Cathedra Bitcoin Provides Updates on Operations and Merger With Kungsleden
Cathedra Bitcoin Provides Updates on Operations and Merger With Kungsleden
Toronto, Ontario--(Newsfile Corp. - June 4, 2024) - (Block Height: 846,418) - Cathedra Bitcoin Inc. (TSXV: CBIT) (OTC Pink: CBTTF) ("Cathedra" or the "Company"), a diversified bitcoin mining company, is pleased to announce the following updates on its bitcoin mining operations and the proposed merger with Kungsleden, Inc. (the "Transaction"), a developer and operator of alternative high-density compute infrastructure.
安大略省多伦多——(Newsfile Corp. - 2024年6月4日)——(块高:846,418)——Cathedra比特币公司(TSXV:CBIT)(OTC粉红股票:CBTTF)("'Cathedra'"),一家多元化的比特币矿业公司,很高兴就其比特币矿业业务和与Kungsleden,Inc.("'Kungsleden'"),一家替代性高密度计算基础设施的开发者和运营商的拟议合并提供以下更新。Cathedra"或"公司,一家多元化的比特币矿业公司,很高兴就其比特币矿业业务和与Kungsleden,Inc.("'Kungsleden'"),一家替代性高密度计算基础设施的开发者和运营商的拟议合并提供以下更新。交易,一家替代性高密度计算基础设施的开发者和运营商的拟议合并
Cathedra Operations Update
Cathedra业务更新
The fourth Bitcoin halving event occurred on April 19, 2024 (the "Halving"), reducing the new bitcoin issuance rate by 50% to 3.125 bitcoin per block. In response to the reduction in mining revenue, the Company resumed underclocking certain of its machines, as previously announced in a press release on May 30, 2024. In the last week, the Company completed its underclocking adjustments, further reducing power draw and hash rate to improve its fleet efficiency and cash flow. These changes are a continuation of the Company's strategy of using its aftermarket firmware, CathedraOS, to adjust machine settings and maximize cash flow based on prevailing mining conditions. Following these adjustments, the Company's fleetwide active hash rate has reduced to 355 PH/s, while fleetwide efficiency has improved to 26 J/TH from 29 J/TH prior to the Halving, reducing the Company's breakeven hash price to less than US$42/PH/s/day.
第四次比特币减半事件发生在2024年4月19日("'减半'"),将新的比特币发行率降低了50%,降至每个块的3.125个比特币。针对采矿收益减少,公司恢复了之前在2024年5月30日的新闻稿中宣布过的某些机器的下内功,上周,该公司完成了下内功的调整,进一步降低了功耗和哈希率,以提高其车队的效率和现金流。这些变化是公司使用其售后固件CathedraOS根据当前的采矿条件调整机器设置和最大化现金流的策略的延续。在进行这些调整后,公司的车队活跃哈希速率已降至355 PH/s,而车队效率已从减半之前的29 J/TH提高至26 J/TH,将公司的保本哈希价格降至不到每PH/s每天42美元。减半,将新的比特币发行率降低了50%,降至每个块的3.125个比特币。针对采矿收益减少,公司恢复了之前在2024年5月30日的新闻稿中宣布过的某些机器的下内功,上周,该公司完成了下内功的调整,进一步降低了功耗和哈希率,以提高其车队的效率和现金流。这些变化是公司使用其售后固件CathedraOS根据当前的采矿条件调整机器设置和最大化现金流的策略的延续。在进行这些调整后,公司的车队活跃哈希速率已降至355 PH/s,而车队效率已从减半之前的29 J/TH提高至26 J/TH,将公司的保本哈希价格降至不到每PH/s每天42美元。
"The decline in mining revenue since the Halving illustrates why we are so excited about our proposed merger with Kungsleden," remarked AJ Scalia, CEO of Cathedra. "Kungsleden earns fixed-margin revenue by providing hosting services to high-quality bitcoin mining tenants who run some of the most efficient hardware on the market, which we believe provides a comparatively stable, predictable business model with lower risk. We are also actively exploring other end-markets for high-density compute using Kungsleden's unique capabilities, such as artificial intelligence."
“减半以来挖矿收入的下降说明了我们为什么对与Kungsleden的拟议合并如此兴奋,” Cathedra的首席执行官AJ Scalia表示:“Kungsleden通过向市场提供高品质的比特币矿机租户提供托管服务而赚取固定保证金收入,我们认为这为更稳定、可预测、风险较低的商业模式提供了相对稳固的基础。我们还在积极探索使用Kungsleden独特能力的其他高密度计算的最终市场,如人工智能。”
Kungsleden Merger Update
Kungsleden合并更新
On March 6, 2024, the Company entered into a binding share exchange agreement (the "Share Exchange Agreement") with Kungsleden, Inc. ("Kungsleden") and Kungsleden's shareholders (the "Vendors", and together with the Company and Kungsleden, the "Parties") with respect to the Transaction. The Transaction is currently under review by the TSX Venture Exchange (the "TSX-V"); the Parties continue to work with the TSX-V to address their comments and expect to receive conditional approval from the TSX-V before the end of the second quarter.
2024年3月6日,该公司与Kungsleden,Inc("'Kungsleden'")和Kungsleden的股东("'供应商'",连同该公司和Kungsleden,即"'当事人'")签署了一份有约束力的股份交换协议("'股份交换协议'")涉及交易。交易目前正在TSX Venture Exchange审查中("'TSX-V'")股份交换协议,与Kungsleden,Inc.("'Kungsleden'")Kungsleden,与Kungsleden,Inc.("'Kungsleden'")供应商,连同该公司和Kungsleden,即"'当事人'"当事人,与Kungsleden,Inc.("'Kungsleden'")TSX-V双方将继续与TSX-V合作解决问题,并预期在第二季度结束前从TSX-V获得有条件的批准。
Upon the receipt of conditional approval from the TSX-V, the Company will file a management information circular under its issuer profile on SEDAR+ at which will contain details on the Transaction and the date and time of the Company's shareholder meeting (the "Shareholder Meeting") whereby shareholders may vote to approve the Transaction. The Company expects the Shareholder Meeting to be held in the beginning of the third quarter, and upon approval by shareholders, for the Transaction to close promptly thereafter. The Transaction remains subject to the satisfaction of certain conditions, including the shareholder approval and the approval of the TSX-V.
在获得TSX-V有条件批准后,公司将在其在SEDAR+上的发行人档案下提交管理信息循环,其中将包含有关交易的详细信息以及公司股东大会的日期和时间,股东将在股东大会上投票批准交易。公司预计股东大会将于第三季度初举行,并在股东批准后尽快完成交易。该交易仍须满足某些条件,包括股东批准和TSX-V的批准。股东大会股东批准后,公司预计在第三季度初迅速完成交易。该交易仍需满足某些条件,包括股东批准和TSX-V的批准。
The mandatory trading halt placed on the Company's shares by the TSX-V continues due to the pending Transaction. Trading in the Company's shares is expected to resume on the TSX-V upon closing of the Transaction, which is expected to be around the beginning of the third quarter.
由于待处理交易,TSX-V对公司股票实施了强制交易停牌。预计在交易结束后,即预计在第三季度初左右,公司的股票交易将在TSX-V上恢复。
"In the time since we announced the proposed merger with Kungsleden, our conviction in the strategic importance of the deal has only grown," remarked Drew Armstrong, President and COO of Cathedra. "The world is waking up to the importance of data centers with reliable, low-cost power, for bitcoin mining as well as other forms of compute. After closing this merger with Kungsleden, Cathedra shareholders will be well-positioned to benefit from this accelerating trend, as we bring in-house the ability to quickly develop rack space at competitive cost. We appreciate the patience of our shareholders as we complete the necessary legal and regulatory processes. We remain excited for the future of the Company."
"自我们宣布与Kungsleden的合并提议以来,我们对交易的战略重要性的信念只有增强的趋势,"Cathedra总裁兼COO Drew Armstrong说道:"世界正在觉醒,认识到可靠的低成本能源的数据中心对于比特币挖掘以及其他形式的计算的重要性。在与Kungsleden完成这一合并之后,Cathedra的股东将处于良好的位置,以从这一加速趋势中受益,因为我们在内部具备了以有竞争力的成本快速开发机架空间的能力。我们感谢股东在我们完成必要的法律和监管程序时的耐心等待。我们仍对公司的未来感到兴奋。"
Kungsleden Operations Update
Kungsleden业务更新
In recent months, the first 10 MW of hosting capacity was activated at Kungsleden's 60-MW North Dakota data center development (of which Kungsleden owns 25%, which will amount to 15 MW). Construction of the remaining 50 MW continues and is expected to be completed in the next month. The full 60 MW of hosting capacity has been contracted to a large bitcoin mining counterparty at an average rate of US$74.17 per MWh for an initial one-year term. The tenant intends to deploy a mix of Bitmain S19 XP and S21 machines which would generate a weighted average revenue of US$127 per MWh (assuming hash price of US$55/PH/s/day), implying a breakeven hash price of US$32/PH/s/day.
在最近几个月中,Kungsleden在其60MW的北达科他数据中心开发项目中启动了前10 MW的托管能力(其中Kungsleden拥有25%的股份,将达到15 MW)。其余50 MW的建设仍在继续,并预计将在下个月内完成。全部60 MW的托管能力已被一家大型比特币挖掘交易方租用,租金平均为每MWh 74.17美元,租期为一年。承租方打算部署Bitmain S19 XP和S21机器的混合系统,这将产生每MWh 127美元的平均收入(假设每PH/s/日的哈希价格为55美元),意味着平均每PH/s/日的盈亏平衡价格为32美元。
To Kungsleden's knowledge, all bitcoin mining tenants at Kungsleden's existing three data center facilities continue to mine profitably despite all-time low hash price conditions following the Halving.
据Kungsleden所知,尽管Halving之后哈希价格创下历史新低,但其现有的三个数据中心设施中的所有比特币矿工租户仍在盈利的挖掘。
About Cathedra Bitcoin
关于 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.
Cathedra Bitcoin Inc. (TSXV:CBIT)(OTCQB:CBTTF)是一家比特币公司,相信稳健货币和充足能源是人类繁荣的关键。该公司有多元化的比特币挖掘业务,在美国的两个州和四个地点生产了355 PH/s。该公司专注于通过多元化的选址和运营方法来管理和扩大其算力组合,利用不同司法管辖区的多种能源来源。
For more information about Cathedra, visit cathedra.com or follow Company news on Twitter at @CathedraBitcoin or on Telegram at @CathedraBitcoin.
有关Cathedra的更多信息,请访问cathedra.com,或关注公司新闻的Twitter账户@CathedraBitcoin或Telegram账户@CathedraBitcoin。
Media and Investor Relations Inquiries
媒体和投资者关系调查
Please contact:
请联系:
Inar Kamaletdinov
Chief Financial Officer
ir@cathedra.com
Inar Kamaletdinov
致富金融
ir@cathedra.com
Cautionary Statement
声明
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.
应该将该公司证券的交易视为极高的投机性。没有任何股票交易所、证券委员会或其他监管当局批准或不批准此处包含的信息。TSX Venture Exchange或其监管服务提供商(该术语在TSX Venture Exchange的政策中定义)不接受本发布的充分或准确性的责任。
Forward-Looking Statements
前瞻性声明
This news release contains certain "forward-looking information" 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 about future plans and objectives of the Company, are forward-looking information. Other forward-looking information includes but is not limited to information concerning: the receipt of approval of the TSXV and the timing thereof, the filing of the Company's management information circular on SEDAR+ and the content and timing thereof, the timing of the Shareholder Meeting, the closing of the Transaction and the timing thereof, the expectation that construction on Kungsleden's 60 MW data center will be completed in the next month, the expectation that after closing of the Transaction Cathedra shareholders will be well-positioned to benefit from the accelerating trend of the importance of data centers with reliable, low-cost power, as we bring in house the ability to quickly develop rack space at competitive cost, the intentions and future actions of senior management, the intentions, plans and future actions of the Company, as well as the Company's ability to successfully mine digital currency; revenue increasing as currently anticipated; the ability to profitably liquidate current and future digital currency inventory; volatility of network difficulty and, digital currency prices and the resulting significant negative impact on the Company's operations; the construction and operation of expanded blockchain infrastructure as currently planned; and the regulatory environment of cryptocurrency in applicable jurisdictions.
本新闻发布中包含某些"前瞻性信息",这些信息是根据在本新闻发布日期时的预期,估计和预测而基于适用的加拿大证券法的。本发布中有关公司未来计划和目标的信息属于前瞻性信息。其他前瞻性信息包括但不限于有关:获得TSXV的批准及其时间安排;公司在SEDAR+上的管理信息循环的提交,以及其内容和时间安排;股东大会的时间;交易的完成及其时间安排;预计Kungsleden的60 MW数据中心的建设将在下个月内完成,以及完成交易后,Cathedra股东将具备利用具有可靠的低成本电源的数据中心重要性这一不断加速的趋势的能力,以具有竞争力的成本快速开发机架空间;高管的意向和未来行动;公司的意向、计划和未来行动以及公司成功开采数字货币的能力;租用收入按照预期增长;利润性地清算当下和未来的数字货币库存;网络难度、数字货币价格的波动以及对公司运营产生的重大负面影响;扩大区块链基础设施的建设和运营;以及适用管辖区中加密货币的监管环境。
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.
任何涉及到预测、期望、信仰、计划、投射、目标、假设、未来事件或表现(通常但不总是使用"预计"、"不预计"、"预期"、"预测"、"目前计划"、"预算"、"预订"、"预测"、"估计"、"相信"或"打算"这样的短语或这些词汇和短语的变体,或表明某些行动、事件或结果"可能"、"可能"、"可能"或"将"发生或实现)并不是历史事实的陈述,可能是前瞻性信息,并旨在识别前瞻性信息。
This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time it was made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. The Company has also assumed that no significant events occur outside of the Company's normal course of business. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to revise or update any forward-looking information other than as required by law.
该前瞻性信息是基于该公司的管理层在其制作时作出的合理假设和估计,并涉及已知和未知的风险、不确定性和其他因素,这些因素可能导致该公司的实际结果、表现或成就与任何未来结果、表现或成就的前瞻性信息所表达的相比有实质性的不同。公司还假定在公司正常业务的范围以外不会发生任何重大事件。尽管公司已经尝试确定可能导致实际结果与预期、估计或预期结果不同的重要因素,但也可能会有其他因素导致结果不如预期、估计或预期。因此,读者不应过分依赖前瞻性信息。除法律要求外,该公司不承担修订或更新前瞻性信息的任何义务。