SATO Technologies Corp. Announces Expansion into Next Gen Power Infrastructures for AI/HPC with a Vision to Build Large Scale Computing-Power Factories
SATO Technologies Corp (TSXV: SATO, OTCQB: CCPUF) announced a strategic expansion from Bitcoin computing into AI and High-Performance Computing (HPC) infrastructure. The company plans to leverage its 20 MW hydro-electric facility in Quebec to create next-generation computing power factories. SATO received a partial tax credit reimbursement from the Canada Revenue Agency, which will help fund this initiative. The company aims to build an ecosystem of computing facilities in North America that combines blockchain with emerging technologies like AI, maintaining its focus on sustainability and operational excellence.
SATO Technologies Corp (TSXV: SATO, OTCQB: CCPUF) ha annunciato un'espansione strategica dal calcolo Bitcoin all'infrastruttura di Intelligenza Artificiale e Calcolo ad Alte Prestazioni (HPC). L'azienda intende sfruttare la sua struttura idroelettrica da 20 MW in Quebec per creare fabbriche di potenza di calcolo di prossima generazione. SATO ha ricevuto un rimborso parziale del credito d'imposta dall'Agenzia delle Entrate canadese, che aiuterà a finanziare questa iniziativa. L'azienda mira a costruire un ecosistema di strutture di calcolo in Nord America che combini blockchain con tecnologie emergenti come l'IA, mantenendo il suo focus sulla sostenibilità e sull'eccellenza operativa.
SATO Technologies Corp (TSXV: SATO, OTCQB: CCPUF) anunció una expansión estratégica del cálculo de Bitcoin hacia la infraestructura de Inteligencia Artificial y Computación de Alto Rendimiento (HPC). La empresa planea aprovechar su instalación hidroeléctrica de 20 MW en Quebec para crear fábricas de potencia informática de próxima generación. SATO recibió un reembolso parcial de crédito fiscal de la Agencia de Ingresos de Canadá, lo que ayudará a financiar esta iniciativa. La compañía tiene como objetivo construir un ecosistema de instalaciones de computación en América del Norte que combine blockchain con tecnologías emergentes como la IA, manteniendo su enfoque en la sostenibilidad y la excelencia operativa.
SATO Technologies Corp (TSXV: SATO, OTCQB: CCPUF)는 비트코인 컴퓨팅에서 AI 및 고성능 컴퓨팅(HPC) 인프라로의 전략적 확장을 발표했습니다. 이 회사는 퀘벡에 있는 20 MW 수력 시설을 활용하여 차세대 컴퓨팅 파워 공장을 만들 계획입니다. SATO는 캐나다 국세청으로부터 부분적인 세액 공제 환급을 받았으며, 이는 이 이니셔티브를 지원하는 데 도움이 될 것입니다. 이 회사는 블록체인과 AI와 같은 신기술을 결합한 북미의 컴퓨팅 시설 생태계를 구축하는 것을 목표로 하며, 지속 가능성과 운영 우수성에 주력하고 있습니다.
SATO Technologies Corp (TSXV: SATO, OTCQB: CCPUF) a annoncé une expansion stratégique du calcul Bitcoin vers l'infrastructure d'Intelligence Artificielle et de Calcul Haute Performance (HPC). La société prévoit de tirer parti de sa centrale hydroélectrique de 20 MW au Québec pour créer des usines de puissance informatique de nouvelle génération. SATO a reçu un remboursement partiel de crédit d'impôt de l'Agence du revenu du Canada, ce qui aidera à financer cette initiative. L'entreprise vise à construire un écosystème d'installations de calcul en Amérique du Nord qui combine la blockchain avec des technologies émergentes comme l'IA, tout en maintenant son engagement envers la durabilité et l'excellence opérationnelle.
SATO Technologies Corp (TSXV: SATO, OTCQB: CCPUF) hat eine strategische Expansion von Bitcoin-Computing hin zur Infrastruktur für Künstliche Intelligenz und Hochleistungsrechnen (HPC) angekündigt. Das Unternehmen plant, seine 20 MW Wasserkraftanlage in Quebec zu nutzen, um Fabriken für Rechenleistung der nächsten Generation zu schaffen. SATO erhielt eine teilweise Rückerstattung von Steuervergünstigungen der kanadischen Steuerbehörde, die zur Finanzierung dieser Initiative beitragen wird. Das Unternehmen strebt an, ein Ökosystem von Rechenzentren in Nordamerika aufzubauen, das Blockchain mit aufstrebenden Technologien wie KI kombiniert und dabei den Fokus auf Nachhaltigkeit und betriebliche Exzellenz legt.
- Diversification of business model into AI and HPC markets
- Access to 20 MW of stable, renewable hydro-electricity in Quebec
- Received partial reimbursement of tax credits from CRA to fund expansion
- Leveraging existing infrastructure and expertise for new revenue streams
- Final amount of CRA tax credit refund remains uncertain
- Additional financing needed to support strategic initiatives
- Significant capital investment required for infrastructure expansion
Toronto, Ontario--(Newsfile Corp. - October 24, 2024) - SATO Technologies Corp. (TSXV: SATO) (OTCQB: CCPUF) (the "Company", or "SATO"), a leader in efficient Bitcoin computing started in 2017 and publicly listed since 2021 on the Canadian TSX Venture Exchange, is announcing a transformative expansion of its business strategy.
Building on its established expertise in the high performance computing blockchain sector, SATO plans to expand its digital infrastructure offerings to include advanced and efficient computing infrastructures for Artificial Intelligence (AI), High-Performance Computing (HPC), and future-ready technologies such as zero proof knowledge, or quantum computing. This initiative is expected to place SATO at the forefront of hybrid computing power innovation.
SATO plans to utilize its existing 20 MW of hydro-electricity from Québec - a region recognized for its stable and renewable energy resources - to power the first phase of its next-generation data center.
Clients interested in accessing our computing power can reach out through our website: https://bysato.com/ai.
In October, SATO received a partial reimbursement from the Canada Revenue Agency (CRA) for previously claimed sales tax credits. As previously disclosed in the Company's financial statements for the three and six months ended June 30, 2024, SATO has recorded a receivable, with a provision for uncollectible taxes. The CRA's review of the sales tax credits remains ongoing, and the final refund amount remains uncertain. The recovery of these funds is expected to play a key role to kickstart SATO's strategic investment in developing its next-generation data center designs and facilities, advancing the Company's platform for energy-sensitive, business-critical applications. Additionally, the Company is exploring various alternatives for additional financing to support its strategic initiatives.
"We're not just focused on one form of power; we're about all forms of computing, from ExaHashes to ExaFlops," said Romain Nouzareth, CEO and co-founder of SATO. "Starting in our 20 MW center in Canada, we aim to build an ecosystem of computing power factories in North America that integrates blockchain with emerging technologies like AI or any type of computing power, while upholding our commitment to sustainability and operational excellence." He added, "We're also looking for creative builders, forward-thinking individuals to join our team as we embark on this new journey."
This hybrid model enables SATO to evolve its infrastructure in step with the shifting needs of the digital economy. In addition to its continued focus on Bitcoin, the new computing power factories will offer critical computational power for AI research, machine learning, data analytics, quantum computing, and other resource-intensive applications.
SATO's expertise in energy-efficient Bitcoin computing, coupled with Quebec's stable renewable energy, provides a strong competitive edge as the company diversifies into AI and HPC sectors. The 20 MW energy allocation marks the start of SATO's long-term investment in Power Compute data centers, designed to support diverse computing needs for the digital future.
Follow our progress on LinkedIn: linkedin.com/company/satocorp, on X (formerly Twitter): x.com/Sato_Compute, or subscribe to our Mailing List: https://www.bysato.com/?action=subscribe.
On behalf of the board,
Romain Nouzareth,
SATO CEO and Chairman
About SATO
SATO, founded in 2017, is a publicly listed company providing efficient computing power. The Company currently operates one center tailored to produce compute power for Bitcoin Computing, but may look to expand or add additional data centers for computing power for Bitcoin Computing, High Power Computing ("HPC"), Artificial Intelligence ("AI"), and L2's. The Company is listed on TSXV: SATO and OTCQB: CCPU.F. To learn more about SATO, visit www.bysato.com.
For additional information, please contact:
Romain Nouzareth
invest@bysato.com
Phone: +1 (347) 280 3663
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. In particular, forward-looking statements include, among other things: statements regarding the Company's planned expansion into next gen power infrastructures for artificial intelligence and high performance computing and the planned buildout of computing power factories, the anticipated effects and benefits to the Company associated with the same, its integration into the Company's current operations and the use of such new facilities; the ability to be reimbursed for previously claimed sales tax, the use of such proceeds and the effect of such reimbursement and use of proceeds; and that the Company will have a competitive advantage as it diversifies into the AI and HPC sectors. 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. Such factors include, but are not limited to, risks associated with: ability to raise capital in debt or equity, as needed, on appropriate terms; effective implementation and deployment of the Company's AI and HPC solutions; general economic, market and business conditions; competitive factors; achieving strategic objectives; inability to or delays in sourcing materials; production delays or certification delays; and other factors set out in the "Risk Factors" section of the Company's management's discussion and analysis for the three and six months ended June 30, 2024 and Company's annual information form for the year ended December 31, 2023, which may be found on its website or at www.sedarplus.ca. 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/227674
FAQ
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