SATO Technologies Corp. Increases Self Bitcoin Mining Power by 25.4% To Start 2023
Toronto, Ontario--(Newsfile Corp. - January 24, 2023) - SATO Technologies Corp. (TSXV: SATO) (OTCQB: CCPUF) (the "Company", or "SATO"), a publicly listed Bitcoin mining company with 100% renewable energy, is announcing that following the exercise of an option from the Host-Buy contract, it has acquired 325 new generation Bitcoin miners, resulting in a 25.4% increase in self-mining power to start 2023, as part of the Company's strategy to reach 100% self-mining as quickly as possible. This represents the first step to utilizing the full Center One capacity (around 0.6 EHs of mining power) that went fully operational in August of 2022.
- Around 30 PH/s were added with 325 new-generation miners, which represents a growth of 25.4% when compared to our current self-mining hashrate.
- Miners are already in the facility and mining for SATO.
- Financed via operating cashflow.
- With our production of 124.67 BTC equivalent per EH/s in 2022, using the yearly weighted average, SATO ranks amongst the most efficient publicly listed miners in the world.
"Now is the ideal time to invest in Bitcoin mining hardware. By utilizing hydro-power, a highly sustainable energy source, and assembling a team dedicated to maximizing efficiency, we are well-positioned to achieve our goal of self-mining at a competitive cost as we continue to create long-term value for SATO shareholders," says Romain Nouzareth, CEO of SATO.
On behalf of the board,
SATO CEO & Chairman
Founded at block 494673 in 2017, SATO is a technology company with Responsible Bitcoin Mining at its core. It operates a state-of-the-art, carbon-neutral bitcoin mining center with a contract of 20 MW of stable, eco-friendly energy. The company's high-density calculation centers are built for high-grade cryptocurrency mining, AI data processing, and fintech infrastructure.
SATO is led by technology entrepreneurs, finance, electricity and ventilation experts, network specialists, mathematicians, and Canadian industrialists. Since its inception, the company has pursued a vision of environmental stewardship throughout the mining process. The excess supply of renewable energy in the province of Québec has made this endeavor feasible and a great base for growth.
For additional information, please contact:
SATO on Twitter: https://twitter.com/SATO_BTC
SATO on LinkedIn: https://www.linkedin.com/company/satocorp
SATO Corporate site: https://www.bysato.com
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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. Wherever possible, words such as "may", "will", "should", "could", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict" or "potential" or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. 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.
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