Mr. Romain Nouzareth reports

SATO TECHNOLOGIES CORP. REFINANCES EXISTING LOAN FROM SYGNUM BANK AG TO FUND AI AND BITCOIN MINING EQUIPMENT INCREASING SELF-MINING CAPACITY BY 358%

Sato Technologies Corp. has refinanced its existing loan (see the company's press release of July 16, 2022), through its wholly owned subsidiary, Canada Computational Unlimited Inc. (CCU), with Sygnum Bank AG, allowing the company to finance the purchase of computing power for Bitcoin mining, AI (artificial intelligence) and HPC, and other general corporate purposes.

Key highlights of the agreement

• 6.79 million Swiss francs ($10,383,324 equivalent based on July 20, 2023, exchange rate, including outstanding amounts under the existing loan);
• 9.5-per-cent interest rate per annum;
• Repayable over a three-year term;
• Finances the purchase of currently hosted mining equipment increasing Sato's self-mining by 358 per cent up to approximately 0.53 Eh/s (exahash per second) (based on June, 2023, average) and achieves full self-mining at Center One.

Romain Nouzareth, chief executive officer and chairman of Sato, commented: "We are thrilled to extend and grow our partnership with Sygnum, the world's first digital asset bank, based in Zurich, Switzerland. This renewed hash-rate backed financing solution will greatly expand our efficient computing power infrastructure allowing us to significantly augment our computational abilities, attaining complete self-mining with our Bitcoin Center One, and initiating the launch of our AI and HPC infrastructures. I'm extremely proud of our team's hard work and meticulousness, accomplishing these milestones nearly a year prior to Bitcoin's halving event and concurrently with the substantial surge in demand for AI computing power, continuing our journey of growth."

Sygnum's head of credit and lending, Benedikt Koedel, comments: "Sygnum is pleased to renew and grow the hash-rate backed financing solution with Sato Technologies for green crypto assets. This solution demonstrates how carbon-neutral miners can expand their operations with Sygnum's active support to grow innovation and sustainability in the global crypto ecosystem."

About Sato Technologies Corp.

Sato, founded at bitcoin block 494673 in 2017, is a prominent innovator in the field of computing power commodities, specializing in bitcoin mining by efficiently operating a 20-megawatt data centre that generates nearly 0.6 exahash of mining power. The company prides itself on outstanding performance, financial stability and a top-tier team.

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