According to BlockBeats, on September 17, Cointelegraph reported that Canadian Bitcoin mining company Cathedra Bitcoin is stopping its seven-year mining business and adopting a new strategy: buying as much Bitcoin as possible on the open market like MicroStrategy.
In a “Bitcoin Financial Strategy Memorandum” dated September 16, Cathedra explained that its new plan will direct “all capital allocation decisions” toward maximizing the company’s per-share Bitcoin reserves — a metric considered “most important” by many of its largest shareholders. Similar to companies like MicroStrategy and Metaplanet, Cathedra will issue equity, debt options, or hybrid securities to buy more Bitcoin. The company may also borrow against some of its balance sheet assets.
