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. Recognition of SAI.TECH by institutional and individual investors is certain to create a new paradigm in crypto mining and sustainable energy development. SAI.TECH, following the current industry trend will give new momentum to crypto mining’s sustainable future.
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. The primary goal of crypto mining is to recycle clean and renewable energy. This sector is seeing the rise in projects that are focused on solar power, heat recovery, and hydropower. Some Canadians have begun to use heat from BTC mining for heating greenhouses and fishponds. Slovakia is a tiny European nation that has set up biogas plants in order to generate electricity for BTC mining.
Web 3.0 is not only a blueprint for a free and open world but also requires a lot of energy. Web 3.0 is a network that stores massive amounts of data on blockchains to enable real-time interaction. Web 3.0 demands high-performance computing, with huge power consumption, or supercomputers which can consume tons of energy.
The computing process results in a lot of heat being lost as energy. 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. SAI’s electrifying chip heating reduces the use of fossil fuels in boilers, and eventually achieves its goal to decrease carbon emissions.
This technology allows 90% of heat from mining rigs to be stored and recovered. It powers BTC mining, meets various heating needs, including urban heating and greenhouses.
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. SAI.TECH, the pioneer in publishing carbon footprints and ESG reports for the mining sector, is also supporting the green transition by providing innovative solutions.
BTC.com data shows that ViaBTC Pool’s global BTC hashrate is 21.050 P/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.
Due to the rapid growth of new fields and large-scale energy consumption, energy-oriented providers are increasingly being favored by institutional investors. Many more entities are currently preparing for public offering. More than 10 crypto-related companies have been merged with other entities and made public via SPACs in the last year. These include 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.
SPAC listing is one way crypto companies are trying to be legitimate businesses in global finance. Listing crypto mining firms will encourage traditional financial institutions to pay greater attention to this sector. The interaction and connection between emerging and traditional capital markets will lead to a variety of chemical reactions. These clean energy companies, which are listed worldwide and have received funding from global investors, will be able to apply clean technology in more settings.
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.