Toronto, Ontario--(Newsfile Corp. - May 27, 2022) - Canada Computational Unlimited Corp. (TSXV: SATO) (OTCQB: CCPU.F) ("CCU" or "the Company") is pleased to announce its Q1 2022 financial results for March 31, 2022 ("2022"). All amounts in this news release are in Canadian dollars.
2022 Highlights
Total revenue of $1,709,266 in Q1 2022 which represents growth of 55% compared to Q1 2021
Revenue from hosting in Q1 2022 grew 2,928% compared to Q1 2021
Gross profit excluding depreciation was $610,204 in Q1 2022
Working capital increase of $603,417 at March 31, 2022, from a working capital of $3,254,131 at December 31, 2021
"These results are reflective of the Company's dedication to its continued growth and success in responsible mining. CCU's mining power at the Center One facility has increased by a 4x factor compared to Q1 2021 and will reach 8x that upon completion. We are on track to reaching full capacity and I am confident that we will continue to deliver shareholder value," commented Romain Nouzareth, President and Chief Executive Officer.
Notice
On Tuesday, May 31st at 2PM/EST the Company will be holding its Annual General Meeting which will be hosted virtually to cover recent financial results and company developments. To participate or view the meeting please log into:
www.virtualshareholdermeeting.com/SATO2022.
Q1 2022 Financial Overview
For the three months ended March 31, 2022, the Company recorded a net loss of $2,106,661 compared to a net profit of $887,883 for...
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