Cathedra Bitcoin Inc. (OTCMKTS:CBTTF) dropped 5% after the Bitcoin firm that creates and runs leading bitcoin mining infrastructure announced the shipping of the first batch of its 750 new Bitmain Antiminer S19j Pro machines, which will be delivered to its Washington Facility.
Market Reaction
On Friday, CBTTF stock fell 4.70% to $0.3812 with 257K shares, compared to its average volume of 95K shares. The stock moved within a range of $0.3771 – 0.4300 after opening trade at $0.41.
Cathedra Bitcoin Announces Shipment of First Batch of Bitmain Machines
The company will install 560 of the new machines at the Washington Facility, replacing the depreciated Bitmain Antiminer S9 mining machines, ultimately boosting the company’s hash rate to 67 PH/s. The other 190 machines will be shipped to Cathedra’s New Hampshire production facility for testing the first completed lot of the company’s mining rovers.
Cathedra has ordered 4,350 more new-generation machines, which will be shipped in monthly batches throughout the year. According to the firm’s varied approach to facility location and operations, this equipment will be deployed in a mix of off- and on-grid mining areas. After deployment, the company expects the hash rate to be around 725 PH/s by the end of the year. So investors should watch CBTTF in the coming weeks.
