Mr. Romain Nouzareth reports

PUBLIC BITCOIN MINER SATO TECHNOLOGIES CORP. RELEASES MAY 2023 BITCOIN MINING OPERATIONAL UPDATE AND PROVIDES UPDATES FOR AI AND HPC DEPLOYMENTS

Sato Technologies Corp. has released its May, 2023, bitcoin (BTC) production and efficiency, and gives more details about its AI (artificial intelligence) plans.

Operational highlights (unaudited):

• 20 MW (megawatts) of fully operational, high-grade, approximately 100-per-cent-renewable-energy-based computing power generating consistent revenue;
• 0.54 EH/s (exahash/second) of bitcoin mining power running in the facility.

May, 2023, highlights (unaudited):

• 43.78 bitcoin mined in May, 2023 (monthly average, aggregate of self-mining and hosting);
• 5,638 average rigs operating throughout the month (self-mining and hosting);
• Weighted average bitcoin mined per one EH/s: 91.17 BTC (compared with 90.27 BTC in Q1 2023);
• Bitcoin mined on site per day: 1.41 BTC (daily average, aggregate of self-mining and hosting).

AI and high-performance computing ready

Sato's expertise in operating cost-effective and efficient data centres will play a critical role in delivering increased computing power to meet the burgeoning and rapidly expanding demands of the emerging AI sector.

The two Quebec-based centres are currently being prepared to increase the company's bitcoin mining capacity while deploying artificial intelligence and high-performance computing (HPC) capabilities.

"As ChatGPT, Bard, Co-Pilot, MidJourney and other groundbreaking innovations continue to emerge, the global demand for computing power will inevitably surge as their everyday applications are embraced. Our data centres, known for their efficiency and cost effectiveness, are poised to serve as the perfect solution to meet the growing AI demands. At Sato, we are actively directing our efforts towards expanding our AI infrastructure to accommodate this growth, enabling the deployment of high-performance computing power on a large scale. Simultaneously, we remain committed to further enhancing our bitcoin mining capabilities, ensuring that our growth in this area continues alongside the advancements in AI," says Romain Nouzareth, chief executive officer of Sato Technologies.

The company also announces that, further to its press release of Aug. 23, 2022, the company has issued 520,000 warrants to the landlord of Center Two. The company and the landlord amended their agreement to clarify that the warrants are being issued in connection with the interest-free loan by the landlord to the company of the security deposit the landlord has placed with Hydro-Quebec to secure the supply of electrical power dedicated to cryptographic use, in the amount of $135,000. The security deposit will be returned to the landlord when released by Hydro-Quebec, and the company will not be required to repay any principal amount. Each warrant is exercisable into one common share of Sato for a period of five years, at an exercise price of 25 cents.

About Sato Technologies Corp.

Sato, founded at bitcoin block 494673 in 2017, is a vertically integrated innovator in the field of computing power commodities, specializing in low-cost, high-performance computing power made for bitcoin mining by efficiently operating a 20 MW data centre that generates nearly 0.6 EH of mining power. The company prides itself on outstanding performance, financial stability and a top-tier team. Around 65 per cent of the company's securities (on a fully diluted basis) are owned by officers, directors and significant shareholders with a long-term vision.

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