The previous yr has skilled a increase in SPAC crypto mergers, with firms like Core Scientific Inc. Bakkt and Cipher Mining being a few notable examples. SAI.TECH (“SAI” or “the Company”) obtained on the wave of SPAC listings proper earlier than SPAC mergers obtained tougher. Having gotten formally listed on Nasdaq on May 2nd, SAI is the primary “chip heating” idea inventory on the trade, with its CEO & founder Arthur Lee additionally turning into the youngest Chinese CEO ever listed.
Bitcoin has grow to be one of the crucial enticing rising property available on the market in recent times, however the want for more and more energy-intensive computing infrastructure has brought about considerations about its sustainability. By selling ESG customary applied sciences and options, SAI, as a world energy-saving bitcoin mining operator and a clean-tech firm, is attempting to show to the market that the feasibility and the corporate’s enterprise mannequin would possibly leads bitcoin mining to a extra sustainable future. We sat down with Arthur to speak concerning the firm’s revolutionary expertise.
Q1: First, I would love to congratulate SAI on getting listed on Nasdaq. Can you give our readers a transient introduction of SAI? What’s the inspiration to your innovation?
My inspiration is primarily based on what I see as the 2 main traits of the early twenty first century – sustainable improvement and decentralized digital community. Over the previous 20 years, sustainable improvement has grow to be a shared objective globally. Another pattern is, decentralized digital cryptocurrency like Bitcoin has skilled a increase, ushering in the way forward for net 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. As a consequence, how to higher resolve the power consumption downside whereas guaranteeing the steady operation of the Bitcoin community has grow to be an unavoidable dilemma dealing with us.
As a Bitcoin mining operator, SAI foresaw this downside as early as 2019 and has been actively searching for partnerships with massive mining swimming pools. With the assist from one in all our shut companions ViaBTC, a world-leading crypto mining pool, we launched SAIHUB, a cost-efficient resolution created to cut back the excessive prices concerned within the mining course of. After three years of improvement, SAIHUB has leapt from 1.0 to 3.0. The newest SAIHUB 3.0 is an built-in and decentralized resolution 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 grow to be extra sustainable? How does SAIHUB resolution think about that?
According to 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 is referred to as “waste heat.” Instead of utilizing an additional big quantity of electrical energy to cool information facilities, our SAIHUB resolution is capturing that waste warmth and utilizing it to defray power use elsewhere.
With the assistance of SAI’s patented waste warmth utilization expertise, 90% of the warmth generated by the mining course of will be recovered and reused into heating sources for varied residential, business, industrial, and agricultural utility situations.
In current years, the usage of renewable power for Bitcoin mining has dropped considerably as varied elements have led pure gasoline and coal to grow to be extra in style sources of energy for the trade. This change has made SAI’s mission much more important.
Q3: Can you introduce extra of the SAIHUB resolution? What’s the historical past behind this resolution?
The evolution of SAIHUB has gone by means of three phases. At the 1.0 stage (2019-2020), SAIHUB used 16nm chips. The energy was 50kw, with hash charges round 350T. This resolution was ready to 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 present 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. We have efficiently run three pilot tasks of unpolluted computing information facilities, protecting greater than 30,000 sq. meters of greenhouses, massive business buildings, and procuring malls for heating.
At this stage, we are keen to open up our patented liquid cooling and waste warmth restoration expertise to scale up the SAIHUB enterprise mannequin, improve the effectivity of the entire trade along with our companions, together with ViaBTC Pool, and promote the clear transition of the computing trade.
This fall: You simply talked about the partnership with ViaBTC Pool. Could 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 intensive affect in that discipline.
As world warming escalates, the worldwide name for carbon neutrality is additionally 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 enhance the innovation of unpolluted power applied sciences to enhance the utilization of unpolluted power in crypto mining and cut back its environmental affect.
At the identical time, we have now additionally engaged in profound exchanges and cooperation with ViaBTC relating to the SaaS resolution. In the long run, we additionally hope to companion up with extra firms within the discipline of BTC mining that share our beliefs. Together, we’ll increase the blockchain house and speed up the progress of Bitcoin.
Q5: SAI recently took a main 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 huge quantities of warmth produced have been a fixed trigger for concern. Few individuals, nevertheless, 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 staff with wealthy expertise within the discipline.
Although the price of electrical heating is at present increased than that of fossil power heating, as carbon taxes and varied insurance policies improve the value of fossil fuels, this can finally change. It is estimated that the price of utilizing pure gasoline to get hold of warmth will probably be about 65% increased than that of electrical heating by 2050, which means that heating will inevitably be primarily electrical. In this case, SAIHUB has an inherent benefit over fossil fuel-based heating options in the long run.
Let’s evaluation the carbon neutrality roadmap dedicated by the world’s main nations. Most developed nations, together with the United States, Japan, and the United Kingdom, have set the deadline to be 2050. However, the current Russian-Ukrainian tensions have introduced the European power market to a standstill. In addition to the value improve of greater than 200% for pure gasoline, nations just like the United Kingdom should rethink utilizing coal to change pure gasoline energy technology. The contribution worth of unpolluted power to obtain carbon neutrality may additionally require a appreciable discount in consumption ranges in accordance to present forecasts, which implies that within the subsequent twenty-eight years, power effectivity plans similar to these represented by SAIHUB will tackle extra tasks, which is a problem, but in addition a uncommon historic alternative.