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Author: Admin | 2025-04-28
Toronto, Ontario--(Newsfile Corp. - October 28, 2024) - (Block Height: 867,650) - Cathedra Bitcoin Inc. (TSXV: CBIT) (OTC Pink: CBTTF) ("Cathedra" or the "Company"), a bitcoin company that develops and operates digital infrastructure assets with the goal of maximizing its per-share bitcoin holdings, is pleased to announce a new partnership with Compass Mining Inc. ("Compass Mining"), a leading provider of Bitcoin mining hardware, hosting, and services.Partnership OverviewUnder the partnership, Cathedra will host 10 megawatts of Compass Mining's equipment at one of Cathedra's data centers in Kentucky. As part of the partnership, Compass Mining will operate the site and pay pass-through power costs plus 50% of net profits (defined as net mining revenue less cost of power) to Cathedra in bitcoin. Cathedra and Compass Mining share the intent of expanding this partnership beyond the initial 10 megawatts to future sites, hosting machines for either Compass Mining or Compass Mining's customers.Management Commentary"We are very excited to be working with Compass Mining, a company that has demonstrated their ability to mine bitcoin at scale through multiple market cycles," remarked Cathedra President and COO Drew Armstrong. "From a Cathedra perspective, Compass represents the addition of another quality counterparty to our portfolio of customers. Additionally, we view the profit share construct on this initial 10 megawatts as a way to improve Cathedra's per-share bitcoin holdings.""We're thrilled to partner with Cathedra," said Paul Gosker, CEO of Compass Mining. "The Kentucky data center meets Compass's high uptime and reliability standards for all its partner sites, and the location offers a stable power grid and favorable regulatory environment. By leveraging Cathedra's infrastructure, we will have even greater flexibility and control over our Bitcoin mining services."Cathedra Bitcoin Holdings UpdateAt time of publishing, the Company holds approximately 44.5 bitcoin worth approximately US$3.0 million and amounting to approximately 5 satoshis (or
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