SATO NEWS

SATO Technologies Corp. Announces February 2024 Bitcoin Computing Operational Update

SATO Technologies Corp. Announces 

February 2024 Bitcoin Computing Operational Update


Toronto, ON - March 6th, 2024 - SATO Technologies Corp. (TSXV: SATO / OTCQB: CCPU.F) (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$)  ‘’A’’

$3,181,308

$2,054,852

$1,694,602

Cash Position (US$) ‘’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 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.                           


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”), 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.

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/.

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.

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