Canada Computational Limitless (SATO) Indicators LOI to Purchase New Miners for Its Middle One Facility

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Toronto, Ontario–(Newsfile Corp. – December 28, 2021) – Canada Computational Limitless Corp. (TSXV: SATO) (the “Firm”,”CCU.ai” or “SATO”) is happy to announce the signing of a non-binding letter of intent with Foundry Digital LLC for a transaction that may make it attainable for the Firm to buy 700 miners. This addition of an equal of 65 PH/s at Middle One exhibits our progress and dedication to achieve 600 PHs.

Key Highlights

  • Addition of mining tools for 65 PH/s
  • Middle One primarily based on the 20MW renewable vitality contract will permit CCU.ai to achieve an equal of 600 PH/s
  • The Q3 common to mine 1 Bitcoin in electrical energy energy is USD$ 7,636 primarily based on Q3 Financials*
  • Risk to increase the contract with Foundry to get extra miners

Romain Nouzareth, CEO and Chairman of CCU.ai, commented,“This increment is the results of a collaborative effort from each events and is the primary of many who we’ve deliberate to achieve our capability of 600 PHs for Middle One. This additional proves that we’re on a path to reaching our targets.”

The Firm and Foundry will search to conclude a definitive settlement previous to the top of January 2022.

On behalf of the board,

Romain Nouzareth,
CCU.ai CEO and Chairman

About CCU.ai
CCU.ai operates a state-of-the-art, carbon-neutral bitcoin mining heart with a contract of 20 MW of steady, eco-friendly vitality. The corporate’s high-density calculation facilities are constructed for high-grade cryptocurrency mining, AI information processing, and fintech infrastructure.

Based in 2017, CCU.ai is led by know-how entrepreneurs, electrical energy and air flow consultants, community specialists, and Canadian industrialists. Since its inception, the corporate has pursued a imaginative and prescient of environmental stewardship all through the mining course of. The surplus provide of renewable vitality within the province of Qubec has made this endeavor possible and a terrific base for progress.

*The typical price {of electrical} energy required to mine 1 Bitcoin is a non-IFRS monetary measure. We calculate that by first isolating the overall price of electrical energy for the three months ended September 30,2021 included within the Website Working Prices on the Firm’s Condensed Interim Consolidated Statements of Revenue (Loss) and Complete Revenue (Loss) for the three months ended September 30, 2021. From the overall electrical energy prices, we isolate the electrical energy prices associated to the operation of the Firm’s Bitcoin Miners (excluding hosted miners, Ethereum miners and different non-mining makes use of of electrical energy). We then convert that to US$ utilizing the Financial institution of Canada alternate charge as of September 30, 2021, and divide that by the 20 Bitcoin mined within the three months ended September 30, 2021, as proven in Notice 7 to the Firm’s Condensed Interim Consolidated Monetary Statements. The Firm’s calculation of the typical price {of electrical} energy required to mine 1 Bitcoin is probably not similar to related measures introduced by different issuers. The Firm believes that this measure, along with info ready in accordance with IFRS, supplies buyers with helpful info to help of their analysis of the Firm’s efficiency and skill to generate money move from its operations. Accordingly, this measure is meant to offer extra info and shouldn’t be thought-about in isolation or as an alternative to measures of efficiency ready in accordance with IFRS.

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.

For extra info, please contact:
Caroline Klukowski,
Tel: 604.260.5490
ir@ccu.ai

Canada Computational Limitless Corp. (“CCU.ai”)

INVESTORS can learn extra about CCU high-grade, carbon-free bitcoin mining and ESG imaginative and prescient at: www.ccu.ai/investors

To view the supply model of this press launch, please go to https://www.newsfilecorp.com/release/108562



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