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.
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