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Cathedra Bitcoin Inc
(CBIT)
Cathedra Bitcoin Inc (CBIT) vs. iShares MSCI Canada ETF (EWC)
Cathedra Bitcoin Inc Business Overview & Revenue Model
Cathedra Bitcoin Inc Financial Statement Overview
| Breakdown | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 23.14M | 10.92M | 8.81M | 7.80M | 1.03M |
| Gross Profit | 3.87M | -2.04M | -5.22M | 1.83M | -263.40K |
| EBITDA | 6.37M | 3.98M | -34.63M | 4.34M | 1.87M |
| Net Income | 673.84K | -5.48M | -45.03M | 718.11K | 5.05M |
Balance Sheet | |||||
| Total Assets | 71.20M | 18.86M | 25.76M | 58.37M | 16.98M |
| Cash, Cash Equivalents and Short-Term Investments | 101.37K | 2.57M | 3.22M | 9.44M | 7.05M |
| Total Debt | 6.96M | 7.35M | 18.67M | 19.83M | 698.49K |
| Total Liabilities | 27.40M | 9.60M | 20.99M | 23.78M | 952.77K |
| Stockholders Equity | 28.28M | 9.25M | 4.77M | 34.59M | 16.03M |
Cash Flow | |||||
| Free Cash Flow | -788.68K | -8.19M | -22.78M | -41.08M | -3.20M |
| Operating Cash Flow | -788.68K | -8.13M | 2.55M | -19.23M | -3.20M |
| Investing Cash Flow | 4.43M | 8.70M | -13.24M | -12.39M | -195.32K |
| Financing Cash Flow | -3.66M | -3.45M | 6.19M | 34.45M | -202.50K |
Cathedra Bitcoin Inc Technical Analysis
Cathedra Bitcoin Inc Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
64 Neutral | $68.09M | ― | -18.42% | ― | 17.11% | -26125.00% | |
62 Neutral | C$55.66M | 1.91 | -18.10% | ― | 62.11% | 72.73% | |
62 Neutral | $653.63M | ― | -15.83% | ― | 3.95% | 34.55% | |
56 Neutral | C$193.18M | 62.69 | 5.61% | ― | -9.36% | ― | |
55 Neutral | $806.14M | ― | -16.30% | ― | 30.06% | 46.14% | |
50 Neutral | C$3.14B | 2.46 | -63.57% | 2.27% | 4.49% | -6.15% | |
34 Underperform | C$8.71M | ― | -277.57% | ― | 55.13% | 90.42% |
Cathedra Bitcoin Inc Corporate Events
Cathedra Bitcoin Inc. announced the early repayment of its US$2.560 million bitcoin-backed loan, initially due in March 2026. The repayment was funded by liquidating part of its bitcoin collateral, taking advantage of the recent appreciation in bitcoin prices. This move strengthens Cathedra’s balance sheet and positions the company for strategic growth initiatives aimed at enhancing shareholder value.
Cathedra Bitcoin Inc. has announced a leadership transition with the appointment of Joel Block as the new Chief Executive Officer and Chairman of the Board. This change comes as former CEO AJ Scalia and President Drew Armstrong step down but remain as advisors during the transition. Mr. Block brings extensive experience from his previous roles, including a significant merger in the bitcoin mining industry. The leadership change is expected to drive Cathedra’s strategic vision and operational excellence, positioning the company for future growth in the rapidly evolving bitcoin sector.
Cathedra Bitcoin Inc. reported an 11% increase in revenue for Q1 2025 compared to the previous year, alongside strategic financial maneuvers such as prepaying convertible debt at a discount and entering a new loan secured by bitcoin. The company is expanding its operations with a new power purchase agreement in Tennessee and a partnership with Synota Inc. to improve cash flow and payment flexibility. Additionally, Cathedra is involved in a joint venture to sell a bitcoin mining facility in North Dakota, which is expected to close soon. These developments underscore Cathedra’s strategy to optimize capital structure and expand its data center portfolio, while aiming to list on a major U.S. stock exchange to enhance liquidity and capital access.
Cathedra Bitcoin Inc. has announced its participation in key conferences in May 2025, with President & COO Drew Armstrong speaking on panels at both the Consensus conference in Toronto and the Bitcoin 2025 conference in Las Vegas. These appearances highlight Cathedra’s active engagement in the bitcoin industry and its focus on strategies related to AI, high-performance computing, and treasury management, potentially enhancing its industry positioning and stakeholder engagement.
Cathedra Bitcoin Inc. has repurchased and canceled 14.2 million subordinate voting share purchase warrants for approximately US$75,002. This strategic move, along with a previous repurchase, aims to eliminate potential future dilution and enhance shareholder value by capitalizing on stock volatility. The cancellation of these warrants is expected to positively impact the company’s financial structure and market positioning.
Cathedra Bitcoin Inc. reported a significant financial performance improvement for the fiscal year 2024, with a 55% increase in total revenues and a substantial rise in shareholders’ equity. The company also made strategic moves, including prepaying its senior secured convertible debentures and entering into new partnerships and agreements to enhance its operational efficiency and expand its infrastructure. These developments are expected to strengthen Cathedra’s position in the bitcoin mining industry and provide greater financial flexibility.
Cathedra Bitcoin Inc. announced plans to restate its financial statements for the third quarter of 2024 due to errors discovered in the historical financial statements of Kungsleden, Inc., a company it acquired in 2024. These errors affected the company’s financial statements, necessitating a broader audit and restatement. The restatement is not expected to impact the company’s cash balance or financial performance for the period, but the previous financial filings should no longer be relied upon.