02:05 PM EDT, 05/21/2024 (MT Newswires) -- (Corrects to show profit came on bitcoin earned, rather than purchased.)

SATO Technologies' ( CCPUF ) on Tuesday said its first-quarter earnings and revenue rose amid an increase in bitcoin earned and higher revenue from digital assets.

The company on Tuesday reported first-quarter earnings of $3.9 million, up 666% from earnings of $510,745 a year earlier.

Revenue for the quarter ended March 31 was $5.9 million, up 51% from $3.9 million a year earlier. Adjusted EBITDA for Q1 was $2.5 million, up 160% from $979,008 a year earlier.

The company earned 83 bitcoin in in the quarter versus 30 in the year-prior quarter.

The company's shares were last seen down $0.01 to $0.27 on the TSX Venture Exchange.

Price: 0.27, Change: -0.01, Percent Change: -3.57