Crypto Spotlight: ViaBTC’s Strategic Partner SAI.TECH Goes Public on Nasdaq
05 Mai 2022 - 08:00AM
NEWSBTC
ViaBTC’s strategic partner SAI.TECH Global Corporation (“SAI.TECH”
or “SAI”), a clean-energy-driven Bitcoin mining operator with
leading energy-saving solutions to the computing, power, and
heating industry, officially listed on Nasdaq on May 2, 2022 (EST).
The Class A ordinary shares and warrants of SAI commenced trading
on the Nasdaq Stock Market on May 2, 2022, under the new ticker
symbols “SAI” and “SAITW,” respectively. The recognition for
SAI.TECH among institutional and individual investors will
undoubtedly give rise to a new paradigm for crypto mining and
sustainable energy growth. Following the latest industry trend,
SAI.TECH will bring fresh momentum to the sustainable future of
crypto mining. As ViaBTC’s strategic partner for SaaS solutions,
SAI.TECH is a global energy-saving Bitcoin mining operator and
a clean-tech company that integrates Bitcoin mining, heating, and
power industries. At the moment, recycling clean, renewable energy
is a primary technological goal in crypto mining, and the sector is
witnessing the emergence of projects that focus on clean energies
like solar power, hydropower, and recovered waste heat. For
example, in Canada, some have started to use the heat generated by
BTC mining to heat farming greenhouses and fishponds. Meanwhile,
Slovakia, a small European country, has built biogas plants to
power BTC mining. In fact, apart from crypto mining, Web 3.0, which
paints the blueprint of a free, open world, also has an enormous
demand for energy. As an infrastructure underpins that massive data
needs to be stored on blockchains and enable real-time
interactions, Web 3.0 requires the adoption of high-performance
computing with enormous power consumption or even supercomputers,
which consume tons of energy. A large amount of energy eventually
dissipates in the air as heat during the computing process. It is a
pity that the enormous amount of heat is wasted like that, which is
why SAI.TECH introduced the SAIHUB solution: SAI’s innovative
solution uses patented waste heat recovery and liquid cooling
technology to convert the waste heat generated by mining into
heating sources for various residential, commercial, industrial,
and agricultural application scenarios. Through electrifying chip
heating, SAI reduces fossil-fuel use in traditional boilers and
ultimately achieves the goal of reducing carbon emissions. With
such a technology, 90% of the heat generated by mining rigs can be
recovered and stored, which powers BTC mining and meets the various
needs such as agriculture, commerce, and industrial heating
demands, covering farming greenhouses and urban heating systems.
The Q1 2022 report of BMC (Bitcoin Mining Council) shows that in
global BTC mining, sustainable energy now takes up 58.4% of
the total energy consumption to empower the industry, making it one
of the most sustainable industries globally. As the first company
in the mining sector to publish carbon footprint and ESG reports,
SAI.TECH is also promoting the green transition of the mining
industry through its innovative solutions. According to the data
from BTC.com, the global BTC hash rate of ViaBTC Pool stands at
21,050 PH/s. Assuming that the unit power consumption of Antminer
S19 XP is 21.5W/terahash, a hash rate of 21,050 PH/s means the
miner consumes 452,575kW every second. However, if SAI.TECH’s
SAIHUB solution, which integrates the liquid cooling and waste heat
recovery technologies, is adopted in this case, then the miner can
reuse 407,317.5kW of energy per second. Driven by the rise of
emerging fields and the large-scale consumption of energy,
providers of energy-oriented solutions are winning the favor of
institutional investors, and more relevant entities are en route to
go public. Over the past year, more than ten crypto companies have
merged and gone public through SPACs, such as Core Scientific,
Cipher Mining, and Bakkt Holdings. The “listing wave” has also
swept the crypto mining industry. Apart from SAI.TECH, other crypto
mining companies such as BitFuFu and Bitdeer also plan to go public
through SPACs this year. Getting listed through SPAC is one
of the many ways crypto businesses are trying to become legitimate
enterprises in global finance. Crypto mining companies getting
listed will make conventional financial institutions pay more
attention to the crypto sector. This connection and interaction
between traditional capital markets and emerging industries will
catalyze a series of chemical reactions. Backed by funding from
investors worldwide, these listed clean energy companies will apply
clean energy technologies in more scenarios. ViaBTC Pool, a
world-renowned mining pool, keeps track of developments in this
field. In the future, the pool will continue to work with partners
through more close collaboration in energy and mining while
exploring the industry’s growing trends. We hope that more
institutions will join us to build a thriving ecosystem for the
future of clean crypto mining.
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