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SATO Technologies Corp. Announces December 2023 Bitcoin Mining Operational Update
January 03, 2024 11:03 AM EST | Source: SATO Technologies Corp.
Toronto, Ontario--(Newsfile Corp. - January 3, 2024) - SATO Technologies Corp. (TSXV: SATO) (OTCQB: CCPUF) (the "Company", or "SATO"), a digital asset mining organization, announces December 2023 Bitcoin Production and Efficiency, all powered by renewable energy.
December Mining Update (unaudited)
In December, the mining network hashrate1 increased by 6.54% month over month.
| Key Metrics | December 2023 | November 2023 | October 2023 |
| Total Hashrate capacity installed | 0.54 EH/s | 0.54 EH/s | 0.54 EH/s |
| Average operating Hashrate | 0.529 EH/s | 0.516 EH/s | 0.533 EH/s |
| Total BTC Mined on site | 38 | 35 | 36 |
| Mining revenue (US$) | $1,619,186 | $1,261,016 | $1,073,306 |
| Avg. monthly Network Hashrate 1 | 505 EH/S | 474 EH/S | 442 EH/s |
| BTC Sold | 41 | 30 | 33 |
| BTC HODL | 40 | 43 | 38 |
| BTC Hodl Value (US$)2 | $1,704,469 | $1,555,331 | $1,117,963 |
| Cash Position (US$)3 | $1,661,022 | $1,282,301 | $1,314,895 |
| BTC produced per Eh/s | ||||||||||||
| Month | Jan | Feb | March | April | May | June | July | Aug | Sept | Oct | Nov | Dec |
| Ratio | 108.7 | 90.3 | 90.7 | 80.2 | 91.2 | 75.3 | 74.7 | 74.1 | 68.7 | 67.5 | 66.7 | 71.8 |
| Electrical price per BTC (US$) | |||||||||||
| Month | Jan | Feb | March | April | May | June | July | Aug | Sept | Oct | Nov |
| kWh cost | $6,484 | $6,997 | $8,105 | $9,542 | $8,662 | $9,488 | $10,202 | $10,100 | $10,577 | $10,824 | $10,433 |
| All-in electric cost4 | $9,971 | $11,089 | $12,207 | $14,550 | $13,211 | $14,455 | $15,780 | $15,311 | $16,632 | $16,412 | $15,924 |
On behalf of the board,
Romain Nouzareth,
SATO CEO and Chairman
About SATO
SATO, founded in 2017, is a publicly listed company positioned for deploying infrastructures designed to provide efficient compute power tailored for the digital world for Bitcoin Mining, High Power Computing ("HPC"), Artificial Intelligence ("AI"), and L2's. The company is listed on (TSXV: SATO) & (OTCQB: CCPUF). Around 65% of securities (on a fully diluted basis) owned by Officers, Directors, Insiders and Shareholders above 7% with long term vision. To learn more about SATO's distinct vision, ambitious goals and meet the team, visit www.bysato.com.
For additional information, please contact:
Romain Nouzareth
invest@bysato.com
Phone: +1 (450) 756-3636
Full Disclaimer https://corp.bysato.com/documents/disclaimer.html
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. https://www.blockchain.com/explorer/charts/hash-rate
1 Mining network hashrate represents the 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
2 Average BTC price of the last day of the month (BTC price as at December 31, 2023 : $42,548)
3 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/.
4 All-in electricity cost consists of a charge per kWh for electricity consumed 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/193056