SINGAPORE – SAIHEAT Limited (NASDAQ:SAIH), a company specializing in integrated energy services for data centers, has announced the purchase of $1.5 million worth of bitcoin, increasing its holdings to approximately 102 bitcoins. The company has embraced a comprehensive HODL strategy, intending to keep the bitcoin mined from its operations as a long-term asset.
The CEO of SAIHEAT, Arthur Lee, emphasized the company’s belief in the enduring value of bitcoin, stating, “We view as the leading reserve asset globally and fully support the concept of sovereign wealth funds holding it.” Lee encourages governments and businesses to consider bitcoin as an essential component of their reserve assets.
SAIHEAT’s investment in bitcoin aligns with its long-term financial strategy, which includes strategic purchases on the open market to bolster its bitcoin reserves. This move further entrenches the company’s position within the digital asset space.
The company, formerly known as SAI.TECH Global Corporation, became publicly traded on the Nasdaq Stock Market in May 2022 following a merger with TradeUP Global Corporation. SAIHEAT’s product offerings include the HEATWIT thermal module, which provides liquid cooling systems for data centers, and the HEATNUC power module, which focuses on the development of global power resources and modular nuclear power joint development.
This announcement is based on a press release statement and contains forward-looking statements that involve risks and uncertainties. These statements are subject to change, and actual results may differ materially due to various factors, including regulatory, competitive, political, and economic conditions. SAIHEAT has disclaimed any obligation to update forward-looking information in the future.
In other recent news, SAIHEAT Limited has made several strategic moves. The company announced its decision to accept Bitcoin as payment for its high-tech energy services, aligning with its BASE Plan 2029 aimed at enhancing energy efficiency and sustainability in data centers. This move is seen as a strategic step towards expanding global transaction capabilities and embracing the growing trend of digital currency transactions.
In addition, SAIHEAT reported its unaudited Bitcoin operations and holdings for October 2024. The company, which operates approximately 1,132 bitcoin miners, earned 3.02 bitcoins through self-mining, with no bitcoins sold in the month. The total Bitcoin holdings stood at 86.66,…
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