Cathedra Bitcoin Q2 Earnings: Net Loss of C$4.2M, Revenue at C$5.2M

Cathedra Bitcoin reported a Q2 net loss of C$4.2 million, primarily due to an unrealized foreign exchange loss of $2.3 million. However, the company's revenue reached C$5.2 million.

Cathedra Bitcoin Inc. (CBTTF), a leading provider of high-density digital infrastructure for bitcoin mining, reported its Q2 2025 financial results, revealing a net loss of C$4.2 million, primarily driven by an unrealized foreign exchange loss of C$2.3 million. Despite this loss, the company's revenue reached C$5.2 million.

The quarter saw several key developments. Joel Block was appointed as the new CEO and Chairman, succeeding AJ Scalia and Drew Armstrong, who will remain as advisors. Block brings extensive experience from his previous roles, including serving as CFO of US Bitcoin Corp and managing the spin-off of Celsius Network's bitcoin mining subsidiary.

Significant operational milestones included the execution of a lease agreement for a new 15-megawatt data center, expected to increase power capacity by 50%. Additionally, Cathedra announced the early repayment of a US$2.56 million bitcoin-backed loan, liquidating 21.6 bitcoin from its collateral to capitalize on bitcoin's 50% price appreciation since the loan's inception in March 2025.

Cathedra retained 28.9 bitcoin for working capital, indicating a strategic focus on maintaining liquidity. The company continues to expand its data center operations and explore new partnerships, such as the one with Kungsleden Inc., to maximize per-share bitcoin holdings through hybrid mining-hosted revenue models.

References:
[1] https://www.stocktitan.net/news/CBTTF/
[2] https://www.stocktitan.net/news/CBTTF/