SATO Technologies Corp. Announces August 2023 Bitcoin Mining Operational Update

Rhea-AI Summary

SATO Technologies Corp. announces August 2023 Bitcoin Production and Efficiency, with a 2.1% increase in mining hashrate. Mining revenue for August was $1,078,161. SATO highlights top-tier ranking among mining companies. SATO plans to attend various conferences in the second half of 2023.

Positive

• 2.1% increase in mining hashrate
• Mining revenue of $1,078,161 for August
• Top-tier ranking among mining companies

Negative

• None.

Toronto, Ontario--(Newsfile Corp. - September 1, 2023) - SATO Technologies Corp. (TSXV: SATO) (OTCQB: CCPUF) (the "Company", or "SATO"), one of the most performant innovation driven digital asset mining pioneers, announces August 2023 Bitcoin Production and Efficiency, all powered by renewable energy.

August Mining Update (unaudited)

In August, the mining network hashrate increased by 2.1% month over month.

Key Metrics	August 2023	July 2023	June 2023
Total Hashrate Installed	0.54 EH/s (100% self-mining)	0.54 EH/s (100% self-mining)	0.54 EH/s
Average operating Hashrate	0.526 EH/s	0.495 EH/s	0.526 EH/s
Total BTC Mined on site	39	37	39
Mining revenue (US$'000)	1,078,161	1,099,803	1,082,765
Avg. monthly Network Hashrate	386 EH/s	378 EH/s	370 EH/s
BTC Sold	46	6	13
BTC HODL	36	43	30

 

Furthermore, SATO is providing historical financial data for analysts and investors to compare us with our peers. This will highlight our top-tier ranking relative to the largest publicly traded mining companies.

BTC produced per Eh/s
Month	Jan	Feb	March	April	May	June	July	Aug
Ratio	108.68	90.30	90.74	80.19	91.17	75.25	74.74	74.14

 

Electrical price per BTC (USD)
Month	Jan	Feb	March	April	May	June	July
kWh cost	$6,484	$6,997	$8,105	$9,542	$8,662	$9,488	$10,202
All-in electrical cost	$9,971	$11,089	$12,207	$14,550	$13,211	$14,455	$15,780

"In our pursuit of excellence, efficiency remains paramount. As we navigate these pivotal growth phases in our Bitcoin mining operations, our unwavering focus is on maximizing production and minimizing costs. Concurrently, we are diligently looking into expanding our offerings in High Performance Computing (HPC) and Artificial Intelligence (AI)", says Romain Nouzareth, Chairman & CEO.

Upcoming conferences

SATO currently plans to attend the following conferences during the second half of 2023:

• September 7st: Sygnum annual event, Zurich - Switzerland
• September 11-13th: H&C Wainwright 25th Annual Global Investment Conference, NYC, USA
• September 12th: True Global Ventures 66th Conference. Live Event
• September 21st: Bitcoin Mining in Quebec by Canadian Blockchain Consortium, Montreal - Canada
• October 12-13th: BTC Amsterdam - Netherland
• October 25-26th: Canadian Blockchain Summit, Toronto - Canada
• October 30-31st: AIM Summit, Dubai - UAE

On behalf of the board,

Romain Nouzareth,
SATO CEO and Chairman

About SATO

SATO, founded in 2017, is a publicly listed company positioned for ongoing success in deploying computing power for Bitcoin Mining, High Power Computing ("HPC"), and Artificial Intelligence ("AI"), via proprietary data centers designed to provide efficient compute power tailored for the digital world. 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 securities (on a fully diluted basis) owned by Officers, Directors, Insiders and Shareholders above 7% with 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:

Romain Nouzareth
invest@bysato.com

Full Disclaimer https://corp.bysato.com/documents/disclaimer.html

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. 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/179337