Street Calls of the Week
VANCOUVER - Cathedra Bitcoin Inc. (TSXV:CBIT) (OTCQB:CBTTF), a $31.15 million market cap bitcoin infrastructure company, announced Monday that it has formalized its relationship with Chief Executive Officer Joel Block through an employment agreement, replacing the previous consulting arrangement established upon his appointment. According to InvestingPro data, the company’s stock has seen significant volatility, dropping 23% in the past week while gaining over 64% in the last six months.
As part of the agreement, Block received 43,427,522 restricted share units (RSUs) that can be converted into subordinate voting shares of the company. The RSUs will vest equally over three years on the anniversary of the grant date and are subject to regulatory approval from the TSX Venture Exchange.
Cathedra develops and operates digital infrastructure assets across North America. The company currently hosts bitcoin mining clients at three data centers with a combined capacity of 30 megawatts in Tennessee and Kentucky. It also operates its own fleet of bitcoin mining machines producing approximately 400 PH/s of hash rate.
The Vancouver-based company recently developed and sold a 60-megawatt data center in North Dakota, a project in which Cathedra held a minority interest.
Cathedra’s subordinate voting shares trade on the TSX Venture Exchange under the symbol "CBIT" and in the OTC market under "CBTTF."
This information is based on a company press release statement.
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