08:20 AM EDT, 07/11/2025 (MT Newswires) -- Cathedra Bitcoin ( CBTTF ) on Friday said it appointed Joel Block as chief executive officer and chairman.

AJ Scalia, the former CEO, and Drew Armstrong, the former president and chief operating officer, resigned, but will remain in an advisory capacity during a transitionary period.

Block most recently served as chief financial officer of US Bitcoin Corp, where he led its merger with Hut 8 Corp, the "largest bitcoin mining merger transaction at the time." He also led the spin-off of Celsius Network's bitcoin mining subsidiary in connection with its bankruptcy proceedings, which became Ionic Digital Inc. Block also served in a number of roles at Credit Suisse, including as a vice president on the Institutional Fixed Income Sales team.

Block "brings a rare combination of strategic vision, technical depth, and a strong ability to execute. Joel has consistently scaled businesses with focus and speed, even in volatile markets-making him the right leader for this next chapter," said Gavin Qu, Cathedra Bitcoin's ( CBTTF ) outgoing chairman.