Cathedra Bitcoin Inc (TSE:CBIT) has released an update.
Cathedra Bitcoin Inc. is merging with Kungsleden Inc. to form a comprehensive digital infrastructure firm, with a focus on bitcoin mining and hosting services, boasting a significant 4.8 EH/s of hash rate across multiple data centers. The merger is set to bolster Cathedra’s growth, bringing in Kungsleden’s expertise in data center development and potentially reducing power costs for Cathedra’s mining operations, while also diversifying revenue streams ahead of the 2024 Bitcoin Halving. The enhanced management team will include new CFO Inar Kamaletdinov and Kungsleden’s co-founders joining as Co-Chairmen of the board.
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