SATO Technologies Corp. Announces July 2024 Bitcoin Computing Operational Update

Rhea-AI Summary

SATO Technologies Corp. (TSXV: SATO) (OTCQB: CCPUF) has released its July 2024 Bitcoin Computing Operational Update. Key highlights include:

- Total Installed Hashrate Capacity: 0.56 EH/s
- Average Operating Hashrate: 0.46 EH/s
- Total BTC earned: 11
- Mining Revenue: $708,636
- All-in Electricity Cost per BTC: $48,623

The company faced challenges due to an incident at Center 1 but has nearly completed reconstruction. SATO is purchasing new S12 Pro mining hardware and adjusted operations to manage high temperatures. The company's BTC Hodl value stands at $2,910,215, with a cash position of $610,816.

Positive

• Maintained stable Bitcoin production with 11 BTC earned in July
• Nearly completed reconstruction of affected section at Center 1
• Purchasing new-generation S12 Pro mining hardware
• Proactively adjusted mining operations to optimize efficiency during high temperatures
• Total assets (BTC Hodl + Cash) of $3,521,031

Negative

• Slight decrease in average operating hashrate from 0.53 EH/s in May to 0.46 EH/s in July
• Mining revenue decreased from $842,985 in May to $708,636 in July
• Increase in All-in Electricity Cost per BTC from $47,623 in June to $48,623 in July
• Reduction in BTC Hodl from 62 in May to 45 in July

Toronto, Ontario--(Newsfile Corp. - August 6, 2024) - SATO Technologies Corp. (TSXV: SATO) (OTCQB: CCPUF) (the "Company", or "SATO"), a Bitcoin computing organization, announces July 2024 Bitcoin Production and Efficiency, powered by renewable energy.

Bitcoin Computing Operational Update (unaudited)

In July, the mining network hashrate² increased by 5.92% month over month. The average operating hashrate at Center 1 was slightly down in June following an incident at the facility (see press release here). During the month, we initiated and nearly completed the reconstruction of the section where the incident occurred and began purchasing additional new-generation mining hardware (S12 Pro) for the 11 PHs we are currently operating. We proactively adjusted our mining hashrate to account for the high temperatures, ensuring optimal Bitcoin production while efficiently managing energy consumption. By leveraging both our proprietary in-house software and advanced external tools, we maintained peak operational efficiency, maximizing the output of our mining operations.

Key Metrics	July 2024	June 2024	May 2024
Total Installed Hashrate Capacity	0.56 EH/s	0.56 EH/s	0.56 EH/s
Average Operating Hashrate	0.46 EH/s	0.44 EH/s	0.53 EH/s
Total BTC earned1	11	11	13
BTC Produced per EH/s (Ratio)	24.4	25.1	24.3
Mining Revenue (US$)	$708,636	$727,492	$842,985
All-in Electricity Cost per BTC5 (US$)	$48,623	$47,623	$48,492
Avg. Monthly Network Hashrate2	615 EH/s	580 EH/s	600 EH/s
BTC Sold	21	18	19
BTC Hodl	45	55	62
BTC Hodl Value (US$)3,4 ''A''	$2,910,215	$3,418,539	$4,183,264
Cash Position (US$)4 ''B''	$610,816	$629,119	$650,976
Total A + B (US$)	$3,521,031	$4,047,658	$4,834,240

¹Represents the total BTC allocated to the Company from the mining pools in which it participates based on the hashrate contributed by the Company during the month. In accordance with the Company's loan obligations to Sygnum Bank AG ("Sygnum"), approximately 18.5% of the BTC allocated to the Company goes directly to a wallet with Sygnum to service the loan.
² Network Hashrate represents the 30 day average, calculated on a daily basis, of the hashrate contributed by all mining activity during the month, available at https://www.blockchain.com/explorer/charts/hash-rate.
³ Represents the number of BTC held multiplied by the closing BTC price on the last day of the month (BTC price as at July 31, 2024: $64,614; June 30th 2024: $62,668; May 31, 2024: $67,472; April 30, 2024: $60,622) Source : Google Finance.
⁴ Includes both unrestricted and restricted cash positions converted using the daily exchange rate, as of reporting date, available at https://www.bankofcanada.ca/rates/exchange/.
⁵ All-in Electricity Cost consists of the charge per kWh for electricity consumed (the Electricity Usage Cost) and a charge for the maximum kW reached at any point in time during the billing period, which can vary slightly from period to period depending on external factors such as temperature.

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 Mining, but may look to expand or add additional data centers for computing power for Bitcoin Mining, High Power Computing ("HPC"), Artificial Intelligence ("AI"), and L2's. The Company is listed on TSX.V: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 (450) 756-3636

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/219025

FAQ

What was SATO Technologies' (CCPUF) Bitcoin production in July 2024?

SATO Technologies (CCPUF) produced 11 Bitcoin in July 2024, maintaining the same level as in June 2024.

How much mining revenue did SATO Technologies (CCPUF) generate in July 2024?

SATO Technologies (CCPUF) generated $708,636 in mining revenue for July 2024.

What was the average operating hashrate for SATO Technologies (CCPUF) in July 2024?

The average operating hashrate for SATO Technologies (CCPUF) in July 2024 was 0.46 EH/s.

How many Bitcoin does SATO Technologies (CCPUF) hold as of July 31, 2024?

As of July 31, 2024, SATO Technologies (CCPUF) holds 45 Bitcoin (BTC Hodl).