Also announcing Bitcoin Mining Center Two in Québec with 100% renewable energy.
Toronto, Ontario--(Newsfile Corp. - August 24, 2022) - SATO Technologies Corp. (TSXV: SATO) (OTCQB: CCPUF) (the "Company", or "SATO", formerly known as Canada Computational Unlimited Corp.) is pleased to announce that it has filed its Q2 2022 financial results for June 30, 2022 ("2022"). All amounts in this news release are in Canadian dollars.
SATO is also pleased to announce the start of Center Two, with the signing of a lease agreement for 1,800 square feet of additional space starting with 0.5 MW available for crypto mining and up to 2 MW+ of renewable energy available for future expansion, which will allow the Company to expand its overall Bitcoin mining capacity.
Q2 - 2022 Highlights
Total revenue of $2,021,642 in Q2 2022 which represents growth of 18% compared to Q1 2022 and 77% when
Steady increase in revenues despite the fact that the BTC price went from $US 35,041 to $US 19,785 respectively at June 30, 2021 and 2022.
Revenue from hosting in Q2 2022 grew 1,154% compared to Q2 2021
Gross profit excluding depreciation was $864,447 (43%) in Q2 2022
Fair value of Digital assets held at June 30, 2022 was $2,035,385 compared to $1,056,570 at June 30, 2021
Center Two Highlights
1,800 sq ft, at $2.78 per square foot, with the potential for increasing the square footage;
Immediate access to 496kW for Crypto Mining pre-moratorium (HQ A/P 2019-01) and 1.5 MW for traditional computing;
100%...
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