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SATO Technologies Corp (CCPUF) delivers energy-efficient computing solutions through its Bitcoin mining operations and renewable-powered data centers. This dedicated news hub provides stakeholders with essential updates on financial performance, technological innovations, and strategic growth initiatives.
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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.
SATO Technologies Corp. reported an increase in mining network hashrate by 4.4% in April 2024, following the halving event resulting in a block reward reduction. The company strategically acquired new rigs to enhance operational hashrate by 17 PH/s, aiming to reach 1 EH/s capacity. SATO plans to fund future rig acquisitions using operating cash flow and other financial instruments, with a focus on maximizing shareholder value.
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