Cathedra Bitcoin Inc., a diversified bitcoin mining company, has announced a merger with Kungsleden, Inc., a key player in high-density compute infrastructure.

The binding share exchange agreement, dated March 6, 2024, is set to result in a reverse takeover, with Kungsleden becoming a wholly owned subsidiary of Cathedra.

Upon the merger’s completion, Kungsleden shareholders are poised to own approximately 77.5% of Cathedra’s equity, effectively gaining control over the merged entity.

This strategic consolidation is anticipated to position the newly formed corporation as a Tier 2 Technology issuer on the TSX Venture Exchange, with a sharpened focus on developing data center infrastructure crucial for the digital economy and bitcoin mining operations.

“We are excited to contribute to Cathedra’s business through this Transaction. Importantly, we are not merely acquiring a portfolio of data center assets in this merger; we are joining forces with the team responsible for developing these assets,” remarked Antonin Scalia, Chief Executive Officer of Cathedra Bitcoin.

“Kungsleden has established a scalable, repeatable process for developing bitcoin mining data centers with impressive construction costs and time-to-market. We also see opportunity beyond the bitcoin mining end-market, with the potential to apply these infrastructure development capabilities to the traditional data center and high-performance compute markets.”

Thomas Masiero, Chief Executive Officer of Kungsleden, stated, “With our merger, Kungsleden and Cathedra are forging a path to potentially becoming a digital infrastructure leader. This strategic union combines our expertise, resources, and ambition, enabling us to set a high standard for bitcoin mining operations.”