The previous 12 months has skilled a increase in SPAC crypto mergers, with corporations like Core Scientific Inc. Bakkt and Cipher Mining being a couple of notable examples. SAI.TECH (“SAI” or “the Firm”) obtained on the wave of SPAC listings proper earlier than SPAC mergers obtained harder. Having gotten formally listed on Nasdaq on Could 2nd, SAI is the primary “chip heating” idea inventory on the trade, with its CEO & founder Arthur Lee additionally changing into the youngest Chinese language CEO ever listed.
Bitcoin has develop into one of the vital enticing rising property in the marketplace in recent times, however the want for more and more energy-intensive computing infrastructure has triggered considerations about its sustainability. By selling ESG commonplace applied sciences and options, SAI, as a world energy-saving bitcoin mining operator and a clean-tech firm, is making an attempt to show to the market that the feasibility and the corporate’s enterprise mannequin may leads bitcoin mining to a extra sustainable future. We sat down with Arthur to speak in regards to the firm’s progressive know-how.
Q1: First, I want to congratulate SAI on getting listed on Nasdaq. Are you able to give our readers a quick introduction of SAI? What’s the inspiration on your innovation?
My inspiration is predicated on what I see as the 2 main tendencies of the early twenty first century – sustainable growth and decentralized digital community. Over the previous 20 years, sustainable growth has develop into a shared objective globally. One other pattern is, decentralized digital cryptocurrency like Bitcoin has skilled a increase, ushering in the way forward for internet 3.0. The excessive worth of Bitcoin has proved its significance however has in equal elements been criticized for its excessive power consumption and un-sustainability. Consequently, the right way to higher resolve the power consumption drawback whereas guaranteeing the steady operation of the Bitcoin community has develop into an unavoidable dilemma going through us.
As a Bitcoin mining operator, SAI foresaw this drawback as early as 2019 and has been actively on the lookout for partnerships with massive mining swimming pools. With the assist from one in every of our shut companions ViaBTC, a world-leading crypto mining pool, we launched SAIHUB, a cost-efficient answer created to cut back the excessive prices concerned within the mining course of. After three years of growth, SAIHUB has leapt from 1.0 to three.0. The newest SAIHUB 3.0 is an built-in and decentralized answer designed to horizontally combine the computing, energy and heating industries to construct a extra environment friendly and sustainable infrastructure for Bitcoin mining.
Q2: How can the Bitcoin mining infrastructure develop into extra sustainable? How does SAIHUB answer think about that?
In accordance with calculations, about 99% of the electrical energy consumed by Bitcoin mining machines turns into warmth power. This a part of the warmth power has been uncared for for a very long time, so it’s known as “waste warmth.” As a substitute of utilizing an additional enormous quantity of electrical energy to chill information facilities, our SAIHUB answer is capturing that waste warmth and utilizing it to defray power use elsewhere.
With the assistance of SAI’s patented waste warmth utilization know-how, 90% of the warmth generated by the mining course of could be recovered and reused into heating sources for numerous residential, industrial, industrial, and agricultural software eventualities.
In recent times, the usage of renewable power for Bitcoin mining has dropped considerably as numerous components have led pure fuel and coal to develop into extra well-liked sources of energy for the business. This transformation has made SAI’s mission much more very important.
Q3: Are you able to introduce extra of the SAIHUB answer? What’s the historical past behind this answer?
The evolution of SAIHUB has gone by way of three levels. On the 1.0 stage (2019-2020), SAIHUB used 16nm chips. The facility was 50kw, with hash charges round 350T. This answer was capable of reuse waste warmth for single-house heating providers. The SAIHUB 2.0, 2020 – 2021, was a step ahead, adopting 7- 8nm chips, with the ability for a single SAIHUB being round 250kw and hash charges leaping to 5P. This model was sufficient to recycle the warmth for a small neighborhood or an agricultural greenhouse, thus enabling us to supply large-scale heating providers.
From 2022 onwards, SAI enters the SAIHUB 3.0 stage. SAIHUB 3.0 lowers the core prices of the mining course of, together with heating, energy, computing, and chip. Now we have efficiently run three pilot tasks of unpolluted computing information facilities, masking greater than 30,000 sq. meters of greenhouses, massive industrial buildings, and purchasing malls for heating.
At this stage, we’re keen to open up our patented liquid cooling and waste warmth restoration know-how to scale up the SAIHUB enterprise mannequin, improve the effectivity of the entire business along with our companions, together with ViaBTC Pool, and promote the clear transition of the computing business.
This autumn: You simply talked about the partnership with ViaBTC Pool. May you please introduce this companion in additional element?
ViaBTC is our strategic companion and in addition one of many main supporters of SAIHUB. As an all-encompassing crypto mining pool established in 2016, ViaBTC is well-recognized for BTC mining and has in depth affect in that subject.
As international warming escalates, the worldwide name for carbon neutrality can be rising stronger. The mining of PoW-based cryptos like Bitcoin consumes a large quantity of fossil power. ViaBTC shares our perception that we must always increase the innovation of unpolluted power applied sciences to enhance the utilization of unpolluted power in crypto mining and cut back its environmental impression.
On the similar time, we have now additionally engaged in profound exchanges and cooperation with ViaBTC concerning the SaaS answer. Sooner or later, we additionally hope to companion up with extra corporations within the subject of BTC mining that share our beliefs. Collectively, we are going to develop the blockchain area and speed up the progress of Bitcoin.
Q5: SAI not too long ago took a significant step into the tech market by getting listed on Nasdaq; what offers SAI a bonus within the aggressive market of Bitcoin mining innovation?
Bitcoin has all the time been related to excessive power prices and unsustainable infrastructure, and the large quantities of warmth produced have been a continuing trigger for concern. Few folks, nonetheless, have considered utilizing this useful resource as an asset, and this perception is what makes SAI stand out. Not solely that, however our firm additionally consists of an elite group with wealthy expertise within the subject.
Though the price of electrical heating is at present increased than that of fossil power heating, as carbon taxes and numerous insurance policies enhance the worth of fossil fuels, it will ultimately change. It’s estimated that the price of utilizing pure fuel to acquire warmth will probably be about 65% increased than that of electrical heating by 2050, that means that heating will inevitably be primarily electrical. On this case, SAIHUB has an inherent benefit over fossil fuel-based heating options in the long run.
Let’s evaluate the carbon neutrality roadmap dedicated by the world’s main nations. Most developed nations, together with the US, Japan, and the UK, have set the deadline to be 2050. Nevertheless, the latest Russian-Ukrainian tensions have introduced the European power market to a standstill. Along with the worth enhance of greater than 200% for pure fuel, nations like the UK should rethink utilizing coal to exchange pure fuel energy era. The contribution worth of unpolluted power to attain carbon neutrality might also require a substantial discount in consumption ranges in line with present forecasts, which signifies that within the subsequent twenty-eight years, power effectivity plans comparable to these represented by SAIHUB will tackle extra obligations, which is a problem, but additionally a uncommon historic alternative.