Cathedra Bitcoin Inc. is launching a non-brokered private placement to raise up to C$2.5 million for bitcoin purchases, infrastructure expansion, and general corporate needs. The company has shifted its focus from bitcoin mining to bitcoin acquisition and digital infrastructure development, similar to Microstrategy. The offering includes 25 million units priced at C$0.10 each, with each unit containing a subordinate voting share and a share purchase warrant. Proceeds will support infrastructure growth, bitcoin purchases, and general company activities. The offering is expected to close on or around October 9, 2024, pending regulatory clearance. Cathedra's move follows other firms in the industry conducting stock sales to strengthen their operations amidst challenges faced by bitcoin miners.



Other News from Today