press release
PRESS RELEASE. SAITECH Limited (SAI for short), a clean energy and computing operator based in Singapore, saw a surge in its stock price last Friday. The highest increase in SAI’s stock price on that day was $7.4, a 387% rise from the previous day’s price. The closing price of the stock was $4.9, still up 222.3% from the previous day. Based on the closing price, the company’s market value was $111 million. The turnover rate and trading volume of SAI on that day were both very high, which showed enthusiasm among investors about SAI.
Arthur Lee, CEO of SAI, stated on Twitter, “Actually, BTC mining always leads the development of HPC, just like AI computing, who uses the best chips and faces cooling challenges. That’s why $SAI developed a liquid cooling and heat reuse system designed for all kinds of chips in the future, to make computing sustainable and ESG-friendly.”
SAI is a global computing operator and clean energy technology company that horizontally integrates the computing, thermal, and power industries. SAI adopts exclusive liquid cooling and waste heat recovery technology to provide potential customers with clean thermal energy services while reducing the operating costs of digital asset computing infrastructure.
In the future, SAI will focus on providing a comprehensive solution for clean energy creation from software to hardware for the computing industry to capture and reuse the heat generated by Bitcoin mining. These clean energy solutions will include everything from computing chips to HPC high-performance computers and data center infrastructure construction to the design and implementation of data center liquid cooling and waste heat utilization schemes to provide heating for various settings.
SAI believes that data center heating will be an important transformation of future urban energy systems toward green and sustainable clean energy development. Currently, SAI’s high-performance computing mining machines have been successful in providing heat in multiple pilot projects, which include 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 the NASDAQ in the United States. SAI became the first chip heating stock.
Arthur Lee once said in an interview with the media 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 energy waste caused by Bitcoin mining, just like Tesla in the automotive industry, and make the industry’s underlying infrastructure move towards a cleaner and more efficient direction.
In March 2022, SAI launched its first SAITIME annual 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 computing industry, as well as its first-generation waste heat recovery computing equipment and software.
In August of the same year, SAI held its first-ever Bitcoin Heat Day in New York, and Arthur Lee delivered a keynote speech on Bitcoin thermal energy. The content mainly included the huge potential the Bitcoin heating market can have on clean energy production and also application scenarios 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 heating scenario demonstration projects (agricultural greenhouses, commercial buildings, etc.).
In the same month, SAI announced its first energy-efficient computing center project in North America – SAI NODE OHIO, which successfully landed in Chesterland, Ohio, USA. It will serve as a heating demonstration site to showcase SAIHUB’s large-scale, clean energy heating capabilities to the public. At the same time, the site will become SAI.TECH’s operational headquarters in North America.
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 the computing industry, have a high demand for energy. He firmly believes that solving heat dissipation for chips and using chips to solve heating problems is the direction that truly adds value. After Lee accidentally got involved in the Bitcoin industry, he made up his mind to drop out of school and devote himself to the development of heat utilization in computing power, especially related to mining Bitcoin. It took him three years to lead SAI.TECH to successfully list on NASDAQ.
In April 2023, at the SAI annual conference, SAITIME 2023 will be held in an online live-streaming event. SAI will announce its newly upgraded product line, major project progress, and future strategic development plans.
SAI has always insisted on research and innovation in the computing industry and has made significant contributions to leading innovation and development in industries including clean energy, BTC, AI, and HPC.
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