DRP Journal

Discover Research Profit

Finance 

Cathedra Bitcoin Inc (OTCMKTS:CBTTF) Stock In Focus After Partnership News

Ian Leigh , , , ,

On June 2 Cathedra Bitcoin Inc (OTCMKTS:CBTTF) was in significant focus after it announced that it had gone into a strategic partnership with 360 Mining Inc, an off-grid Bitcoin company that had incorporated in Delaware. It could well be a good idea for investors to consider taking a closer look into the specifics of the agreement in order to have a better idea about it.

Trading Data

On Friday, CBTTF stock lost 2.14% to $0.0822 with more than 44.70K shares, compared to its average volume of 76.74K shares. The stock moved within a range of $0.0822 – 0.0852 after opening trade at $0.0840.

Cathedra Bitcoin Announces Off-Grid Bitcoin Mining Partnership With 360 Mining

Cathedra would be responsible for deploying the mobile data centers and the Bitcoin mining machines at the off-grid location in Texas that belongs to 360 Mining. In exchange, 360 Mining would be responsible for the natural gas and power generation infrastructure which would provide uninterrupted power to the Bitcoin Mining infrastructure of Cathedra.

As per the provisions of the agreement, 360 Mining would be paid $55 per megawatt hour by Cathedra for the power consumer and a 10% gross of all the Bitcoin mined at the facility on top of that. The two companies also agreed to stop from mining Bitcoin and instead sell the natural gas in the open market if it became more commercially advantageous to do so. It could be a good time to keep an eye on the Cathedra Bitcoin stock.

Ian Leigh

Ian Leigh is a specialist in analyzing stocks, SEC and OTC filings, and financials of public and privately-held companies. He has played a significant role in M&A activity, consulting with publicly-held firms on acquisitions and divestitures. He also consults on valuations and branding. He lectures at major universities and teaches at specialty financial schools.