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TORONTO — (Block height: 765,082) – Cathedra Bitcoin Inc. (TSKS-V: CBIT; OTCKKS: CBTTF) (“Chair” or “Company“), announces the results of its operations for the third quarter and nine months ending on September 30, 2022 (“Q3 2022“).
Highlights of the third quarter of 2022
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Management comment
“Unfortunately, Bitcoin mining conditions continued to deteriorate as the year progressed. Fortunately, we stayed one step ahead of the market at all times, strengthening the company’s liquidity position and balance sheet in the spring by issuing equity, selling assets and retiring debt in preparation for an extended economic downturn. At the time of writing, we are in a position of relative strength relative to many of our industry peers, with a multi-year runway even in current conditions.
“Our long-term bullish thesis on Bitcoin has not changed. Preservation of our shareholder capital remains our top priority and we are grateful for their continued support.”
About Cathedra Bitcoin
Cathedra Bitcoin Inc. (TSX-V: CBIT; OTCKKS: CBTTF) is a Bitcoin company that develops and operates a world-class Bitcoin mining infrastructure.
Cathedra believes that sound money and abundant energy are essential ingredients for human progress and is committed to advancing both by working closely with the energy sector to secure the Bitcoin network. Today, Cathedra’s diversified Bitcoin mining operations total 203 PH/s and span three states and five locations in the United States. The company is focused on expanding its hash rate portfolio through a diversified approach to site selection and operations, using multiple energy sources in different jurisdictions.
For more information about Cathedra, visit cathedra.com or follow the company’s news on Twitter at @CathedraBitcoin or on Telegram at @CathedraBitcoin.
Warning statement
Trading in the Company’s securities should be considered highly speculative. No stock exchange, securities commission or other regulatory body has approved or disapproved of the information contained in this document. Neither TSKS Venture Exchange nor its regulation service provider (as that term is defined in the policies of TSKS Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking statements
This release contains certain “forward-looking information” within the meaning of applicable Canadian securities laws that are based on expectations, estimates and projections as of the date of this release. Information in this release about the Company’s future plans and objectives is forward-looking information. Other forward-looking information includes, but is not limited to, information relating to: the intentions and future actions of senior management, the intentions, plans and future actions of the Company, and the Company’s ability to successfully mine digital currency; increasing revenue as currently expected; the possibility of profitable liquidation of current and future inventory of digital currency; the volatility of network difficulties and the price of digital currency and the resulting material adverse impact on the Company’s business; the construction and operation of the extended blockchain infrastructure as currently planned; and the cryptocurrency regulatory environment in applicable jurisdictions.
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Any statements that include discussions regarding predictions, expectations, beliefs, plans, projections, goals, assumptions, future events or performance (often, but not always, using phrases such as “expects,” or “does not expect,” “expects ” , “anticipates” or “does not anticipate”, “plans”, “budget”, “planned”, “anticipates”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions , events or results “may” or “could”, “would”, “could” or “will” happen or be achieved) are not statements of historical fact and may be forward-looking information intended to identify the future – seeking information.
This forward-looking information is based on the Company’s management’s reasonable assumptions and estimates at the time it is made, and involves known and unknown risks, uncertainties and other factors that could cause the Company’s actual results, performance or achievements to be materially different from any future projections. 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 expected, estimated or planned. 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 except as required by law.
See the original version on businesswire.com: https://www.businessvire.com/nevs/home/20221128005759/en/
Contacts
Inquiries about media and investor relations
Contact:
Sean Tee
Chief Financial Officer
ir@cathedra.com
#distro
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