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Cathedra Bitcoin Inc. (TSXV: CBIT,OTC:CBTTF) (OTCQB: CBTTF) ("Cathedra", the "Company", "we" or "us"), a leading developer and operator of power and digital infrastructure assets across North America, today announces its financial results for the three months ended September 30, 2025.
Highlights
Total revenue reached C$5.5 million.
The Company recorded a net loss of C$0.8 million, a reduction of C$3.2 million as compared to the same period of 2024.
Subsequent events:
Consolidation: The Company completed a 30:1 consolidation of its issued and outstanding subordinate voting shares and multiple voting shares with a record date of October 14, 2025 to streamline the Company's capital structure.
Data Center Expansion: The Company completed the construction of a new 15-megawatt (MW) data center, which effectively increased the existing power capacity by 50% across its portfolio in Kentucky, USA.
Infrastructure Development: The Company continued to advance its pipeline of high-potential sites, reinforcing its commitment to expanding its bitcoin mining and hosting infrastructure.
Management Commentary
"As we reflect on recent developments at Cathedra, the Company has hit several key milestones that underscore our commitment to operational excellence and strategic growth in the bitcoin mining and hosting sector," said Joel Block, CEO of Cathedra. "First, we successfully completed a 30:1 consolidation of our issued and outstanding subordinated and multiple voting shares to reduce the number of shares currently outstanding and streamline the Company's capital structure. Additionally, we have completed the construction of a new 15 megawatt (MW) data center on-time and under budget, which effectively increases the existing power capacity of our portfolio by 50%. Site development commenced in August 2025 and was brought online by October 2025, demonstrating our team's efficiency and dedication to rapid execution. We continue to expand our portfolio amid scarcity of power across the market and a general lack of available capacity, and we maintain a robust pipeline of greenfield opportunities in two forms: (i) bolt-on expansions at existing sites and (ii) new site development across a range of geographic regions."
Block continued, "During the quarter and after quarter-end, we have continued to restructure and rebalance our customer mix of hosting clients to optimize performance and profitability. Looking ahead, Cathedra remains committed to scaling our energy infrastructure to meet the growing demand for bitcoin mining and hosting services, while also evaluating other productive uses of our expanding power portfolio. We continue to set ourselves apart in this dynamic market by leveraging innovative power strategies across our assets to optimize efficiency and reduce costs. These developments reflect our continued focus on growing hosted infrastructure and strengthening relationships with leading industry partners."
About Cathedra
Cathedra develops and operates power and digital infrastructure assets across North America. The Company hosts bitcoin mining clients across its portfolio of four data centers (45 MW total) in Tennessee and Kentucky. Cathedra also operates a fleet of proprietary bitcoin mining machines at its own and third-party data center, producing approximately 400 PH/s of hash rate. Cathedra is headquartered in Vancouver and its subordinate voting shares trade on the TSX Venture Exchange under the symbol CBIT and in the OTC market under the symbol CBTTF.
For more information about Cathedra, visit cathedra.com or follow Company news on Twitter at @CathedraBitcoin or on Telegram at @CathedraBitcoin.
Media and Investor Relations Inquiries
Please contact:
Joel Block
Chief Executive Officer
ir@cathedra.com
Cautionary Statement
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.
Forward-Looking Statements
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, including greenfield opportunities are forward-looking information. Forward-looking information contained in this news release includes but is not limited to information concerning general infrastructure development and other statements regarding future plans and objectives of the Company. 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.
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: an inability successfully integrate the Kungsleden business on terms which are economic or at all; a failure to realize the expected benefits of the business plan to develop and operate high-density compute infrastructure for bitcoin mining and/or other potential end markets; the risks of an increase in the Company's electricity costs, cost of natural gas, changes in currency exchange rates, energy curtailment or regulatory changes in the energy regimes in the jurisdictions in which the Company operates and the potential adverse impact on the Company's profitability; revenue may not increase as currently anticipated, or at all; it may not be possible to profitably liquidate the current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on operations; an increase in network difficulty may have a significant negative impact on operations; the volatility of digital currency prices; future capital needs and the ability to complete current and future financings, as well as capital market conditions in general; volatile securities markets impacting security pricing unrelated to operating performance; historical prices of digital currencies and the ability to mine digital currencies that will be consistent with historical prices; 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 www.sedarplus.ca. 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. The Company undertakes no obligation to revise or update any forward-looking information other than as required by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/274923
