SATO Technologies Corp. Announces February 2024 Bitcoin Computing Operational Update
Toronto, Ontario--(Newsfile Corp. - March 6, 2024) - SATO Technologies Corp. (TSXV: SATO) (OTCQB: CCPUF) (the "Company", or "SATO"), a Bitcoin computing organization, announces February 2024 Bitcoin Production and Efficiency, powered by renewable energy.
February Bitcoin Computing Operational Update (unaudited)
In February, the mining network hashrate2 increased by 8.8% month over month. As part of our load shedding agreement with Hydro Joliette, we sustained 10.65 hours of load shedding which represents around 1.53% of our monthly operating hours.
Key Metrics | February 2024 | January 2024 | December 2023 |
Total Hashrate capacity installed at the end of the period | 0.54 EH/s | 0.54 EH/s | 0.54 EH/s |
Average operating Hashrate | 0.52 EH/s | 0.51 EH/s | 0.53 EH/s |
Total BTC earned 1 | 26 | 31 | 38 |
Mining revenue (US$) | $1,280,174 | $1,345,475 | $1,619,186 |
Avg. monthly Network Hashrate 2 | 569 EH/s | 523 EH/s | 505 EH/s |
BTC Sold | 23 | 22 | 41 |
BTC Hodl | 52 | 49 | 40 |
BTC Hodl Value (US$) 3 ''A'' | $3,181,308 | $2,054,852 | $1,694,602 |
Cash Position (US$) 4 ''B'' | $1,186,895 | $1,239,822 | $1,661,022 |
Total A + B (US$) | $4,368,203 | $3,294,674 | $3,355,624 |
BTC produced per EH/s | |||||||||||||
Month | Feb | March | April | May | June | July | Aug | Sept | Oct | Nov | Dec | Jan | Feb |
Ratio | 90.3 | 90.7 | 80.2 | 91.2 | 75.3 | 74.7 | 74.1 | 68.7 | 67.5 | 66.7 | 71.8 | 60.4 | 49.3 |
All-in Electricity Cost5 per BTC (US$) | ||||||||||||
Month | Feb | March | April | May | June | July | Aug | Sept | Oct | Nov | Dec | Jan |
kWh cost | $11,089 | $12,207 | $14,550 | $13,211 | $14,455 | $15,780 | $15,311 | $16,632 | $16,412 | $15,924 | $15,308 | 18,486 |
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 a data 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 (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. In accordance with the Company’s loan obligations to Sygnum Bank AG (“Sygnum”), approximately18.5% of the BTC allocated to the Company goes directly to a wallet with Sygnum to service the loan.
2 Network Hashrate represents the30 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 February 29, 2024: $61,179) 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/200661
