Press release
PRESS RELEASE. SAITECH Limited (SAI for short), a Singapore-based clean energy and IT operator, saw its share price rise last Friday. The highest increase in SAI share price that day was $7.4, an increase of 387% from the previous day’s price. The closing price of the share was $4.9, still 222.3% higher than the previous day. Based on the closing price, the company’s market value was $111 million. SAI’s turnover rate and trading volume that day were very high, which showed investors’ enthusiasm for SAI.
Arthur Lee, CEO of SAI, stated the Twitter, “Actually, BTC mining always leads the development of HPC, just like AI computing, which uses the best chips and faces cooling challenges. That is why $SAI developed a liquid cooling and heat reuse system designed for all types of chips in the future, to make computing sustainable and ESG compliant.”
SAI is a global IT operator and clean energy technology company that horizontally integrates the IT, thermal and power industries. SAI adopts unique liquid cooling and waste heat recovery technology to provide potential customers with clean thermal power services while reducing the operating costs of digital asset computing infrastructure.
Going forward, SAI will focus on providing a comprehensive clean power solution from software to hardware for the computer industry to capture and reuse the heat generated by Bitcoin mining. These clean energy solutions will include everything from computer chips to high-performance HPC computers and construction of data center infrastructure, to the design and implementation of waste heat utilization schemes and liquid cooling for data centers to provide heating for various environments.
SAI believes that data center heating will be a major transformation of future urban energy systems towards clean, green and sustainable energy development. Currently, SAI’s high-performance computing mining machines have been successful in providing heat in multiple pilot projects, including agricultural greenhouses, shopping malls, and office buildings, and SAI established the first computing power center in Ohio, USA. , last year for vegetable and fruit planting.
In May 2022, SAI completed a merger with SPAC (Special Purpose Acquisition Company) TradeUP Global Corporation (TUGCU) and began trading on NASDAQ in the United States. SAI became the first chip heating action.
Arthur Lee once said in a media interview that SAI strives to become the “Tesla” of clean computing and help reduce carbon emissions in society. He hopes that SAI can bring disruptive changes to the Bitcoin mining industry, especially regarding clean computing and the energy waste caused by Bitcoin mining, just like Tesla in the auto industry, and make the infrastructure underlying industry move in a cleaner and more efficient direction.
In March 2022, SAI launched its first annual SAITIME corporate conference, streamed live online, introducing the company’s core philosophy and organizational structure to the public. At the conference, SAI proposed the integration plan SAIHUB, which is positioned to promote the green and efficient transformation of the computer industry, as well as its first-generation waste heat recovery computer equipment and software.
In August of the same year, SAI held its first Bitcoin Heat Day in New York and Arthur Lee gave a keynote address on Bitcoin heat energy. The content mainly included the huge potential that the Bitcoin heating market can have in clean energy production and also the application scenarios that he envisioned, such as agricultural greenhouses from the perspective of global thermal energy demand and energy structure. . Lee also explained how SAI.TECH’s SAIHUB products provide energy-saving solutions for Bitcoin mining and heating, as well as successful demonstration projects of heating scenarios (agricultural greenhouses, commercial buildings, etc.).
In the same month, SAI announced its first North American energy-efficient computer center project: SAI NODE OHIO, which successfully landed in Chesterland, Ohio, USA. It will serve as a heating demonstration site to showcase to the public the large-scale clean energy heating capabilities of SAIHUB. At the same time, the site will become SAI.TECH’s North American operational headquarters.
In September 2022, arthur lee gave an interview with NASDAQ, during which he told his story. He studied energy and environmental systems engineering at Zhejiang University. Lee believes that many industries, including computing, have high energy demands. He firmly believes that solving heat dissipation for chips and using chips to solve heating problems is the direction that really adds value. After Lee accidentally became involved in the Bitcoin industry, he decided to drop out of school and pursue the development of heat utilization in computing power, especially in connection with Bitcoin mining. It took him three years to successfully get SAI.TECH listed on the NASDAQ.
In April 2023, at SAI’s annual conference, SAITIME 2023 will be held in an online live broadcast event. SAI will announce its newly updated product line, the progress of major projects and future strategic development plans.
SAI has always insisted on research and innovation in the computer industry and has made significant contributions to leading innovation and development in industries including clean energy, BTC, AI, and HPC.
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