Cathedra Bitcoin Financial Report: Revenue from Bitcoin Mining Operations Grows 24% to C$10.9 Million in 2023

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Cointime2024/04/01 12:24

By:Cointime

Cathedra Bitcoin, a bitcoin mining company, has released its Q4 and full-year financial performance for 2023. The report shows that:· Revenue from bitcoin mining operations increased by 24% to CAD 10.9 million, compared to CAD 8.8 million in 2022.· The total amount of bitcoin produced by mining operations increased by 13% to 279.2 bitcoins, compared to 246.9 bitcoins in 2022.· As of December 31, 2022, the total debt was CAD 22.4 million, which decreased by 75% to CAD 5.7 million, with debt repayment bringing in CAD 5.5 million in revenue. In addition, the company extended the term of the remaining CAD 5.7 million debt by 12 months to November 2025.· As of December 31, 2022, shareholder equity increased by 94% from CAD 4.8 million to CAD 9.3 million. · As of March 28, 2024, the company holds CAD 1.5 million in cash and CAD 4.3 million in bitcoin (44.8 bitcoins), with a total current assets of CAD 5.8 million.

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