Toronto, Ontario – December 1, 2025 – SATO Technologies Corp. (OTCQB: CCPUF), a provider of high-density compute infrastructure, today announced its unaudited financial results for the three and nine months ended September 30, 2025.
Full details are available in the Company’s Financial Statements and Management’s Discussion and Analysis (MD&A), filed on SEDAR+ and at www.bysato.com. All amounts are in Canadian dollars unless otherwise stated.
Q3 2025 Highlights
Despite the impact of the April 2024 Bitcoin Halving and record network difficulty, SATO delivered quarter-over-quarter improvements in revenue, profitability, and operational stability.
Key Results:
- Revenue: $3.34 million, up 28% from Q3 2024
- Bitcoin Mined: 21 BTC, compared with 31 BTC in Q3 2024 (a 32% decline driven by the halving and all-time-high network difficulty)
- Gross Profit: $381,566, vs. a gross loss of $(544,387) in Q3 2024
- Net Loss: $(284,424), improved from $(1,717,056) in Q3 2024
- Compute Power Profit: $921,602 (Q3 2024: $199,656)
- Adjusted EBITDA: $333,505 (Q3 2024: $(353,728))
- Digital Assets: $1.46 million, including 9 BTC at quarter-end
- Cash Balance: $640,621
Operationally, Center One achieved less than 1% downtime during the quarter, supported by electrical upgrades and ongoing efficiency gains driven by the Company’s DataMan platform.
Liquidity Measures
To preserve cash in a post-halving environment and maintain flexibility while advancing the AI transition, management is implementing several measures:
- A lender-supported three-month grace period (beginning November 2025) deferring principal and interest payments on the Company’s long-term loan
- Executive compensation deferral and selective contractor reductions
- Potential sale of non-core equipment and continued cost optimization
- Temporary down-clocking of approximately 40% of the company mining fleet to reduce power consumption, improving daily profitability despite a lower hashrate
These actions extend SATO’s runway as the Company evaluates financing options and strategic alternatives.
Strategic Initiatives and Advancing the AI Transition
SATO continues to execute a multi-phase plan to repurpose a portion of Center One into high-density AI compute:
- Initial GPU Deployment: A staged rollout beginning with ~200 GPUs, scalable to 2,000+ (pending funding)
- AI Factory 1: Engineering, liquid-cooling design, and power planning underway
- Financing: The Company has received preliminary non-binding expressions of interest for debt and equity financing to fund the expansion, subject to due diligence and definitive agreements
- DAT Strategy: Continued development of a combined Bitcoin and AI-linked digital asset treasury to complement future contracted AI revenues
CEO Comment
“Q3 reflects the reality of the post-halving environment: unprecedented difficulty and significant Bitcoin volatility. We anticipated this. We reduced costs, worked proactively with our lender to align payment schedules with our new strategy, and accelerated our AI plan so we can pivot toward contracted, recurring revenue.”
Romain Nouzareth, Chairman & CEO
“With nearly a decade of Bitcoin experience, I know discipline and adaptability matter most. Our actions extend our runway and position SATO to evolve from a Bitcoin miner into a high-density AI infrastructure provider supported by our Digital Asset Treasury strategy.”
Additional Resources
SATO Technologies’ management has prepared a presentation of these results, which will be available on December 2, 2025, on our website and on our YouTube channel.
Full financials and MD&A are available on SEDAR+.
About SATO
SATO, founded in 2017, is a publicly listed company providing efficient computing power. The Company currently operates one data center tailored to provide computing power for Bitcoin Mining, but may look to expand or add additional data centers for computing power for Bitcoin Mining, High Power Computing (HPC), and Artificial Intelligence (AI). The Company is listed on TSXV: SATO & OTCQB: CCPUF.
Learn more: www.bysato.com
Contact Information
Investor Relations:
Email: invest@bysato.com
Phone: +1 (347) 280 3663
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Financial Tables
Adjusted EBITDA Reconciliation
| Three months ended September 30 | 2025 | 2024 | Nine months ended September 30 | 2025 | 2024 |
|---|---|---|---|---|---|
| Net income (loss) | $(284,424) | $(1,717,056) | $(1,936,320) | $1,269,387 | |
| Finance expense | $163,286 | $247,097 | $557,790 | $787,902 | |
| Deferred income taxes | $0 | $0 | $0 | $0 | |
| Depreciation | $545,316 | $749,323 | $1,635,028 | $2,201,568 | |
| EBITDA | $424,178 | $(720,636) | $256,498 | $4,258,857 | |
| Share based compensation | $32,763 | $48,417 | $232,914 | $156,250 | |
| Loss (gain) on use of digital assets | $(185,979) | $111,284 | $(532,260) | $(231,635) | |
| Unrealized foreign exchange (gain) loss | $62,543 | $304,489 | $431,852 | $72,650 | |
| Unrealized gain on revaluation of digital assets | $0 | $(97,282) | $0 | $(1,194,769) | |
| Adjusted EBITDA | $333,505 | $(353,728) | $389,004 | $3,061,353 |
Compute Power Profit Reconciliation
| Three months ended September 30 | 2025 | 2024 | Nine months ended September 30 | 2025 | 2024 |
|---|---|---|---|---|---|
| Gross Profit | $381,566 | $(544,387) | $569,584 | $3,082,973 | |
| Other revenue | $(5,280) | $(5,280) | $(15,840) | $(38,331) | |
| Depreciation | $545,316 | $749,323 | $1,635,028 | $2,201,568 | |
| Compute Power Profit | $921,602 | $199,656 | $2,188,772 | $5,246,210 |
Forward-Looking Statements
This news release contains forward-looking statements. Please refer to the full press release for complete cautionary language regarding forward-looking information, risks, and uncertainties.
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