SATO Technologies Corp. Announces January 2024 Bitcoin Computing Operational Update and Some Full Year 2023 Unaudited Highlights
Toronto, Ontario–(Newsfile Corp. – February 5, 2024) – SATO Technologies Corp. (TSXV: SATO) (OTCQB: CCPUF) (the “Company”, or “SATO”), a Bitcoin computing organization, announces January 2024 Bitcoin Production and Efficiency, powered by renewable energy.
January Mining Update and Full Year comparatives (unaudited)
In January, the mining network hashrate1 increased by 3.56% month over month. As part of our load shedding agreement with Hydro Joliette, we sustained 33 hours of load shedding which represents around 4.44% of our monthly operating hours.
| Key Metrics | January 2024 | December 2023 | FY 2023 | FY 2022 |
| Total Hashrate capacity installed at the end of the period | 0.54 EH/s | 0.54 EH/s | 0.54 EH/s | 0.54 EH/s |
| Average operating Hashrate | 0.51 EH/s | 0.529 EH/s | N/A | N/A |
| Total BTC earned1 | 31 | 38 | 260 | 95 |
| Mining revenue (US$) | $1,345,475 | $1,619,186 | $8,198,296 | $2,059,279 |
| Total revenue ($US) | $1,345,475 | $1,619,186 | $13,277,375 | $7,842,013 |
| Avg. monthly Network Hashrate 2 | 523 EH/S | 505 EH/S | N/A | N/A |
| BTC Sold | 22 | 41 | 257 | 102 |
| BTC Hodl | 49 | 40 | 40 | 44 |
| BTC Hodl Value (US$)3 | $2,054,852 | $1,694,602 | $1,694,602 | $728,644 |
| Cash Position (US$)4 | $1,239,822 | $1,661,022 | $1,661,022 | $265,348 |
| BTC produced per EH/s | ||||||||||||
| Month | Feb | March | April | May | June | July | Aug | Sept | Oct | Nov | Dec | Jan |
| Ratio | 90.3 | 90.7 | 80.2 | 91.2 | 75.3 | 74.7 | 74.1 | 68.7 | 67.5 | 66.7 | 71.8 | 60.4 |
| Electricity Usage Cost per BTC (US$) | ||||||||||||
| Month | Jan | Feb | March | April | May | June | July | Aug | Sept | Oct | Nov | Dec |
| kWh cost | $6,484 | $6,997 | $8,105 | $9,542 | $8,662 | $9,488 | $10,202 | $10,100 | $10,577 | $10,824 | $10,433 | $10,165 |
| All-in Electricity Cost5 per BTC (US$) | ||||||||||||
| All-in electric cost5 | $9,971 | $11,089 | $12,207 | $14,550 | $13,211 | $14,455 | $15,780 | $15,311 | $16,632 | $16,412 | $15,924 | $15,308 |
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 centers for High Power Computing (“HPC”), Artificial Intelligence (“AI”), and L2’s. The Company is listed on (TSXV: SATO) and (OTCQB: CCPUF). 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.
1 Represents 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.
2 Network Hashrate represents the 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 January 31, 2024: $42,548) 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/196837