Cathedra Bitcoin Announces Closing of Debt Settlement and Debenture Extension

(Block Height: 821,350) – Cathedra Bitcoin Inc. (TSX-V: CBIT; OTCQB: CBTTF) (“Cathedra” or the “Company”), a diversified bitcoin mining company, is pleased to announce that, further to its previous press release on November 21, 2023, the Company has settled a portion of the outstanding principal amount of Debentures (as defined below) equal to C$10,743,329 (the “Settlement Amount”) into 96,439,227 common shares (the “Shares”) of the Company (the “Debt Settlement”). The Shares were issued at a deemed price of C$0.1114 per Share. The debt was payable to certain debenture holders (the “Debenture Holders”) in respect of 3.5% senior secured convertible debentures of the Company due November 11, 2024 (the “Maturity Date”) originally issued to the Debenture Holders on November 11, 2021 (the “Debentures”).

In connection with the Debt Settlement, the Company has also repaid C$2,000,000 to retire C$3,333,333 of the outstanding principal amount of the Debentures, leaving an aggregate principal amount outstanding of the Debentures equal to C$5,733,728 as of the date hereof (the “Remaining Principal").

Additionally, the maturity date for the Remaining Principal has been extended by an additional 12 months to November 11, 2025 (the “Extended Maturity”). No other changes to the Debentures were made; the Company will continue to pay quarterly interest at 3.5% per annum on the Remaining Principal balance until the Extended Maturity, whereupon the Remaining Principal is due in full.

All securities issued pursuant to the Debt Settlement are subject to a four month and one day hold period from the closing date of the Debt Settlement.

About Cathedra Bitcoin

Cathedra Bitcoin Inc. (TSX-V: CBIT; OTCQB: CBTTF) is a Bitcoin company that believes sound money and abundant energy are the keys to human flourishing. The Company has diversified bitcoin mining operations which produce 355 PH/s across three states and five locations in the United States. The Company is focused on managing and expanding its portfolio of hash rate through a diversified approach to site selection and operations, utilizing multiple energy sources across various jurisdictions.

For more information about Cathedra, visit cathedra.com or follow Company news on Twitter at @CathedraBitcoin or on Telegram at @CathedraBitcoin.

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.