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PRESS RELEASE. SAITECH Restricted (SAI for brief), a clear power and computing operator based mostly in Singapore, noticed a surge in its inventory value final Friday. The best enhance in SAI’s inventory value on that day was $7.4, a 387% rise from the day past’s value. The closing value of the inventory was $4.9, nonetheless up 222.3% from the day past. Based mostly on the closing value, the corporate’s market worth was $111 million. The turnover fee and buying and selling quantity of SAI on that day have been each very excessive, which confirmed enthusiasm amongst traders about SAI.
Arthur Lee, CEO of SAI, acknowledged on Twitter, “Really, BTC mining all the time leads the event of HPC, similar to AI computing, who makes use of the very 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 worldwide computing operator and clear power know-how firm that horizontally integrates the computing, thermal, and energy industries. SAI adopts unique liquid cooling and waste warmth restoration know-how to supply potential clients with clear thermal power companies whereas decreasing the working prices of digital asset computing infrastructure.
Sooner or later, SAI will deal with offering a complete resolution for clear power creation from software program to {hardware} for the computing business to seize and reuse the warmth generated by Bitcoin mining. These clear power options will embody every thing from computing chips to HPC high-performance computer systems and information middle infrastructure development to the design and implementation of knowledge middle liquid cooling and waste warmth utilization schemes to supply heating for numerous settings.
SAI believes that information middle heating might be an necessary transformation of future city power techniques towards inexperienced and sustainable clear power growth. At the moment, SAI’s high-performance computing mining machines have been profitable in offering warmth in a number of pilot tasks, which embody agricultural greenhouses, purchasing malls, and workplace buildings, and SAI established the primary computing energy middle in Ohio, USA, final 12 months for vegetable and fruit planting.
In Could 2022, SAI accomplished a merger with SPAC (Particular Objective Acquisition Firm) TradeUP World Company (TUGCU) and commenced buying and selling on the NASDAQ in the US. SAI turned the primary chip heating inventory.
Arthur Lee as soon as stated in an interview with the media that SAI strives to develop into the “Tesla” of unpolluted computing and assist scale back carbon emissions in society. He hopes that SAI can deliver disruptive modifications to the Bitcoin mining business, particularly relating to clear computing and power waste attributable to Bitcoin mining, similar to Tesla within the automotive business, and make the business’s underlying infrastructure transfer in the direction of a cleaner and extra environment friendly route.
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 mixing plan SAIHUB, which is positioned to advertise the inexperienced and environment friendly transformation of the computing business, 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 power. The content material primarily included the massive potential the Bitcoin heating market can have on clear power manufacturing and in addition utility situations he envisioned, akin to agricultural greenhouses from the attitude of worldwide thermal power demand and power 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, industrial 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 would function a heating demonstration website to showcase SAIHUB’s large-scale, clear power heating capabilities to the general public. On the identical time, the location will develop into SAI.TECH’s operational headquarters in North America.
In September 2022, Arthur Lee gave an interview with NASDAQ, throughout which he informed his story. He studied power and environmental techniques engineering at Zhejiang College. Lee believes that many industries, together with the computing business, have a excessive demand for power. He firmly believes that fixing warmth dissipation for chips and utilizing chips to unravel heating issues is the route that actually provides worth. After Lee by accident acquired concerned within the Bitcoin business, he made up his thoughts to drop out of college and dedicate himself to the event of warmth utilization in computing energy, particularly associated to mining Bitcoin. It took him three years to steer SAI.TECH to efficiently record on NASDAQ.
In April 2023, on the SAI annual convention, SAITIME 2023 might be held in an internet live-streaming occasion. SAI will announce its newly upgraded product line, main mission progress, and future strategic growth plans.
SAI has all the time insisted on analysis and innovation within the computing business and has made vital contributions to main innovation and growth in industries together with clear power, BTC, AI, and HPC.
This can be a press launch. Readers ought to do their very own due diligence earlier than taking any actions associated to the promoted firm or any of its associates or companies. Bitcoin.com will not be accountable, immediately or not directly, for any injury or loss brought on or alleged to be attributable to or in reference to the usage of or reliance on any content material, items or companies talked about within the press launch.
Picture Credit: Shutterstock, Pixabay, Wiki Commons
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