SATO Technologies Corp.
SATO🇨🇦Reserve
SATO Technologies is a Canadian Bitcoin mining and digital infrastructure company operating a 20 MW data center in Quebec powered by 100% renewable hydroelectricity. The company mines BTC and retains it as a treasury asset, occasionally selling portions to manage operational cash flow.
BTC Holdings
7 BTC
Insufficient history
Stock PriceUpdated 18h ago
0.12 CAD▼ 11.54%
180d
Total financing
360.41K CAD
180d
mNAV
18.04x▼ 11.43%
180d
Leverage
33.3%
180d
BTC Risk
1.32%3.0x
Sats/Share
6
180d
Mkt capFD
12.80M CAD
SharesFD
111.34M
Fiat reserve
123.68K CAD
Total reserve
833.53K CAD
Dilution
23.6%
Coverage
2.1 yr
BTC mix
0%
Analytics
BTC Coverage
FinancialsUnverified
IFRSAnnualAs of 2025-12-31
Balance Sheet
Total AssetsC$10.3M▼42.6%
Total LiabilitiesC$6.1M▼36.6%
Stockholders' EquityC$4.2M▼49.5%
Cash & EquivalentsC$123.7K▼81.3%
Total DebtC$5.3M▼39.0%
Digital AssetsC$829.8K▼81.8%
Income Statement
RevenueC$11.7M▼27.5%
Operating IncomeC$-2.3M▼200.5%
Net IncomeC$-4.4M▼473.8%
Interest ExpenseC$694K▼32.6%
Cash Flow
Operating Cash FlowC$-12.1M▲13.6%
Instruments
| Instrument | Term | Coupon | Principal | Outstanding | Conv. price | BTC Rating |
|---|---|---|---|---|---|---|
| SATO-Mar29 | Mar '26 – Mar '29 | 15% | 340.00K CAD | 340.00K CAD | 0.09 CAD | 3.0x |
| Total | 340.00K CAD | |||||
Recent Changes
Wed, Apr 29, 2026
Shares Outstanding
73.3M→90.1M+16.8M(+22.9%)
After C$1.375M private placement (16,773,005 new shares across two tranches)
FY2025 Management's Discussion and AnalysisMon, Apr 27, 2026
Debt OutstandingIssuancesato-technologies-warrant-mar-2026b
535.0K
Exact issuance date not disclosed in any reachable primary; as_of reflects the FY2025 audited financial statements (authorized for issue April 27, 2026), whose subsequent-events note confirms the 534,980 debt-settlement units were issued.
FY2025 Audited Consolidated Financial StatementsMon, Mar 23, 2026
Debt OutstandingIssuancesato-technologies-warrant-mar-2026a
8.0M
Second & Final Tranche Closing (C$1.375M Private Placement)
Mon, Mar 16, 2026
Debt OutstandingIssuanceSATO-Mar29
340.0K
First Tranche Closing (C$867K) & Upsized to C$1.4M
Debt OutstandingIssuancesato-technologies-warrant-mar-2026
8.3M
First Tranche Closing (C$867K) & Upsized to C$1.4M
Wed, Dec 31, 2025
BTC Holdings
9→7-2 BTC(-22.2%)
All 7 BTC pledged as collateral for the Sygnum long-term loan and the revolving line of credit. Carrying amount $827,023 (BTC only) / $829,827 (incl. small Other Digital assets).
FY2025 Audited Consolidated Financial StatementsShares Outstanding
73.3M→73.3M+97(+0.0%)
Year-end basic share count. Increased only by +97 shares during 2025 (stock-option exercise). Subsequent post-year-end private placement raised count to 90,073,005 by Mar 24 2026.
FY2025 Audited Consolidated Financial StatementsDebt Outstandingperiodic repaymentSATO-Syg26
6.8M→3.0M-3.7M(-55.2%)
Down from CAD$5,770,276 at Dec 31 2024 after CAD$3,276,957 of repayments during 2025. Loan classified entirely as current at year-end (matures Jul 2026, but reclassified to non-current in subsequent forbearance — see post-balance-sheet note).
FY2025 Audited Consolidated Financial StatementsDebt Outstandingperiodic repaymentSATO-RCF
18.6K→20.4K+1.8K(+9.9%)
Drawn down to near-zero ($20,408) from $573,609 at Dec 31 2024 after $584,615 of repayments. Facility size remains $1,600,915 (US$1,150,000).
FY2025 Audited Consolidated Financial StatementsFiat Reserve
640.6K→123.7K-516.9K(-80.7%)CAD
Excludes restricted cash ($0 at year-end vs $90,312 at Dec 31 2024). Down 81% YoY from $658,488 reflecting ongoing cash burn during AI pivot.
FY2025 Audited Consolidated Financial Statements