Fun

$SAI’s Skyrocket on Friday Shows Enormous Potential in Bitcoin Heating

News Feed - 2023-04-18 02:04:48

$SAI"s Skyrocket on Friday Shows Enormous Potential in Bitcoin Heating press release


PRESS RELEASE.SAITECHLimited (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 Leegave 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.


 


 


 


  Tags in this story Sai


This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. Media


Bitcoin.com is the premier source for everything crypto-related. Contact the Media team on ads@bitcoin.com to talk about press releases, sponsored posts, podcasts and other options. SEC Commissioner Hester Peirce States Proposed Amendments to Definition of "Exchange" Render Innovation "Kaput" REGULATION | 2 hours ago Economist and Political Scientist Refute Claims of US Dollar"s Demise Despite Trend of De-Dollarization News NEWS | 4 hours ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleSEC Charges Crypto Exchange Bittrex With Operating Unregistered Exchange, Broker, and Clearing Agency Next articleTether Stablecoin Sees 22% Growth in 2023 Despite Dollar-Pegged Token Economy’s Contraction More Popular NewsIn Case You Missed ItFollowing a Brief Fee Spike, Gas Prices to Move Ethereum Drop 76% in 12 Days


Transaction fees on the Ethereum network are dropping again after average fees saw a brief spike on April 5 jumping to $43 per transfer. 12 days later, average ether fees are close to dropping below $10 per transaction and median-sized ... read more.SEC Risks Violating Admin Procedure Act by Rejecting Spot Bitcoin ETFs, Says Grayscale Fed"s Bullard Wants to Raise Bank Rate to 3.5% by Year"s End, Hints at 75 Basis Point Rate Hike Economist Predicts the Fed"s Response to Inflation Will Push Crypto Higher Ethereum Foundation"s Financial Report Discloses It Holds $1.6 Billion in Assets, 80.5% Held in Ether

News Feed

Brayden Lindrea21 hours agoSui Foundation denies it sold locked staking rewards on BinanceSui was accused of dumping locked and non-circulating staked SUI tokens on Binance.6247 Total views3 Total sharesListen to article
Crypto custody firm Bakkt faces delisting if shares stay under $1
Jesse Coghlan9 hours agoCrypto custody firm Bakkt faces delisting if shares stay under $1Bakkt has posted back-to-back losses and a plummeting share price since listing in October 2021 and the NYSE is threatening to pull
Trader loses $68M in address poisoning scam
Zoltan Vardai11 hours agoTrader loses $68M in address poisoning scamThe attack caused the unknown trader to lose over 97% of their crypto holdings.3010 Total views17 Total sharesListen to article 0:00NewsOwn this piece o
Oil land buyer LandBridge makes a nod to crypto miners in $320M IPO
Jesse Coghlan3 hours agoOil land buyer LandBridge makes a nod to crypto miners in $320M IPOLandBridge has a huge amount of land in the middle of America’s oil country, but it also says it can make big money off crypto
Gareth Jenkinson10 hours agoAI optimizing crypto exchange functions — Bitget execArtificial intelligence tools are providing solutions to various functions and departments within major cryptocurrency exchanges.2391 Tot
European Parliament to Cancel Vote on Crypto Assets Framework
European Parliament to Cancel Vote on Crypto Assets Framework The European Parliament will not hold a planned vote on crypto regulations after texts that can be interpreted as an a
Author Insists Current Gold Price Cheaper Now Than in 1980
Author Insists Current Gold Price Cheaper Now Than in 1980 While gold is generally perceived to be the best hedge against inflation, a report written by author Kelsey Williams has
DOJ recommends harsher sentences AI-enhanced crimes
Tristan Greene2 hours agoDOJ recommends harsher sentences AI-enhanced crimesUsing AI to plan, commit, or help cover up a plan could lead to harsher sentencing in the US soon.649 Total views1 Total sharesListen to article
JPMorgan: Ethereum Losing Ground to Other Crypto in NFT Market Due to High Transaction Fees, Congestion
JPMorgan: Ethereum Losing Ground to Other Crypto in NFT Market Due to High Transaction Fees, Congestion JPMorgan has told its clients that ethereum is losing ground to rival crypto
Tom Blackstone7 hours agoOpyn DeFi protocol founders are leaving crypto after CFTC crackdownTwo of the founders of crypto options platform Opyn are stepping down from leadership roles to pursue other aims, but Opyn will
Cointext CTO Reveals a New Protocol That Aims to Bolster a Censorship-Resistant Economy for Bitcoin Cash
Cointext CTO Reveals a New Protocol That Aims to Bolster a Censorship-Resistant Economy for Bitcoin CashOn May 7, the Cointext CTO and cofounder of Countermarkets, Vin Armani reveal
MVRV Ratio Reveals Bitcoin’s Market Position Amid Short-Term Selling Pressure
Este artículo también está disponible en español. Bitcoin (BTC) has shown a swift recovery, climbing back above $95,000 after experiencing a notable dip below this level