Bitcoin major mining pool ViaBTC's strategic partner SAI.TECH successfully listed on Nasdaq

The strategic partner of the Bitcoin mining pool ViaBTC, SAI.TECH Global Corporation (SAI.TECH or SAI), a clean mining power operator from Singapore, has successfully landed on the Nasdaq. SAI's Class A common stock and warrants began trading on the Nasdaq stock market on May 2, 2022, with the new trading codes "SAI" and "SAITW" respectively. The capital influx and investor recognition are bound to provide a new industry benchmark for the sustainable development of the cryptocurrency mining sector and energy. The successful listing of SAI.TECH will also inject new growth momentum into the sustainable development of the cryptocurrency mining industry.

The strategic partner of the Bitcoin large mining pool ViaBTC — the clean computing power operator SAI.TECH Global Corporation from Singapore, known as SAI, has successfully landed on Nasdaq. SAI's Class A common stock and warrants began trading on the Nasdaq stock market on May 2, 2022, with new trading codes "SAI" and "SAITW" respectively. The influx of capital and recognition from investors are expected to provide a new industry benchmark for the sustainable development of the crypto mining industry and energy sector. The successful listing of SAI.TECH is also expected to inject new growth momentum into the sustainable development of the crypto mining industry.

SAI.TECH is the strategic partner of ViaBTC's SaaS solution, a clean computing power operator that integrates computing power, electricity, and thermal energy horizontally. Currently, exploring the reuse of clean and renewable energy sources is a crucial technological breakthrough in the crypto mining industry. Projects utilizing clean energy sources such as solar energy, biogas, waste heat, are emerging. For example, in Canada, some are using the heat generated from Bitcoin mining to heat greenhouses and fish ponds, while in the small European country of Slovakia, there are cases of constructing biogas plants to power Bitcoin mining.

Not only the crypto mining industry but also outlining the vision of a free and open Web 3.0 requires significant energy consumption. Storing large amounts of data on the blockchain for real-time interactions demands substantial computing power, even supercomputing support, which translates to high energy consumption.

In the traditional energy transmission process, a large amount of energy eventually dissipates as heat into the air, wasting this discarded heat energy is regrettable. Thus, SAI.TECH conceived a "recyclable triangle": the heat generated by Bitcoin mining machines is converted into clean renewable thermal energy through waste heat recovery technology, which, in turn, powers Bitcoin mining machines. Liquid cooling and waste heat recovery technology are innovative technologies of SAI.TECH with diverse applications, effectively reducing carbon emissions and achieving secondary energy utilization.

With this technology, 90% of the heat emitted by mining machines can be reclaimed and stored. This not only continues to power Bitcoin mining but also meets the diverse heating needs of agriculture, commerce, and industrial scenarios, such as greenhouse cultivation and urban heating systems.

According to the BMC Bitcoin Mining Council's Q1 2022 data report, 58.4% of the energy used in global Bitcoin mining comes from various forms of sustainable energy sources, making Bitcoin mining one of the most sustainable industries globally. As the first in the industry to release a carbon footprint and ESG report, SAI.TECH is actively promoting the sustainable development of global clean computing power.

According to BTC.com's on-chain browser data, the global Bitcoin hash rate of the ViaBTC mining pool is 21,050 PH/s. Assuming the Antminer S19 XP unit consumes 21.5W/T, the equivalent level requires 452,575kW per second. By utilizing SAI.TECH's liquid cooling + waste heat recovery technology, 407,317.5kW of the energy consumed per second can be reused.

In reality, the rise of emerging industries and massive energy consumption have made energy solution organizations favored by capital. The listing of associated institutions has become a trend. Over the past year, more than 10 institutions engaged in crypto businesses have gone public through SPAC mergers, such as Core Scientific, Cipher Mining, Bakkt Holdings, among others. The "listing frenzy" has spread to the crypto mining sector, with other crypto mining institutions like BitFuFu and Bitdeer also planning to go public through SPAC this year.

Applying for SPAC listing is one of the many measures that institutions engaged in crypto businesses are taking to gain legitimacy in the global financial arena. The listing of these crypto mining institutions will further enhance the attention of global traditional financial institutions to the cryptocurrency sector, bridging and interacting between traditional capital markets and emerging industries, catalyzing a series of reactions. For these listed clean energy companies, with the injection of global capital, clean energy technologies will be applied in more scenarios.

As a globally renowned mining pool institution, ViaBTC is also closely monitoring the developments in this field. In the future, we will continue to collaborate with partners to deepen cooperation in energy and mining, and explore the direction of industry development. We hope that more institutions will join us to jointly prosper in this field.