Mr. Romain Nouzareth reports

SATO TECHNOLOGIES CORP. ANNOUNCES JULY 2023 BITCOIN MINING OPERATIONAL UPDATE, ACHIEVING 100% SELF-MINING MILESTONE

Sato Technologies Corp. has discussed its July, 2023, bitcoin production and efficiency, and has provided an update regarding achieving 100-per-cent self-mining at Center One in Quebec, all powered by renewable energy.

July mining update (unaudited)

In July, extreme weather and storms affected the company's Mining Center One, leading to several power distribution outages. Additionally, the mining difficulty increased by 3.3 per cent from June to July. These factors combined to result in a 1.33-per-cent reduction in BTC produced per EH/s compared with the previous month.

Key highlights of the transition to 100-per-cent self-mining through miner acquisitions

• 4,419 new generation miners acquired and already plugged in on site;
• One of the lowest renewable energy cost at approximately 2.88 cents/kilowatt-hour (equivalent 3.83 cents). The company also pays monthly demand charge of $13.63 per kilowatt, on its contracted reserve. The total energy cost aggregates to 4.3 U.S. cents per kWh;
• Average asset book value per running PH (excluding cash on hand and digital assets hodl) of $32,850 (U.S.).

"We transitioned to a 100-per-cent self-mining model, boasting one of the industry's best book values for operating our mining power. This reflects our ability to acquire miners and build our infrastructure at highly competitive rates, further showcasing our efficiency, a key success factor in our industry," says Romain Nouzareth, chairman and chief executive officer.

Upcoming conferences

Sato currently plans to attend the following conferences during the second half of 2023:

• Aug. 15 to Aug. 16: Blockchain Futurist Conference, Toronto -- Canada;
• Aug. 31: Surfin' Bitcoin, Biarritz -- France;
• Sept. 7: Sygnum annual event, Zurich -- Switzerland;
• Sept. 21: Bitcoin Mining in Quebec by Canadian Blockchain Consortium, Montreal -- Canada;
• Oct. 12 to Oct. 13: BTC Amsterdam -- Netherland;
• Oct. 25 to Oct. 26: Canadian Blockchain Summit, Toronto -- Canada;
• Oct. 30 to Oct. 31: AIM Summit, Dubai -- UAE.

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-megawatt data centre that generates nearly 0.6 EHs (exahash per second) of mining power.

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