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Canada Computational Unlimited (SATO) Signs LOI to Acquire New Miners for Its Center One Facility
Toronto, Ontario--(Newsfile Corp. - December 28, 2021) - Canada Computational Unlimited Corp. ...
About this update from Sato Technologies Corp
[{"type":"text","content":"Canada Computational Unlimited (SATO) Signs LOI to Acquire New Miners for Its Center One FacilityToronto, Ontario--(Newsfile Corp. - December 28, 2021) - Canada Computational Unlimited Corp. (TSXV: SATO) (the \"Company\",\"CCU.ai\" or \"SATO\") is pleased to announce the signing of a non-binding letter of intent with Foundry Digital LLC for a transaction that would make it possible for the Company to purchase 700 miners. This addition of an equivalent of 65 PH/s at Center One shows our progress and commitment to reach 600 PHs.Key HighlightsAddition of mining equipment for 65 PH/s Center One based on the 20MW renewable energy contract will allow CCU.ai to reach an equivalent of 600 PH/sThe Q3 average to mine 1 Bitcoin in electricity power is USD$ 7,636 based on Q3 Financials*Possibility to extend the contract with Foundry to get more minersRomain Nouzareth, CEO and Chairman of CCU.ai, commented, \"This increment is the result of a collaborative effort from both parties and is the first of many that we have planned to reach our capacity of 600 PHs for Center One. This further proves that we are on a path to reaching our targets.\" The Company and Foundry will seek to conclude a definitive agreement prior to the end of January 2022.On behalf of the board, Romain Nouzareth,CCU.ai CEO and ChairmanAbout CCU.aiCCU.ai 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.Founded in 2017, CCU.ai is led by technology entrepreneurs, electricity and ventilation experts, network specialists, 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.*The average cost of electrical power required to mine 1 Bitcoin is a non-IFRS financial measure. We calculate that by first isolating the total cost of electricity for the three months ended September 30,2021 included in the Site Operating Costs on the Company's Condensed Interim Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) for the three months en...