Cathedra Bitcoin Stops Mining and Follows MicroStrategy’s Playbook to Buy Bitcoin on Open Market

Cathedra Bitcoin has announced a strategic shift, deciding to cease mining operations and focus on acquiring Bitcoin on the open market, following MicroStrategy’s approach. The company stated that mining hasn’t provided enough shareholder value on a Bitcoin basis over the last three years.

Cathedra plans to develop data centers to generate predictable cash flows, which will be used to purchase additional Bitcoin. The firm also intends to retain the Bitcoin produced from its existing mining operations.

This move reflects a broader trend in the industry. Nine out of the ten largest publicly listed crypto mining companies now hold less Bitcoin per share than they did three years ago, prompting them to reassess their strategies.