Public Bitcoin Miner SATO Technologies Corp. Releases June 2023 Bitcoin Mining Operational Update

Rhea-AI Summary

SATO Technologies Corp. announces June 2023 Bitcoin production and efficiency.

Positive

• 38.72 Bitcoin mined in June 2023, generating $1,075,000 in monthly revenues based on average price of $27,763 per BTC.
• Average of 5,518 rigs operating throughout the month, with an aggregate average of 0.526 EH/s running.
• Weighted average of 75.25 BTC mined per 1 EH/s.
• Low renewable energy costs at approximately $0.0288/kWh.

Negative

• None.

Toronto, Ontario--(Newsfile Corp. - July 6, 2023) - SATO Technologies Corp. (TSXV: SATO) (OTCQB: CCPUF) (the "Company", or "SATO"), one the most performant innovation driven digital asset mining pioneers, ready for AI and High Performance Computing infrastructure deployment, is pleased to announce June 2023 Bitcoin Production and Efficiency.

June 2023 Highlights (unaudited):

• 38.72 Bitcoin mined in June 2023 (Monthly average, aggregate of self-mining and hosting) or the equivalent in USD of $1,075,000 in monthly revenues based on June 2023's average price of $27,763 per BTC;
• 5,518 Average rigs operating throughout the month (self-mining and hosting) for an aggregate average 0.526 EH/s running during the month;
• Weighted average Bitcoin mined per 1 EH/s: 75.25 BTC
• Bitcoin Mined on site per day: 1.29 BTC (Daily average, aggregate of self-mining and hosting)
• One of the lowest renewable energy costs at approximately USD$0.0288/kWh (equivalent CAD$0.03830). The Company also pays monthly demand charge of CAD$13.63 per kilowatt, on its Contracted Reserve. The total energy cost aggregates to USD 0.043 per kWh.

"Our Company continues to lead the way in digital asset mining, showcasing robust operational efficiency and a commitment to innovation, driven by a lean team. As we continue to navigate a dynamic landscape, our focus on growing our Bitcoin mining power and adding AI and High Performance Computing infrastructure, alongside a mindful approach to energy consumption, underscores our commitment to the future of this pioneering sector," says Romain Nouzareth, CEO of SATO Technologies.

About SATO
SATO, Founded at Bitcoin block 494673 in 2017, is a vertically integrated innovator in the field of computing power commodities, specializing in low-cost-high-performance computing power made for bitcoin mining, AI & HPC by efficiently operating a 20 MW data center that generates nearly 0.6 EHs of mining power. Listed on TSX.V:SATO & OTCQB:CCPU.F since 2021, the Company prides itself on outstanding performance, financial stability, and a top-tier team. Around 65% of the Company's securities (on a fully diluted basis) are owned by Officers, Directors, and significant shareholders with a long term vision. To learn more about SATO's distinct vision, ambitious goals and meet the team, visit www.bysato.com.

For additional information, please contact:
Investor Relations: invest@bysato.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Cautionary Statement Regarding Forward-Looking Information

This news release contains certain forward-looking statements, including statements relating to the future performance of the Company, and other statements that are not historical facts. Wherever possible, words such as "may", "will", "should", "could", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict" or "potential" or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management's current beliefs and are based on information currently available to management as at the date hereof.

Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/172505

FAQ

What is the Bitcoin production for June 2023?

38.72 Bitcoin were mined in June 2023.

How much revenue was generated from Bitcoin mining in June 2023?

The monthly revenues amounted to $1,075,000 based on an average price of $27,763 per BTC.

What is the average number of rigs operating in June 2023?

The average number of rigs operating throughout the month was 5,518.

What is the average energy efficiency of SATO's mining operations?

The weighted average was 75.25 BTC mined per 1 EH/s.

What are SATO's energy costs?

SATO has one of the lowest renewable energy costs at approximately $0.0288/kWh.