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Cathedra is Attractively Valued Relative to Public Market Peers Total Enterprise Value to Active Hash Rate 0.20x RIOT 0.16x 0.13x 0.10x 0.09x Median: 0.13x 0.07x CleanSpark B MARATHON Cipher Mining DIGITAL HOLDINGS Bitfarms Cathedra Source: Company filings, press releases, and investor presentations; Yahoo! Finance as of December 6, 2023. 45 25 O

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