Cathedra Bitcoin Inc. provided the following operations updates. Earlier this month, the Company completed the deployment of 490 Bitmain Antminer S19J Pro and 50 Bitmain Antminer S 19 XP machines under the Kentucky hosting agreement it entered into on February 3, 2023. Together, these machines have added approximately 56 PH/s to the Company's total bitcoin mining hash rate.

Additionally, earlier this month the Company deployed approximately 400 of the total 773 Bitmain S19J Pro machines under the Washington lease agreement it entered into on January 29, 2023, adding an additional 40 PH/s to the Company' hash rate. The Company expects to complete the deployment of the remaining 373 machines at the Washington facility in the coming days. Beginning in March, the Company began retaining a portion of its mined bitcoin on its balance sheet again.

At time of publication, the Company held 13.9 bitcoin in treasury. Going forward, the Company intends to liquidate mined bitcoin to meet monthly cash obligations and holding the balance in treasury. Currently, the Company's diversified bitcoin mining operations generate approximately 343 PH/s of hash rate capable of mining approximately 28.3 bitcoin per month under current market conditions.

Upon the completion of the Washington deployment, the Company expects its diversified bitcoin mining operations to generate approximately 378 PH/s capable of mining approximately 31.2 bitcoin per month under current market condition, representing hash rate growth of 102% year-over-year and 86% year-to-date.