Canadian Miner Cathedra Bitcoin to Transition to Data Center Operations
CryptoNewsTerminal Staff16 Sep, 2024
Canadian Miner Cathedra Bitcoin to Transition to Data Center Operations
Canadian Miner Cathedra Bitcoin to Pivot Business Model to Data Center Operations In a move to increase revenue and accumulate more bitcoin, Canadian miner Cathedra Bitcoin (CBIT) has announced that it will transition its primary business model to data centers. The company plans to use the revenue earned from developing and operating data center operations to buy bitcoin. "The primary goal will be to continue to accumulate bitcoin for our shareholders," the company said. "To do so, we plan to focus on developing and operating data centers where cash flows are predictable." Cathedra Bitcoin will not abandon mining altogether. However, the company believes that data center operations offer a more stable and predictable source of revenue. By shifting its focus to data center operations, Cathedra Bitcoin believes it can generate more revenue and, in turn, buy more bitcoin. The transition to data center operations is a significant shift for Cathedra Bitcoin. However, the company believes that it is the right move for the long-term. By focusing on data center operations, Cathedra Bitcoin believes it can create a more sustainable and profitable business model.
