Cathedra Bitcoin grants CEO Joel Block 43.4 million restricted share units

Cathedra Bitcoin Inc. (TSXV: CBIT) (OTCQB: CBTTF) announced it has entered into an employment agreement with Joel Block to continue serving as Chief Executive Officer, replacing an existing consulting arrangement.

Under the employment agreement, Block received 43,427,522 restricted share units that can be redeemed for subordinate voting shares of the company. The RSUs were granted through the company's long-term incentive plan and will vest in equal portions on the first, second and third anniversaries of the grant date.

The restricted share units are subject to applicable securities laws and require approval from the TSX Venture Exchange.

Cathedra develops and operates digital infrastructure assets across North America. The company hosts bitcoin mining clients across three data centers totaling 30 megawatts in Tennessee and Kentucky. It recently developed and sold a 60-megawatt data center in North Dakota through a joint venture where Cathedra held a minority interest.

The company operates bitcoin mining machines at its own and third-party data centers, producing approximately 400 petahash per second of hash rate. Cathedra is headquartered in Vancouver and its subordinate voting shares trade on the TSX Venture Exchange under the symbol "CBIT" and on the OTC market under "CBTTF".

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