SATO Technologies Corp. Announces September 2023 Bitcoin Mining Operational Update
Toronto, Ontario–(Newsfile Corp. – October 2, 2023) – SATO Technologies Corp. (TSXV: SATO) (OTCQB: CCPUF) (the “Company”, or “SATO”), one of the most performant innovation driven digital asset mining pioneers, announces September 2023 Bitcoin Production and Efficiency, all powered by renewable energy.
September Mining Update (unaudited)
In September, the mining network hashrate increased by 5.44% month over month.
| Key Metrics | September 2023 | August 2023 | July 2023 |
| Total Hashrate capacity installed | 0.54 EH/s | 0.54 EH/s | 0.54 EH/s |
| Average operating Hashrate | 0.524 EH/s | 0.526 EH/s | 0.495 EH/s |
| Total BTC Mined on site | 36 | 39 | 37 |
| Mining revenue (US$) | $954,016 | $1,078,161 | $1,099,803 |
| Avg. monthly Network Hashrate | 407 EH/s | 386 EH/s | 378 EH/s |
| BTC Sold | 36 | 46 | 6 |
| BTC HODL | 36 | 36 | 43 |
| Cash Position (US$)1 | $1,737,979 | $1,707,703 | $1,574,355 |
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 | Sept |
| Ratio | 108.7 | 90.3 | 90.7 | 80.2 | 91.2 | 75.3 | 74.7 | 74.1 | 68.7 |
| Electrical price per BTC (USD) | ||||||||
| Month | Jan | Feb | March | April | May | June | July | Aug |
| kWh cost | $6,484 | $6,997 | $8,105 | $9,542 | $8,662 | $9,488 | $10,202 | $10,100 |
| All-in electrical cost | $9,971 | $11,089 | $12,207 | $14,550 | $13,211 | $14,455 | $15,780 | $15,311 |
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 ecosystem. Listed on (TSXV: SATO) (OTCQB: CCPUF) 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.
1 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/.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/182614