SAI.TECH Announces Purchasing of 420 Whatsminer Bitcoin Mining Machines
February 10 2023 - 9:21AM
SAI.TECH Global Corporation ("SAI.TECH" OR "SAI," NASDAQ: SAI), a
global energy-saving bitcoin mining operator and a clean-tech
company that integrates bitcoin mining, heating, and power
industries, today announced that its subsidiary has entered into a
purchase order of 420 Whatsminer M30s++ bitcoin mining machines 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
approximately $14.50 per terahash for self-mining utility. All
these 420 mining machines were received by the company during the
first week of February.
After the full deployment of the 420 Whatsminer
M30s++ miners, SAI.TECH estimates its total operational hash rate
capacity will increase by 43.68 PH/s but will only load
approximately 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
major progress of our bitcoin mining business but also our first
step of expansion in 2023,” said Arthur Lee, Founder and CEO of
SAI.TECH, “As the bitcoin market still stands in its bear market,
expanding bitcoin mining hash rate at a low market price is an
optimal decision for the company with favourable liquidity. We are
pleased to finalize this purchase order for energy-efficient miners
at a reasonable price. This strategic deployment also gives us
confidence in confirmedly supporting bitcoin mining operations with
superior advantages through the entire 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
asset mining machines, utilizing waste heat to provide recycled
energy and heating to potential customers while lowering mining
operating costs. SAI.TECH strives to become the most cost-efficient
digital asset mining operations company globally while
simultaneously promoting the clean transition of the bitcoin
mining, power, and heating industries.
In May 2022, SAI became a publicly trading company
under the new ticker symbol “SAI” on the Nasdaq Stock Market
(NASDAQ) through a merger with TradeUP Global Corporation
("TradeUP").
For more information on SAI.TECH, please visit
https://sai.tech/.
Media Contact
pr@sai.tech
Investor Relations Contact
ir@sai.tech
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