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$SAI’s skyrocket on Friday shows huge potential in Bitcoin heating up – Press release Bitcoin News
press release
PRESS RELEASE. SAITECH Limited (abbreviated SAI), a clean energy and data operator based in Singapore, saw a rise in its share price last Friday. The highest increase in SAI’s share price that day was $7.4, a 387% increase 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 dollars. The turnover rate and trading volume of SAI that day were both very high, showing an enthusiasm among investors about SAI.
Arthur Lee, CEO of SAI, commented on Twitter“Actually, BTC mining always leads the development of HPC, just like AI computing, which 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 data operator and clean energy technology company that horizontally integrates the computing, thermal and power industries. SAI uses exclusive liquid cooling and waste heat recovery technology to provide potential customers with clean thermal energy services, while reducing the operating costs of digital 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 data chips to high-performance HPC computers and the construction of data center infrastructure 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 towards green and sustainable clean energy development. Currently, SAI’s high-performance data mining machines have been successful in providing heat in several pilot projects, which include agricultural greenhouses, shopping malls and office buildings, and SAI established the first data 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 tile heating store.
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 in terms of 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 green and efficient transformation of the computer industry, as well as first-generation computer equipment and software for waste heat recovery.
In August of that year, SAI held its first ever Bitcoin Heat Day in New York, and Arthur Lee gave a keynote speech on Bitcoin thermal energy. The content mainly included the huge potential the Bitcoin heating market could 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 data 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 capability 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, where he told his story. He studied energy and environmental systems engineering at Zhejiang University. Lee believes that many industries, including the computer industry, have a high demand for energy. He is convinced that solving heat dissipation for tiles and using tiles to solve heating problems is the direction that really adds value. After Lee accidentally got involved in the Bitcoin industry, he decided to drop out of school and devote himself to the development of heat exploitation in computing, especially related to Bitcoin mining. It took him three years to lead SAI.TECH to successfully list on NASDAQ.
In April 2023, at SAI’s 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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