Welcome to our dedicated page for SATO Technologies news (Ticker: CCPUF), a resource for investors and traders seeking the latest updates and insights on SATO Technologies stock.
This page aggregates news and updates about SATO Technologies Corp. (OTCQB: CCPUF), a publicly listed provider of high-density computing power. SATO’s disclosures focus on Bitcoin computing operations, digital asset revenue, and its transition toward high power computing (HPC) and artificial intelligence (AI) infrastructure.
Readers can expect regular coverage of SATO’s unaudited and audited financial results, including quarterly and annual updates that discuss revenue from digital assets, gross profit or loss, net income or loss, and non-IFRS measures such as EBITDA, Adjusted EBITDA, and Compute Power Profit. These releases often explain how Bitcoin halving events, network difficulty, and Bitcoin price movements affect the company’s operations and financial performance.
News items also highlight operational metrics at Center One, SATO’s data center tailored to provide compute power for Bitcoin mining. The company reports installed and operating hashrate, Bitcoin earned, efficiency ratios, all-in electricity cost per Bitcoin, downtime, and curtailment hours, as well as steps taken to manage energy consumption and maintain uptime.
In addition, SATO’s news flow includes strategic updates on its AI transition, such as the development of AI Factory 1, the launch of its Qritical AI Inc. subsidiary, and plans to repurpose part of its hydroelectric-powered capacity for AI and next-generation compute workloads. Corporate governance and capital markets developments, including shareholder meeting results, stock option grants, and market-making arrangements, are also disclosed. Investors following CCPUF news can use this page to monitor how SATO’s Bitcoin computing operations and AI infrastructure initiatives evolve over time.
SATO Technologies reported Q3 2024 financial results, marking the first full quarter after Bitcoin's halving. Total revenue decreased 36% for Q3 but increased 5% for the nine months ended September 30, 2024. The company recorded a Q3 net loss of $1.7M, while maintaining net income of $1.3M for the nine-month period. Bitcoin mining production was 31 BTC in Q3 and 161 BTC for the nine months. The company's digital assets balance reached $2.96M, up from $2.24M at December 31, 2023. Average mining efficiency was 22.69 BTC per EH/s with an all-in electricity cost of US$51,869 per Bitcoin in Q3.
SATO Technologies Corp (TSXV: SATO, OTCQB: CCPUF) announced a strategic expansion from Bitcoin computing into AI and High-Performance Computing (HPC) infrastructure. The company plans to leverage its 20 MW hydro-electric facility in Quebec to create next-generation computing power factories. SATO received a partial tax credit reimbursement from the Canada Revenue Agency, which will help fund this initiative. The company aims to build an ecosystem of computing facilities in North America that combines blockchain with emerging technologies like AI, maintaining its focus on sustainability and operational excellence.
SATO Technologies Corp. (TSXV: SATO) (OTCQB: CCPUF) has reported its Q2 2024 financial results. Key highlights include:
- Total revenue grew 1% and 25% for the three and six months ended June 30, 2024, compared to 2023
- Revenue from digital assets grew 295% and 404% for the same periods
- Gross profit was $942,422 and $3,627,360 for Q2 and H1 2024
- Net loss of $924,526 in Q2, but net income of $2,986,443 for H1 2024
- 46 BTC earned in Q2 and 129 BTC in H1 2024
- Cash and digital assets of $5,592,365 as of June 30, 2024
- Positive EBITDA of $63,082 for Q2 and $4,979,493 for H1 2024
The company is adapting to the post-halving landscape, focusing on efficiency and sustainable growth.
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.
SATO Technologies Corp. (TSXV: SATO) (OTCQB: CCPU) has announced Club Mining, an iOS and Android app for solo Bitcoin miners and enthusiasts worldwide. The app offers free sats distribution from SATO's mining farm, fee-free or reduced-fee transactions via Lightning Network, community engagement features, and self-custodial solutions. SATO is collaborating with renowned BTC artist FAR and video artist SOLO for the app's visuals.
Key features include:
- Daily free sats distribution
- Lightning Network transactions
- Community chat and NOSTR profiles
- Integration with partners like Breez, Blockstream Greenlight, and Cashu
The app will be showcased at the Bitcoin Conference in Nashville, where SATO CEO Romain Nouzareth will speak on a panel with other Bitcoin miners and innovators.
SATO Technologies Corp. (TSXV: SATO, OTCQB: CCPUF) has released its June 2024 Bitcoin operational update. The mining network hashrate decreased by 3.44% month over month, with an average operating hashrate at Center 1 down slightly due to an incident at the facility.
Key metrics for June 2024 include a total installed hashrate capacity of 0.56 EH/s, average operating hashrate of 0.44 EH/s, and total BTC earned at 111. The company produced 25.1 BTC per EH/s and recorded mining revenue of $727,492. The all-in electricity cost per BTC was $47,623.
BTC sold was 18, with a BTC hodl value of $3,418,539 and a cash position of $629,119, totaling $4,047,658 in cash and BTC hodl value. Approximately 18.5% of allocated BTC goes to service a loan with Sygnum Bank AG.
SATO Technologies Corp. (TSXV: SATO, OTCQB: CCPUF) announced that all resolutions at its 2024 Annual General and Special Meeting on June 14, 2024, were approved by shareholders.
The re-elected board members are Romain Nouzareth, Frank Di Tomaso, Dominique Payette, Randal Milch, Andrew Bond, and Mathieu Nouzareth.
Raymond Chabot Grant Thornton LLP was re-appointed as the independent auditor for the upcoming year. Additionally, the Company's Stock Option Plan was re-approved.
Detailed voting results showed a high approval rate for all resolutions, with percentages close to or at 100%, indicating strong shareholder support.
More information can be accessed in SATO's Management Information Circular available on SEDAR+.
SATO Technologies Corp. (CCPUF) announced its Bitcoin computing operational update for May 2024. The total hashrate capacity remained stable at 0.56 EH/s, with an average operating hashrate of 0.53 EH/s. The company produced 113 BTC, a decline from 232 BTC in April. Mining revenue dropped by 45.6% to $842,985.
The all-in electricity cost per BTC surged to $48,492, nearly doubling from April's $25,149. SATO's cash position stood at $650,976, and the BTC HODL value was $4,183,264. The company's network hashrate decreased by 3.8% month-over-month. CEO Romain Nouzareth highlighted the company's preparation for the Bitcoin halving epoch and its continued focus on efficiency and growth.
SATO Technologies Corp. (TSXV: SATO, OTCQB: CCPUF) announced a fire incident at their Center One data center building on June 1, 2024. The fire occurred in the oldest part of the building, affecting around 40 PHs of computing equipment out of 560 PHs. The fire suppression system caused additional water damage. No injuries were reported. The company is assessing the damage and working with insurance companies for recovery. Contingency plans are in place to mitigate service disruptions, though no specific timeline for recovery is available. SATO is committed to operational excellence and will provide regular updates.
SATO Technologies Corp. (TSXV: SATO, OTCQB: CCPUF) announced its Q1 2024 financial results, showing significant growth. The company reported revenue of C$5.91 million, a 51% increase compared to Q1 2023. Operating cash flows were C$415,983, and EBITDA surged by 333% to C$4.92 million. Net profit reached C$3.91 million, a dramatic turnaround from a net loss of C$510,745 the previous year. As of March 31, 2024, the company held C$7.30 million in cash and digital assets. Operationally, SATO earned 83 Bitcoins at an average electricity cost of US$20,836 per Bitcoin. Additionally, 6 MW of power equipment is ready for future growth, and the mining fleet was enhanced by 17 petahashes in April 2024. CEO Romain Nouzareth highlighted the company's mining efficiency and cost management. A live conference call detailing these results is scheduled for May 22, 2024.
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