Cathedra Bitcoin announces donation to Summer of Bitcoin

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TORONTO, December 20, 2021 – (BUSINESS WIRE) – 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 that it will donate US $ 50,000 worth of bitcoin to Summer of Bitcoin, a global summer internship program focused on introducing college students to Bitcoin and open source development. Cathedra’s donation is the first of many intended to strengthen the Bitcoin network and protect the company’s investment in the Bitcoin asset. Cathedra plans to expand its support for Bitcoin development as its bitcoin mining operations grow.

“As the history of Bitcoin has shown us, miners are only part of the network,” said Drew Armstrong, president and chief operating officer of Cathedra. “It is important that we do our part to support other aspects of the network, especially open source developers who can help ensure a bright future for Bitcoin; To that end, we are excited to be working with Summer of Bitcoin to empower this next generation of talent and help diversify Bitcoin’s contributor base beyond the United States and Western Europe, ”Armstrong added.

Summer of Bitcoin Director Adi Shankara commented “We are extremely grateful for the generous financial support from Cathedra Bitcoin. Summer of Bitcoin serves to develop and decentralize the pipeline of open source developers contributing to Bitcoin, and this donation from Cathedra Bitcoin will go a long way toward accomplishing our mission. “

About Cathedra Bitcoin

Cathedra Bitcoin (TSX-V: CBIT) is a Bitcoin company that develops and operates world-class bitcoin mining infrastructure.

Cathedra believes that solid money and abundant, cheap energy are fundamental ingredients of human progress, and is committed to advancing both by working closely with the energy industry to secure the Bitcoin network. Today, Cathedra has 177 PH / s at various sites in the United States and plans to deploy an additional 18 PH / s and 534 PH / s in Q4 2021 and 2022, respectively. After full deployment of her purchased machines, Cathedra’s hash rate is expected to total 729 PH / s. The Company is focused on expanding its hash rate portfolio through a diversified approach to site selection and operations, utilizing multiple energy sources in various jurisdictions.

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For more information on Cathedra, visit cathedra.com.

Caution

Trading in the securities of the Company should be regarded as highly speculative. No stock exchange, securities commission or other regulatory authority has approved or disapproved of the information contained in this document. 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.

Forward-looking statements

This press 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 press release. The information contained in this press release concerning the future plans and objectives of the Company is forward-looking information. Other forward-looking information includes, without limitation, information regarding: the intentions and future actions of senior management, the intentions, plans and future actions of the Company, as well as the ability of the Company to operate with digital currency success; incomes are increasing as currently expected; the ability to profitably liquidate current and future digital currency stocks; the volatility of network difficulties and digital currency prices and the resulting significant negative impact on the Company’s operations; the construction and operation of an extended blockchain infrastructure as currently planned; and the regulatory environment for cryptocurrency in applicable jurisdictions.

Any statement involving discussions regarding predictions, expectations, beliefs, plans, projections, goals, assumptions, future events or performance, “anticipates” or “does not anticipate”, “plans”, ” budget ”,“ planned ”,“ foresees ”,“ estimates ”,“ believes ”or“ intends ”or variations of these words and expressions or indicating that certain actions, events or results“ may ”or“ could “,” Would “,” could “or” would “be considered to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify – seeking information.

This forward-looking information is based on reasonable assumptions and estimates made by the management of the Company at the time they were made, and involves known and unknown risks, uncertainties and other factors that may cause results, performance or actual achievements of the Company significantly different from the future results, performances or achievements expressed or implied by this forward-looking information. The Company also assumed that no material event occurred outside the normal course of the Company’s business. Although the Company has attempted to identify important factors that could cause actual results to differ materially, other factors may cause results not to be as anticipated, estimated or anticipated. 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. Therefore, readers should not place undue reliance on forward-looking information. The Company assumes no obligation to revise or update any forward-looking information other than that required by law.

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Contacts

Media and Investor Relations Information Please contact: Sean TyChief Financial [email protected]

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