Golden Finance reported that Canadian Bitcoin mining company Cathedra Bitcoin is stopping its seven-year mining operations and adopting a new strategy: buying as many Bitcoins as possible on the open market like MicroStrategy. In a "Bitcoin Financial Strategy Memorandum" on September 16, Cathedra explained that its new plan will make "all capital allocation decisions" move in the direction of maximizing the company's Bitcoin reserves per share-this is what many of the largest shareholders consider to be the "most important" indicator. Similar to companies such as MicroStrategy and Metaplanet, Cathedra will issue stocks, debt options or hybrid securities to buy more Bitcoin. The company may also borrow against some of its balance sheet assets. Treasury data shows that the company currently holds 23 Bitcoins, worth $2.5 million, and is the 45th largest corporate Bitcoin holder.