Cathedra Bitcoin (CBIT, CBTTF) announced on Friday that Joel Block will become its Chief Executive Officer and chairman of the Board, effective July 10, 2025, as former CEO AJ Scalia and President and COO Drew Armstrong resign their officer and board roles and transition to advisory positions
Block joins from US Bitcoin Corp., where he led its merger with Hut 8 Corp as CFO. Block also oversaw the $750 million spin-off of Celsius Network’s mining arm, and brings experience from leadership roles at Collegewise and Credit Suisse in capital markets and derivatives.
Outgoing chairman Gavin Qu praised Block’s strategic vision and execution skills, thanking Scalia and Armstrong for building Cathedra into a vertically integrated developer and operator of bitcoin-mining data centers across Tennessee and Kentucky. Scalia noted his pride in the company’s growth under his tenure and confidence in Block’s ability to guide the next phase
Cathedra operates three data centers totaling 30 MW and maintains a 400 PH/s proprietary mining fleet, with a 60 MW North Dakota facility sale closing in 2025. The Toronto-based company trades on the TSX Venture Exchange.
