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SATO Technologies Corp. Announces July 2024 Bitcoin Computing Operational Update
Toronto, Ontario--(Newsfile Corp. - August 6, 2024) - SATO Technologies Corp. (TSXV: SATO) (OTCQB...
About this update from Sato Technologies Corp
[{"type":"text","content":"SATO Technologies Corp. Announces July 2024 Bitcoin Computing Operational UpdateToronto, 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 MetricsJuly 2024June 2024May 2024Total Installed Hashrate Capacity0.56 EH/s0.56 EH/s0.56 EH/sAverage Operating Hashrate0.46 EH/s0.44 EH/s0.53 EH/sTotal BTC earned1111113BTC Produced per EH/s (Ratio)24.425.124.3Mining Revenue (US$)$708,636$727,492$842,985All-in Electricity Cost per BTC5 (US$)$48,623$47,623$48,492Avg. Monthly Network Hashrate2615 EH/s580 EH/s600 EH/sBTC Sold211819BTC Hodl455562BTC Hodl Value (US$)3,4 ''A''$2,910,215$3,418,539$4,183,264Cash Position (US$)4 ''B''$610,816$629,119$650,976Total A + B (US$)$3,521,031$4,047,658$4,834,2401Represents 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 las...