(I live above 60 degrees north - it's well past -40 here today)
 Unless he's using Kelvins.
[*] Sometimes negative temperatures are used to represent temperatures ABOVE infinity. That's when high-energy quantum states are MORE populated than low-energy quantum states... it's useful for things like making a laser. But I still think it's unreasonable to believe that the temperature outside is -40 kelvin.
Even the digital ones just say "-40.0C" at about 6pm, and won't show anything else until 17 hours later when the sun comes back, and they creep up a few degrees.
I rode my bike in yesterday at around -45C. The snow drifts were too big today, so I walked for 35 minutes instead.
I don't think anyone would ever ride a road bike in the winter, it would not be possible with the snow the way it is (deep, often drifting, rarely cleared)
Tons of people up here ride "fat tire" winter bikes with up to 4.5 inch tires. They ride the downhill trails right through winter.
(I used a cordless drill and just drove them through - took 30 minutes all done)
It's not clear why your thermometers don't register below -40, unless it's a legacy of the mercury thermometer limitation baked into the product (or frozen in, so to speak).
I also ride my bike to work every day, and I ski patrol at the local mountains on the weekend.
I went camping in -35C two weekends ago, it was great!
One of the hardest things to deal with is condensation and sweat - anything even remotely damp (socks, sleeping bag, boots, gloves) will be frozen rock solid in the morning.
I have no experience of camping in temperatures as low as -35C. However, I have found that camping in Scottish mountains it is much more pleasant when it is in the range 0 to -10C than just above freezing.