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Toronto, Ontario--(Newsfile Corp. - August 6, 2024) - SATO Technologies Corp. (TSXV: SATO) (OTCQB: CCPUF) (the "Company", or "SATO"), a Bitcoin computing organization, announces July 2024 Bitcoin Production and Efficiency, powered by renewable energy.
Bitcoin Computing Operational Update (unaudited)
In July, the mining network hashrate2 increased by 5.92% month over month. The average operating hashrate at Center 1 was slightly down in June following an incident at the facility (see press release here). During the month, we initiated and nearly completed the reconstruction of the section where the incident occurred and began purchasing additional new-generation mining hardware (S12 Pro) for the 11 PHs we are currently operating. We proactively adjusted our mining hashrate to account for the high temperatures, ensuring optimal Bitcoin production while efficiently managing energy consumption. By leveraging both our proprietary in-house software and advanced external tools, we maintained peak operational efficiency, maximizing the output of our mining operations.
| Key Metrics | July 2024 | June 2024 | May 2024 |
| Total Installed Hashrate Capacity | 0.56 EH/s | 0.56 EH/s | 0.56 EH/s |
| Average Operating Hashrate | 0.46 EH/s | 0.44 EH/s | 0.53 EH/s |
| Total BTC earned1 | 11 | 11 | 13 |
| BTC Produced per EH/s (Ratio) | 24.4 | 25.1 | 24.3 |
| Mining Revenue (US$) | $708,636 | $727,492 | $842,985 |
| All-in Electricity Cost per BTC5 (US$) | $48,623 | $47,623 | $48,492 |
| Avg. Monthly Network Hashrate2 | 615 EH/s | 580 EH/s | 600 EH/s |
| BTC Sold | 21 | 18 | 19 |
| BTC Hodl | 45 | 55 | 62 |
| BTC Hodl Value (US$)3,4 ''A'' | $2,910,215 | $3,418,539 | $4,183,264 |
| Cash Position (US$)4 ''B'' | $610,816 | $629,119 | $650,976 |
| Total A + B (US$) | $3,521,031 | $4,047,658 | $4,834,240 |
1Represents 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.
3 Represents the number of BTC held multiplied by the closing BTC price on the last day of the month (BTC price as at July 31, 2024: $64,614; June 30th 2024: $62,668; May 31, 2024: $67,472; April 30, 2024: $60,622) 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/.
5 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.