$SAI’s Skyrocket on Friday Exhibits Monumental Potential in Bitcoin Heating
April 17, 2023
PRESS RELEASE. SAITECH Restricted (SAI for brief), a clear vitality and computing operator based mostly in Singapore, noticed a surge in its inventory worth final Friday. The very best improve in SAI’s inventory worth on that day was $7.4, a 387% rise from the day past’s worth. The closing worth of the inventory was $4.9, nonetheless up 222.3% from the day past. Based mostly on the closing worth, the corporate’s market worth was $111 million. The turnover charge and buying and selling quantity of SAI on that day had been each very excessive, which confirmed enthusiasm amongst buyers about SAI.
Arthur Lee, CEO of SAI, acknowledged on Twitter, “Truly, BTC mining at all times leads the event of HPC, identical to AI computing, who makes use of one of the best chips and faces cooling challenges. That’s why $SAI developed a liquid cooling and warmth reuse system designed for all types of chips sooner or later, to make computing sustainable and ESG-friendly.”
SAI is a world computing operator and clear vitality expertise firm that horizontally integrates the computing, thermal, and energy industries. SAI adopts unique liquid cooling and waste warmth restoration expertise to offer potential clients with clear thermal vitality providers whereas decreasing the working prices of digital asset computing infrastructure.
Sooner or later, SAI will give attention to offering a complete resolution for clear vitality creation from software program to {hardware} for the computing trade to seize and reuse the warmth generated by Bitcoin mining. These clear vitality options will embody every part from computing chips to HPC high-performance computer systems and knowledge middle infrastructure building to the design and implementation of information middle liquid cooling and waste warmth utilization schemes to offer heating for numerous settings.
SAI believes that knowledge middle heating shall be an vital transformation of future city vitality techniques towards inexperienced and sustainable clear vitality improvement. Presently, SAI’s high-performance computing mining machines have been profitable in offering warmth in a number of pilot tasks, which embody agricultural greenhouses, procuring malls, and workplace buildings, and SAI established the primary computing energy middle in Ohio, USA, final 12 months for vegetable and fruit planting.
In Might 2022, SAI accomplished a merger with SPAC (Particular Function Acquisition Firm) TradeUP International Company (TUGCU) and commenced buying and selling on the NASDAQ in the USA. SAI turned the primary chip heating inventory.
Arthur Lee as soon as mentioned in an interview with the media that SAI strives to grow to be the “Tesla” of fresh computing and assist cut back carbon emissions in society. He hopes that SAI can convey disruptive modifications to the Bitcoin mining trade, particularly relating to clear computing and vitality waste attributable to Bitcoin mining, identical to Tesla within the automotive trade, and make the trade’s underlying infrastructure transfer in direction of a cleaner and extra environment friendly course.
In March 2022, SAI launched its first SAITIME annual company convention, streamed reside on-line, introducing the corporate’s core philosophy and organizational construction to the general public. On the convention, SAI proposed the combination plan SAIHUB, which is positioned to advertise the inexperienced and environment friendly transformation of the computing trade, in addition to its first-generation waste warmth restoration computing gear and software program.
In August of the identical 12 months, SAI held its first-ever Bitcoin Warmth Day in New York, and Arthur Lee delivered a keynote speech on Bitcoin thermal vitality. The content material primarily included the large potential the Bitcoin heating market can have on clear vitality manufacturing and in addition utility eventualities he envisioned, equivalent to agricultural greenhouses from the angle of worldwide thermal vitality demand and vitality construction. Lee additionally defined how SAI.TECH’s SAIHUB merchandise present energy-saving options for Bitcoin mining and heating, in addition to profitable heating situation demonstration tasks (agricultural greenhouses, business buildings, and so on.).
In the identical month, SAI introduced its first energy-efficient computing middle mission in North America – SAI NODE OHIO, which efficiently landed in Chesterland, Ohio, USA. It’s going to function a heating demonstration web site to showcase SAIHUB’s large-scale, clear vitality heating capabilities to the general public. On the similar time, the positioning will grow to be SAI.TECH’s operational headquarters in North America.
In September 2022, Arthur Lee gave an interview with NASDAQ, throughout which he advised his story. He studied vitality and environmental techniques engineering at Zhejiang College. Lee believes that many industries, together with the computing trade, have a excessive demand for vitality. He firmly believes that fixing warmth dissipation for chips and utilizing chips to unravel heating issues is the course that actually provides worth. After Lee by accident obtained concerned within the Bitcoin trade, he made up his thoughts to drop out of faculty and dedicate himself to the event of warmth utilization in computing energy, particularly associated to mining Bitcoin. It took him three years to guide SAI.TECH to efficiently checklist on NASDAQ.
In April 2023, on the SAI annual convention, SAITIME 2023 shall be held in a web based live-streaming occasion. SAI will announce its newly upgraded product line, main mission progress, and future strategic improvement plans.
SAI has at all times insisted on analysis and innovation within the computing trade and has made vital contributions to main innovation and improvement in industries together with clear vitality, BTC, AI, and HPC.
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