SINGAPORE, Feb. 10, 2023 (GLOBE NEWSWIRE) — SAI.TECH Global Corporation (“SAI.TECH” OR “SAI,” NASDAQ: SAI ), a global energy-saving bitcoin mining operator and clean-tech company that integrates bitcoin mining, heat – and power industry, announced today that its subsidiary has entered into a purchase order for 420 Whatsminer M30s++ bitcoin miners for $633,360.
Sustainable Available Innovative Limited, a British Virgin Islands company, a subsidiary indirectly owned by SAI.TECH Global Corporation, has entered into a purchase order with Cloud Ridge Technology Limited (the “Purchase Order”) to purchase 420 Whatsminer M30s++ bitcoin mining machines for $633,360. or about $14.50 per terahash for self-mining tools. All of these 420 mining machines were received by the company during the first week of February.
After the full deployment of 420 Whatsminer M30s++ miners, SAI.TECH estimates that its total operational hash rate capacity will increase by 43.68 PH/s, but will only load about 1.35 MW of power thanks to the machines’ extraordinary power efficiency of 31W/T.
“The deployment of these 420 miners is not only a big step forward in our bitcoin mining business, but also our first expansion step in 2023,” said Arthur Lee, founder and CEO of SAI.TECH, “As the bitcoin market is still in its bear market , expanding the bitcoin mining hash rate at a low market price is an optimal decision for the company with favorable liquidity. We are happy to complete this purchase order for energy efficient miners at a reasonable price. This strategic deployment also gives us the confidence to confirm to support bitcoin- mining with superior benefits throughout the bitcoin mining cycle.”
About SAI.TECH
SAI.TECH is an energy-saving bitcoin mining operator and a clean-tech company that integrates the bitcoin mining, power and heating industries. SAI.TECH uses proprietary liquid cooling and waste heat recovery technology for its digital mining machines, using waste heat to provide recycled energy and heating to potential customers while reducing mining operating costs. SAI.TECH strives to become the most cost-effective digital asset mining company globally, while promoting the clean transition of the bitcoin mining, power and heating industries.
In May 2022, SAI became a publicly traded company under the new ticker symbol “SAI” on the Nasdaq Stock Market (NASDAQ) through a merger with TradeUP Global Corporation (“TradeUP”).
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