August 8, 2022

The previous 12 months has skilled a increase in SPAC crypto mergers, with firms like Core Scientific Inc. Bakkt and Cipher Mining being a number of notable examples. SAI.TECH (“SAI” or “the Firm”) bought on the wave of SPAC listings proper earlier than SPAC mergers bought harder. Having gotten formally listed on Nasdaq on Could 2nd, SAI is the primary “chip heating” idea inventory on the alternate, with its CEO & founder Arthur Lee additionally turning into the youngest Chinese language CEO ever listed.

Bitcoin has turn into one of the enticing rising property available on the market lately, 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 worldwide 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 concerning the firm’s progressive expertise.

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 in your innovation?

My inspiration relies on what I see as the 2 main developments of the early twenty first century – sustainable improvement and decentralized digital community. Over the previous 20 years, sustainable improvement has turn into a shared objective globally. One other development 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. Consequently, the way to higher clear up the power consumption drawback whereas making certain the secure operation of the Bitcoin community has turn into an unavoidable dilemma going through us.

As a Bitcoin mining operator, SAI foresaw this drawback as early as 2019 and has been actively in search of partnerships with giant mining swimming pools. With the help from one among our shut companions ViaBTC, a world-leading crypto mining pool, we launched SAIHUB, a cost-efficient resolution created to scale back the excessive prices concerned within the mining course of. After three years of improvement, SAIHUB has leapt from 1.0 to three.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.

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Q2: How can the Bitcoin mining infrastructure turn into extra sustainable? How does SAIHUB resolution consider that?

In line 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 large quantity of electrical energy to chill knowledge 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 might be recovered and reused into heating sources for numerous residential, business, industrial, and agricultural utility situations.

In recent times, using renewable power for Bitcoin mining has dropped considerably as numerous elements have led pure fuel and coal to turn into extra standard sources of energy for the trade. This modification has made SAI’s mission much more important.

Q3: Are you able to introduce extra of the SAIHUB resolution? What’s the historical past behind this resolution? 

The evolution of SAIHUB has gone by way of three levels. On the 1.0 stage (2019-2020), SAIHUB used 16nm chips. The ability was 50kw, with hash charges round 350T. This resolution was capable of reuse waste warmth for single-house heating companies. The SAIHUB 2.0, 2020 – 2021, was a step ahead, adopting 7- 8nm chips, with the facility 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 companies.

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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’ve efficiently run three pilot initiatives of fresh computing knowledge facilities, overlaying greater than 30,000 sq. meters of greenhouses, giant business buildings, and procuring malls for heating.

At this stage, we’re prepared 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 autumn: You simply talked about the partnership with ViaBTC Pool. Might 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 area.

As international warming escalates, the worldwide name for carbon neutrality can also be rising stronger. The mining of PoW-based cryptos like Bitcoin consumes an enormous quantity of fossil power. ViaBTC shares our perception that we must always increase the innovation of fresh power applied sciences to enhance the utilization of fresh power in crypto mining and scale back its environmental affect.

On the identical time, we now have additionally engaged in profound exchanges and cooperation with ViaBTC relating to the SaaS resolution. Sooner or later, we additionally hope to companion up with extra firms within the area of BTC mining that share our beliefs. Collectively, we’ll broaden the blockchain house and speed up the progress of Bitcoin.

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Q5: SAI just lately took a significant step into the tech market by getting listed on Nasdaq; what provides 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 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 area.

Though the price of electrical heating is presently increased than that of fossil power heating, as carbon taxes and numerous insurance policies improve the worth of fossil fuels, it will ultimately change. It’s estimated that the price of utilizing pure fuel to acquire warmth will likely 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 international locations. Most developed international locations, 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 improve of greater than 200% for pure fuel, international locations like the UK should rethink utilizing coal to exchange pure fuel energy era. The contribution worth of fresh power to attain carbon neutrality may require a substantial discount in consumption ranges in accordance with present forecasts, which signifies that within the subsequent twenty-eight years, power effectivity plans reminiscent of these represented by SAIHUB will tackle extra obligations, which is a problem, but in addition a uncommon historic alternative.