SATO Technologies Corp - CCPUF STOCK NEWS

SATO Technologies Corp. (TSXV: SATO, OTCQB: CCPUF) announced its Q1 2024 financial results, showing significant growth. The company reported revenue of C$5.91 million, a 51% increase compared to Q1 2023. Operating cash flows were C$415,983, and EBITDA surged by 333% to C$4.92 million. Net profit reached C$3.91 million, a dramatic turnaround from a net loss of C$510,745 the previous year. As of March 31, 2024, the company held C$7.30 million in cash and digital assets. Operationally, SATO earned 83 Bitcoins at an average electricity cost of US$20,836 per Bitcoin. Additionally, 6 MW of power equipment is ready for future growth, and the mining fleet was enhanced by 17 petahashes in April 2024. CEO Romain Nouzareth highlighted the company's mining efficiency and cost management. A live conference call detailing these results is scheduled for May 22, 2024.

SATO Technologies Corp. reported an increase in mining network hashrate by 4.4% in April 2024, following the halving event resulting in a block reward reduction. The company strategically acquired new rigs to enhance operational hashrate by 17 PH/s, aiming to reach 1 EH/s capacity. SATO plans to fund future rig acquisitions using operating cash flow and other financial instruments, with a focus on maximizing shareholder value.

SATO Technologies Corp. terminates its agreement with MTI Conseils Inc., transitioning services in-house effective May 24, 2024. The consulting services, including COO services, previously provided by MTI Conseils Inc. will now be overseen by SATO's CFO, Kyle Appelby. SATO's CEO, Romain Nouzareth, expressed gratitude for MTI Conseils Inc.'s past services.

SATO Technologies Corp. reports March 2024 Bitcoin Production and Efficiency, showcasing a 5.01% increase in mining network hashrate. The company curtailed operations for 1.34 hours due to load shedding, representing 0.18% of monthly operating hours. Key metrics include total hashrate capacity, average operating hashrate, total BTC earned, mining revenue, BTC sold, BTC hodl value, cash position, and BTC produced per EH/s.

SATO Technologies Corp. appoints Andrew Bond to its Board of Directors, replacing Fred Pye. Andrew Bond, a Wall Street veteran, brings extensive experience in capital markets, trading, equity research, and banking. His expertise in digital assets and market structure will aid SATO's growth.

SATO Technologies Corp. engages Benzinga for marketing services to boost brand awareness. Benzinga, a prominent capital markets platform, will create digital content for SATO. The US$10,000 program aims to enhance recognition and investor interest.

SATO Technologies Corp. (TSXV: SATO) announces the refiling of the Loan Agreement with Sygnum Bank AG and additional documents on SEDAR following a routine review by the Ontario Securities Commission. The Company has accepted the OSC's view that these documents should be considered material contracts, providing transparency for investors and shareholders.

SATO Technologies Corp. CEO to Host Investor Meetings at Sidoti March Virtual Investor Conference

SATO Technologies Corp. reports an 8.8% increase in mining network hashrate in February 2024, with a total hashrate capacity of 0.54 EH/s. The company sustained 10.65 hours of load shedding, representing 1.53% of monthly operating hours. SATO earned 1263 BTC with mining revenue of $1,280,174. The BTC hodl value reached $3,181,308, with a cash position of $1,186,895. SATO's all-in electricity cost per BTC ranged from $11,089 to $18,486 per month.