Cathedra Bitcoin Announces Operations and Corporate Updates and Repricing of Warrants
Cathedra Bitcoin Announces Operations and Corporate Updates and Repricing of Warrants
Toronto, Ontario--(Newsfile Corp. - August 19, 2024) - (Block Height: 857,523) - Cathedra Bitcoin Inc. (TSXV: CBIT) ("Cathedra" or the "Company"), a developer and operator of high-density compute infrastructure across North America, is pleased to provide the following updates:
安大略省多伦多-(新闻发布公司-2024年8月19日)-(块高度:857,523)- Cathedral Bitcoin Inc.(TSXV:CBIT)(“Cathedra”或“公司”)是北美高密度计算基础设施的开发者和运营商,高兴地提供以下更新:
Operations Update
运营更新
Tennessee Operations
田纳西州运营
On August 22, 2024, the Company expects to conclude a hosting arrangement with a third-party operator in Tennessee pursuant to the terms of the hosting agreement. Upon conclusion of the agreement, the Company intends to relocate approximately 1,129 of its Bitmain S19J Pro machines from the operator's site in Tennessee to a data center owned and operated by the Company in Tennessee. The move is expected to reduce the Company's effective cash operating cost for these machines by approximately 31%, from US$72.50 per megawatt hour to approximately US$50.00 per megawatt hour.
2024年8月22日,公司预计根据托管协议的条款与田纳西州的第三方运营商达成托管安排。协议达成后,公司打算将其约1,129台比特大陆S19J Pro机器从田纳西州的运营商现场搬迁到由公司拥有和运营的田纳西州数据中心。预计此举将使公司的这些机器的现金运营成本有效降低约31%,从每兆瓦时72.50美元降至约50.00美元每兆瓦时左右。
North Dakota Operations
北达科他州运营
After encountering supply chain delays, the Company expects to complete final installation of its 60-megawatt North Dakota bitcoin mining data center in September 2024. 10 of the total 60 megawatts of capacity has been energized and producing revenue since June, with the remaining 50 megawatts expected to come online between now and the end of September 2024. Through a wholly owned subsidiary, Cathedra owns a 25% stake in the 60-megawatt project, equivalent to 15 megawatts of owned capacity.
由于遭遇供应链延迟,公司预计将于2024年9月完成其60兆瓦的北达科他州比特币挖掘数据中心的最终安装。自6月份以来,总容量的10兆瓦已具备能量并产生收入,其余的50兆瓦预计将从现在至2024年9月底陆续上线。通过全资子公司,Cathedra拥有60兆瓦项目的25%股权,等同于15兆瓦的所有产权。
Recent Conference Appearances
近期会议演讲
In July, Cathedra leadership participated in Bitcoin 2024 in Nashville, Tennessee, the largest Bitcoin conference in the world:
7月,Cathedra领导层参加了在田纳西州纳什维尔举行的Bitcoin 2024。这是全球最大的比特币会议:
Board Director Tom Masiero spoke on a panel about diversification in bitcoin mining. A recording of the conversation can be watched here.
President, COO, and Board Director Drew Armstrong appeared on a panel to discuss public versus private bitcoin mining companies. A recording of the conversation can be watched here.
董事会成员Tom Masiero就比特币挖掘中的多元化问题进行了讨论。可以在此处观看对话的录音。
总裁,首席运营官兼董事Drew Armstrong出席了一个小组讨论,讨论了公共与私人比特币挖掘公司。可以在此处观看对话的录音。
Repricing of Warrants
认股权证重新定价
The Company also announces that it intends to reduce the exercise price of an aggregate of 36,819,700 outstanding subordinate voting share purchase warrants of the Company (the "Warrants"). 14,794,700 Warrants were issued in connection with a bought deal that closed on March 26, 2021 (the "Bought Deal Warrants"), 16,025,000 Warrants were issued in connection with an offering of convertible debenture units that closed on November 11, 2021 (the "Debenture Warrants"), and 6,000,000 Warrants were issued in connection with private placement of units that closed on June 9, 2022 (the "Unit Warrants").
该公司还宣布,打算将公司的36,819,700份未行使的优先投票股份认股权证的行权价格降低(“认股权证”)。在2021年3月26日完成的买入协议中发行了14,794,700份认股权证(“买入协议认股权证”),在2021年11月11日完成的可转换债券单位发行中发行了16,025,000份认股权证(“可转换债券认股权证”),在2022年6月9日的单位增发定向发行中发行了6,000,000份认股权证(“单位认股权证”)。
The Company intends to reduce the exercise price of the Warrants to C$0.12 and amend the Warrants to include an acceleration provision (the "Amendments"). The Bought Deal Warrants have an original exercise price of C$0.82 and expire on March 26, 2026, and the Debenture Warrants have an original exercise price of C$0.95 and expire on November 11, 2026. The Unit Warrants expire on June 9, 2027, and have various exercise prices, as follows: 1,200,000 Unit Warrants have an original exercise price of C$0.56; 1,200,000 Unit Warrants have an original exercise price of C$0.79; 1,200,000 Unit Warrants have an original exercise price of C$1.04; 1,200,000 Unit Warrants have an original exercise price of C$1.29; and 1,200,000 Unit Warrants have an original exercise price of C$1.54. The expiry date of the Warrants will not be amended.
公司打算将认股权证行权价降至0.12加元,并修改认股权证以包括加速条款(“修订”)。买入协议认股权证的原始行权价为0.82加元,到期日为2026年3月26日,可转换债券认股权证的原始行权价为0.95加元,到期日为2026年11月11日。单位认股权证的到期日为2027年6月9日,各自的行权价格如下:1,200,000个单位认股权证的原始行权价为0.56加元; 1,200,000个单位认股权证的原始行权价约为0.79加元; 1,200,000个单位认股权证的原始行权价为1.04加元; 1,200,000个单位认股权证的原始行权价为1.29加元; 及1,200,000个单位认股权证的原始行使价为1.54加元。认股权证的到期日将不受修改。
The Company believes that the repricing of the Warrants will increase the likelihood that the Warrants will be exercised, providing the Company with proceeds that can be used to acquire additional bitcoin, develop and/or purchase data centers, and/or for working capital and general corporate purposes. Additionally, the Company believes that these amendments to the Warrants, which are currently "out of the money" by a significant margin, present only potential upside to holders of Warrants at no additional cost to such holders. As of the date of this news release, no Warrants have been exercised and no insiders of the Company hold or control the Warrants.
该公司认为对认股权证重新定价将增加认股权证行使的可能性,为公司提供获得资金以购买比特币,开发和/或购买数据中心以及为营运资金和一般公司用途的收入。此外,该公司认为,这些认股权证的修改,这些认股权证目前“已经过时”并且在不具有任何成本的情况下仅呈现出持有人的潜在利润。截至本新闻发布日期,尚未行使任何认股权证,公司内部人员也未持有或控制认股权证。
The Warrants will also be amended to include a mandatory acceleration provision as required under the policies of the TSX Venture Exchange (the "TSXV"). The acceleration provisions will provide that, if for any 10 consecutive trading days (the "Premium Trading Days") following the effective date of the Amendments, the closing price of the Company's subordinate voting shares (the "Shares") on the TSXV exceeds C$0.15, being 25% or more of the amended exercise price of the Warrants, the amended Warrants' expiry date will be accelerated such that holders will have 30 calendar days to exercise the Warrants (if they have not first expired in the normal course). The Company will announce any acceleration of the expiry date by press release and the 30-day period will commence seven days after the last Premium Trading Day. The terms of the Warrants will remain otherwise unchanged.
认股权证也将包括必要的加速条款,按照TSX Venture Exchange(TSXV)的政策要求。加速条款将规定,自修订的生效日起经过任何连续10个交易日(“高溢价交易日”)后,公司的优先投票股份(“股票”)在TSXV上的收盘价超过0.15加元,即延长修订后的认股权证到期日,使持有人有30个自然天可以行使认股权证(如果它们尚未在正常情况下到期)。公司将通过新闻发布公告任何到期日期的加速。 30天期限将于最后一个高溢价交易日后的七天开始。认股权证条款将在其他方面保持不变。
The Amendments are subject to approval by both the TSXV and the holders of Warrants. All of the holders of the Debenture Warrants and Unit Warrants must consent to the Amendments for their respective Warrants. The Bought Deal Warrants were issued under a warrant indenture dated March 26, 2021, and in accordance with the terms thereof, the Company must receive the consent of holders of Bought Deal Warrants representing 66 2/3% of the outstanding Bought Deal Warrants to enter into a supplemental warrant indenture to effect the Amendments with respect to the Bought Deal Warrants. The Company is seeking the written approval of the holders of the requisite number of Warrants for the Amendments. The Company intends to issue an updated news release upon receipt, if any, of the approval of the Amendments.
修订获得TSXV和认股权证持有人双方的批准。所有可转换债券认股权证和单位认股权证的持有人必须同意适用于其各自认股权证的修订。买入协议认股权证是根据于2021年3月26日签订的认股权证托管协议发行的,依据该协议的条款,公司必须获得占买入协议认股权证的66 2/3%的未经行使买入协议认股权证的持有人同意,以签订补充认股权证托管协议,以就买入协议认股权证的修改达成一致。公司正在寻求获得足够数量的认股权证持有人的书面批准以进行修改。公司打算在收到修订批准后发布更新的新闻稿。
The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This news release will not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.
所提供的证券未在1933年修订版美国证券法下注册,可能不会在美国或美国人士账户或利益下提供或出售,除非符合注册或适用豁免条件。本新闻发布不构成销售或要约邀请,也不会在任何需要的州进行销售。
About Cathedra Bitcoin
关于 Cathedra Bitcoin
Cathedra Bitcoin Inc. develops and operates high-density compute infrastructure across North America. The Company hosts bitcoin mining clients across its portfolio of three data centers (30 megawatts total) in Tennessee and Kentucky. Additionally, Cathedra is a 25% partner in a joint venture that is developing a 60-megawatt data center in North Dakota which will also host bitcoin miners upon its expected completion in Q3 2024. Cathedra also operates a fleet of proprietary bitcoin mining machines at its own and third-party data centers, producing approximately 400 PH/s of hash rate. The Company is focused on expanding its portfolio of data center infrastructure for high-density compute applications including bitcoin mining and artificial intelligence. Cathedra is headquartered in Vancouver and its shares trade on the TSX Venture Exchange under the symbol CBIT.
Cathedra Bitcoin Inc.在北美开发和运营高密度计算基础设施。该公司在田纳西州和肯塔基州的三个数据中心(总共30兆瓦)中托管比特币挖掘客户。此外,Cathedra是一项合资企业的25%合伙人,该企业正在开发一家60兆瓦的数据中心,该数据中心预计将于2024年第三季度竣工,届时也将托管比特币矿工。Cathedra还在自己和第三方数据中心运营一批专有的比特币挖掘机,产生约400 PH / s的哈希率。该公司专注于扩大其基于高密度计算应用程序,包括比特币挖掘和人工智能的数据中心基础设施组合。Cathedra总部位于温哥华,其股票在TSX Venture Exchange上以CBIt为符号交易。
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:
AJ Scalia
Chief Executive Officer
ir@cathedra.com
AJ Scalia
首席执行官
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.
公司股票的交易应被视为高风险投资。没有证券交易所、证券监管机构或其他监管机构核准或否认此处所载信息。 TSX Venture Exchange及其监管服务提供者(本术语定义在TSX Venture Exchange的规则中)不承担此发布的充分或准确的责任。
Forward-Looking Statements
前瞻性声明
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 about future plans and objectives of the Company, are forward-looking information. Forward-looking information contained in this news release includes but is not limited to information concerning: the Company's intention to reduce the exercise price of the Warrant, the inclusion of an acceleration provision for the Warrants, the Company's beliefs with respect to the proposed Amendments, the receipt of consent of warrantholders, the intention to relocate approximately 1,129 of its Bitmain S19J Pro machines to a data center owned and operated by the Company in Tennessee and the expectation that such relocation will reduce the Company's effective cash operating cost for such machines by approximately 31%, from US$72.50 per megawatt hour to approximately US$50.00 per megawatt hour, the expected completion of the Company's 60-megawatt North Dakota bitcoin mining data center in September 2024, and the Company's belief that the repricing of the Warrants will increase the likelihood that the Warrants will be exercised, providing the Company with proceeds that can be used to acquire additional bitcoin, develop and/or purchase new data centers, and/or for working capital and general corporate purposes.. 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. This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time it was made. The Company has also assumed that no significant events occur outside of its normal course of business.
本新闻发布包含了基于加拿大适用证券法的某些"前瞻性信息" 和"前瞻性陈述",这些信息、陈述是基于这份新闻发布日的预期、估计和预测。本发布中关于公司未来计划和目标的信息,是将来发展方向的前瞻性信息。本新闻发布中的前瞻性信息包括但不限于以下内容:公司拟降低认股证行权价、认股证中包含加速条款、公司对拟议修改的信念、获得认股证持有人同意、公司拟将 1,129 台自有比特大陆 S19J Pro 机器迁移到位于田纳西州的自营机房并期望该迁移将使机器的现金运营成本从每兆瓦时 72.50美元降低到每兆瓦时 50.00美元,降低约31%、公司预计2024年9月完成其60兆瓦北达科他比特币挖掘数据中心的建设、通过修订认股证行权价籍增加行权认股证的几率,为公司提供用于购买比特币、开发和/或购买新的数据中心、以及为工作资金和一般企业用途使用的资产等。任何包含有关对于预测、预期、信念、计划、预测、目标、假设、未来事件或表现的讨论的陈述(通常但不总是采用“期望”、“不期望”、“预计”、“预测”、“计划”、“预算”、“预定”、“预测”、“估计”、“相信”或“打算”这些语句或使用这些词语和短语的变体或声明某些行动、事件或结果“可能”或“可能”、“将”、“可能”或“将会”发生或实现)并非历史事实陈述可能是前瞻性信息,目的是识别前瞻性信息。这些前瞻性信息是基于本公司管理层在做出该信息时的合理假设和估计的。同时公司还假设没有重大事件发生超出其正常业务范围。
Additionally, these forward-looking statements may be affected by risks and uncertainties in the business of Cathedra 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 potential impact of the announcement of the completion of the Transaction 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, and the risks and uncertainties associated with foreign markets. Additionally, the forward-looking statements contained herein may be affected by risks and uncertainties in the business of Cathedra and general market conditions. Please see the Company's management information circular dated June 18, 2024 which is available for view the Company's SEDAR+ profile on . 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.
此外,这些前瞻性陈述可能受卡伦多的业务和整体市场条件的风险和不确定性的影响。投资者应当注意到,前瞻性陈述不是基于历史事实,而是反映卡伦多管理层在发表述款时根据其考虑的管理意见、假设和估计所做的有关未来成果或事件的观点、假设和估计。虽然卡伦多认为这种前瞻性陈述所反映的期望是合理的,但这样的陈述也涉及风险和不确定性,因此不应过度依赖,未知或不可预测的因素可能对公司未来的结果、表现或成就产生重大不利影响。导致这些前瞻性陈述实际结果与预测结果有所不同的关键因素包括以下原因:宣布交易完成对关系(包括与监管机构、雇员、客户和竞争对手的关系)的潜在影响;一般经济、业务和政治情况的变化,包括金融市场的变化;适用法律和法规在本地和国外管辖区域内的变化;遵守广泛的政府监管和遵从政府监管的成本;未预料到的成本;市场条件的变化影响每兆瓦时的平均营收及涉及与国外市场有关的风险和不确定性。此外,这些前瞻性陈述可能受卡伦多的业务和整体市场条件的风险和不确定性的影响。请参见公司于2024年6月18日发布的管理信息循环通告,该信函可在公司的SEDAR+简历资料中查阅。如果这些风险或不确定因素中的一个或多个变为现实,或前瞻性陈述所依据的假设证明是不正确的,则实际结果可能会与拟定的计划、预期、信念、估计或预期结果有所不同,应按通告中的说明选择公司。尽管卡伦多已试图确定可能导致实际结果与预期、估计或预期的目的不符的重要风险、不确定性和因素,但可能会存在其他原因导致结果不会如预期、估计或预期,并且这些变化可能具有重大作用。读者不应过度依赖前瞻性信息。
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.
TSX创业公司交易所及其监管服务提供者(如TSX创业公司政策所定义)均不承担本发布信息充分性或准确性的责任。