021.
About Cathedra Bitcoin
Cathedra Bitcoin Inc. (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 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.
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