COINOTAG news reported on September 17, citing Cointelegraph, that the Canadian Bitcoin mining firm Cathedra Bitcoin is halting its seven-year mining operation to seize new opportunities. The company is shifting its focus towards acquiring Bitcoin on the open market, similar to the strategy employed by MicroStrategy.
In its “Bitcoin Financial Strategy Memorandum” dated September 16, Cathedra stated that the new approach aims to prioritize the maximization of Bitcoin reserves per share—a metric deemed critical by the company’s significant shareholders. To achieve this goal, Cathedra plans to issue stocks, debt options, or hybrid securities to procure additional Bitcoin. The firm might also leverage some of its balance sheet assets for borrowing purposes.