TORONTO–(BUSINESS WIRE)–$CBIT #Bitcoin–(Visina bloka: 792,140) – Cathedra Bitcoin Inc. (TSX-V: CBIT; OTCQX: CBTTF) (“Katedra"Ili"Kompanija”), announces the results of its operations for the first quarter and three months ended March 31, 2023 (“Q1 2023").
Finansijski detalji za prvo tromjesečje 2023
- Gross bitcoin produced by mining operations increased by 12% to 64.5 bitcoin, compared to 57.8 bitcoin in Q1 2022.
- Revenue from bitcoin mining operations decreased by 35% to C$2.0 million, compared to C$3.1 million in Q1 2022, mainly from the change in the daily average bitcoin price for the quarter of US$22,875, compared to US$53,481 in Q1 2022. Revenue from bitcoin mining operations increased by 20% quarter-over-quarter to C$2.0 million, compared to C$1.7 million in Q4 2022.
- The Company liquidated certain credits and coupons from third-party suppliers for approximately US$1.8 million in cash proceeds in Q4 2022 and Q1 2023.
- The Company announced the settlement of C$2.5 million of the outstanding principal amount of its 3.5% senior secured convertible debentures into 18,518,518 common shares of the Company, which were issued at a deemed price of C$0.135 per share. After the closing of the transaction on April 10, 2023, the convertible debentures have an outstanding principal balance of C$19.9 million, which is due upon maturity on November 11, 2024.
- As of May 30, 2023, the Company held approximately C$3.8 million of cash and approximately C$664,600 of bitcoin (17.63 BTC) for total cash and bitcoin liquidity of approximately C$4.5 million.
First Quarter 2023 Operational Highlights
- The Company deployed an additional 920 Bitmain S19J Pros at its legacy Washington facility.
- The Company entered into a hosting agreement under which it has deployed 490 Bitmain S19J Pros and 50 Bitmain S19 XPs at a third-party data center in Kentucky. The hosting agreement has an initial term of 12 months, and the Company will pay a fixed rate of US$0.07 per kilowatt hour plus 10% of gross bitcoin revenue produced by the hosted machines.
- The Company entered into 24-month lease and operating agreements for a 2.5-megawatt bitcoin mining facility in Washington State under which the Company pays US$0.06 per kilowatt hour plus 10% of gross bitcoin revenue produced by the Company’s machines at the facility. The Company also received the right of first opportunity to purchase the facility and several adjacent facilities which together total approximately 10 megawatts of bitcoin mining capacity.
- The Company completed an optimization of its operations across two sites by “underclocking” certain of its existing machines—reducing power draw to improve machine efficiency, as measured by energy consumed per unit of hash rate produced. This optimization improved average machine efficiency at the sites by approximately 36%, increasing the Company’s operating cash flow margins.
- As of May 30, 2023, the Company’s active bitcoin mining hash rate totaled 343 PH/s across three states and seven locations in the United States. The Company expects to deploy at least an additional 35 PH/s at its new leased facility in Washington in the coming weeks.
Komentar menadžmenta
“During the first few months of 2023, we have continued to generate free cash flow and have begun building our bitcoin treasury again. In Q1, we announced plans to deploy the remaining new machines from our Q4 2021 futures orders and made significant progress toward completing those deployments,” remarked CEO AJ Scalia. “At time of publication, we are generating approximately 28.16 gross bitcoin per month at an average cash cost of US$13,983 per bitcoin across a hash rate portfolio totaling 343 PH/s.
“In addition to the remaining 35 PH/s we expect to install at our new Washington facility imminently, we continue to evaluate opportunities to deploy our 11 modular data centers and over 2,000 idle older-generation machines to further increase our portfolio of hash rate. With our industry-leading underclocking capabilities, we believe we can improve the power efficiency of these machines to render them profitable even as challenging bitcoin mining conditions persist.”
O Cathedra Bitcoin
Cathedra Bitcoin Inc. (TSX-V: CBIT; OTCQX: 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 343 PH/s across three states and seven 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.
Za više informacija o Cathedra, posjetite cathedra.com ili pratite vijesti kompanije na Twitteru na adresi @CathedraBitcoin ili na Telegramu na @CathedraBitcoin.
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Kontakti
Molimo kontaktirajte:
Sean Ty
Chief Financial Officer
Source: https://thenewscrypto.com/cathedra-bitcoin-announces-first-quarter-2023-financial-results/