Cathedra Transitions to Bitcoin-First Strategy
Cathedra Bitcoin Inc. has shifted its focus from mining to growing its bitcoin holdings, aiming to boost its bitcoin per share, similar to Microstrategy’s acquisition strategy.
Following a review, Cathedra found mining unreliable for increasing shareholder value, as most major miners hold less bitcoin per share now than three years ago. To address this, the company plans to develop data centers and use profits to acquire more bitcoin. With current holdings of 43 BTC, Cathedra believes this pivot will strengthen its financial performance and benefit shareholders by capitalizing on bitcoin’s long-term value.
Clever Robot News Desk 18th September 2024
