Green crypto miner in Canada to go public with ticker 'SATO' paying homage to Bitcoin creator

Bloomberg
Bloomberg9/9/2021 02:48 PM GMT+08  • 2 min read
Green crypto miner in Canada to go public with ticker 'SATO' paying homage to Bitcoin creator
The "SATO" ticker is homage to Satoshi Nakamoto, the mysterious creator of Bitcoin
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Canada Computational Unlimited Inc. has been conditionally approved for trading on the TSX Venture Exchange in Toronto under the stock symbol “SATO.”

CCU.ai, as the company calls itself, operates a high-grade, carbon-neutral Bitcoin mining centre, according to a statement. It recently gained the backing of True Global Ventures 4 Plus, a blockchain-equity fund that just closed a US$100 million raise.

“CCU.ai presents investors with an opportunity to participate in a resource efficient investment and the crypto market respectively,” Romain Nouzareth, chairman and CEO of CCU.ai, said in a statement. “We are also delighted to have obtained the SATO ticker as an homage to Satoshi Nakamoto,” a reference to the mysterious inventor of Bitcoin.

The stock is expected to begin trading on or about Sept. 12, according to the statement. The approval becomes a formal arrangement at the date of listing, the company said.

The environmental impact of energy consumption from Bitcoin miners has been a concern for years, with the issue coming into further relief in recent months as billionaire Elon Musk cited it as a reason for his Tesla Inc. to stop accepting the cryptocurrency as a payment method.

TGV 4 Plus Founder Dusan Stojanovic said in an email that the fund was attracted to CCU.ai because, among other things, it’s running 100% on hydroelectricity and has numerous ways to grow, such as by developing other centres around the world.

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