Cathedra Bitcoin Inc. announced the following updates on its bitcoin mining operations. In the last two months, the Company completed the installation of additional machines at its new facility in Washington and at an existing third-party hosting site in Tennessee. At time of publication, the Company's hash rate totals 382 PH/s capable of producing approximately 29 bitcoin per month under current network conditions.

The Company may elect to make further optimizations at its existing sites in the future and will announce such results upon completion. On June 20, 2023, the Company renewed its hosting agreement with an existing partner in Tennessee for another 12-month term beginning on July 1, 2023. Under the terms of the renewed agreement, the Company will pay a fixed rate of USD 72.50 per megawatt hour for electricity and hosting services for 1,129 Bitmain Antminer S19J Pro machines which produce approximately 113 PH/s in aggregate.

Additionally, the Company reserves the option to underclock its machines at its discretion, reducing the machines' break-even hash price to approximately USD 40.00/PH/s/day (vs. current hash price of approximately USD 76.00/PH/day at time of publication). The Company continues to prepare its Rovers and machines for deployment under its recently announced off-grid mining partnership in Texas.

The Company expects to deploy the first Rover in the coming weeks, which will provide at least 8 PH/s of incremental hash rate with minimal capital expenditure. Thereafter, the Company will prepare to scale up to achieve at least 54 PH/s of total hash rate under the partnership. With the deployment of its first Rover, the Company will become the only publicly traded bitcoin miner using both on- and off-grid energy sources to power its operations.