Mr. Sean Ty reports

CATHEDRA BITCOIN ANNOUNCES CLOSING OF DEBT SETTLEMENT AND DEBENTURE EXTENSION

Cathedra Bitcoin Inc., further to its previous news release on Nov. 21, 2023, has settled a portion of the outstanding principal amount of debentures (as defined below) equal to $10,743,329 into 96,439,227 common shares of the company. The shares were issued at a deemed price of 11.14 cents per share. The debt was payable to certain debentureholders in respect of 3.5 per cent senior secured convertible debentures of the company due Nov. 11, 2024, originally issued to the debentureholders on Nov. 11, 2021.

In connection with the debt settlement, the company has also repaid $2-million to retire $3,333,333 of the outstanding principal amount of the debentures, leaving an aggregate principal amount outstanding of the debentures equal to $5,733,728 as of the date hereof.

Additionally, the maturity date for the remaining principal has been extended by an additional 12 months to Nov. 11, 2025. No other changes to the debentures were made; the company will continue to pay quarterly interest at 3.5 per cent per annum on the remaining principal balance until the extended maturity, whereupon the remaining principal is due in full.

All securities issued pursuant to the debt settlement are subject to a four-month-and-one-day hold period from the closing date of the debt settlement.

About Cathedra Bitcoin Inc.

Cathedra Bitcoin is a bitcoin company that believes sound money and abundant energy are the keys to human flourishing. The company has diversified bitcoin mining operations, which produce 355 petahashes per second across three states and five locations in the United States. The company is focused on managing and expanding its portfolio of hash rate through a diversified approach to site selection and operations, utilizing multiple energy sources across various jurisdictions.

We seek Safe Harbor.