Cathedra Bitcoin Plans to Deploy Bitcoin Miners at 360 Mining's Texas Site

Bitcoin mining company Cathedra Bitcoin (CBIT) has entered into a partnership with off-grid Bitcoin mining company 360 Mining and plans to deploy mobile data centers and Bitcoin mining machines at the Texas site owned by 360 Mining. 360 Mining provides the natural gas and power generation infrastructure to provide continuous power to Cathedra's Bitcoin miners. Cathedra will pay 360 Mining $55 per megawatt-hour of electricity consumed, plus 10 percent of the total bitcoin mined at the site. When fully developed, the site is expected to generate at least 54 petahash per second (PH/s) incremental hashrate, Cathdera said. Both parties also retain the option to abandon bitcoin mining in order to sell the gas to the market if it is economically favorable. The partnership gives Cathedra the rights to 2.0 MW of generating capacity, with an initial deployment of 0.3 MW over the next 60 days.