SATO Technologies Corp, formerly known as Canada Computational Unlimited Corp, is pleased to announce the signing of a loan agreement through its wholly-owned subsidiary, Canada Computational Unlimited Inc. (“CCU”), with Sygnum Bank, which will allow the Company to finance an initial purchase of up to CHF3,000,000 (CAD$4,000,000) worth of miners or equivalent.
Sygnum has made a non-binding indication to the Company that, depending on market conditions, it is willing to discuss additional equipment financing in tranches that could in the aggregate reach CHF20,000,000 (CAD$26,700,000 equivalent) in principal over time.
Romain Nouzareth, CEO and Chairman of SATO, commented, “There is never a better time to grow than in a bear market. With Sygnum Bank as our lending provider and new mining rigs coming for Center One, we are now producing Bitcoin at a higher speed. This agreement brings us closer to full capacity for self-mining at a highly competitive interest rate in the Mining Financing world.”
Sygnum’s Head of Credit & Lending, Francisco Arruda, commented, “We are pleased that SATO Technologies Corp. is the first recipient of our new green crypto financing solution, which aims to support green-mining and accelerates the industry’s transition towards a carbon-neutral economy. We are happy to support SATO Technologies Corp. in their comprehensive innovation process to create value and improvement through providing sustainable and responsible mining.”