Cathedra Bitcoin Announces Equity Compensation Grants

TORONTO, Jan. 26, 2022 (GLOBE NEWSWIRE) -- Cathedra Bitcoin Inc. (TSX-V: CBIT) (“Cathedra” or the “Company”), a Bitcoin company that develops and operates world-class bitcoin mining infrastructure, announces that it has granted to employees of the Company 2,361,732 restricted share units (the “RSUs”), and 266,523 options to acquire common shares of the Company (the “Options”) under the Company’s long term incentive plan (the “LTIP”). The Options have an exercise price of C$0.43 per share, being the price of the Company’s shares at the close of trading on January 26, 2022. The Options and RSUs are subject to vesting conditions.

Cancellation of Restricted Share Units

The Company also announces that it has agreed with certain directors and officers of the Company to cancel an aggregate of 1,161,732 restricted share units previously held by such directors and officers. Under the LTIP, the Company may grant up to an aggregate of 8,000,000 RSUs.

For more information, please visit www.cathedra.com or follow Company news via Twitter @CathedraBitcoin.

About Cathedra Bitcoin

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

Cathedra believes sound money and cheap, abundant energy are the fundamental ingredients to human progress, and is committed to advancing both by working closely with the energy sector to secure the Bitcoin network. Today, Cathedra owns 187 PH/s across various sites around the United States and expects to deploy an additional 538 PH/s in 2022. Upon the full deployment of its purchased machines, Cathedra’s hash rate is expected to total 725 PH/s. The Company is focused on expanding its portfolio of hash rate through a diversified approach to site selection and operations, utilizing multiple energy sources across various jurisdictions.

For further information, please contact:

Sean Ty
Chief Financial Officer
604 477 9997
[e-mail]

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.