SAIHEAT Ltd
For the period ended Nov 13, 2024. Filed Nov 13, 2024.
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Nov 13, 2024 · Filed Nov 13, 2024
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Contents
EX-99.1 · Recent Developments
Recent Developments
On-site Project Development Update in the U.S.
| ● | We expanded our SAI NODE Marietta facility, initiated a scale-up that began in December 2023. This expansion included the strategic addition of 478 Bitmain bitcoin mining machines, increasing our hash rate capacity by approximately 68 PH/s. With this deployment, we now have around 150 PH/s operational hash rate for our self-mining operations, achieving a self-mining efficiency of approximately 27.3 J/TH. |
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| We signed a Memorandum of Understanding (MoU) with Idaho Competitive Aquatics, LLC in August 2024 to develop a model case of our Advanced Computing Center Ecosystem (ACCE), which is to utilize recycled computing heat as a replacement of nature gas heaters at the aquatic center. Upon the completion of the project, the new ACCE system is expected to eliminate CO2 emission from original nature gas heating by up to 96,000 pounds per month and lowering facility heating costs by over 40% immediately. | |
| We announced our latest All-in-One ACCE products, RACKCAB and HYDROCAB, which integrate server hosting system, CDU system and computing heat capture/recycling system into one standard cabinet. Our All-in-One ACCE product is developed as a low-cost and easy-to-install system for computing heat recycling. Both products are currently deployed and under installation at our customer. |
Presence at In-Person Event
| ● | We participated in the 2024 SelectUSA Investment Summit in June. This prestigious event connects investors, companies, and industry experts, serving as a crucial platform for fostering business investment. Dr. Tao Wu showcased our groundbreaking initiatives, including our Computing Heat Recycling R&D Center in Marietta, Ohio, which features the innovative Advanced Computing Center Ecosystem (ACCE). Our participation underscores our commitment to introducing sustainable technology solutions to the U.S. market and advancing our strategic plan. |
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Community and Partnership Engagement
| ● | Our sponsored Computing Heat Recycle Center Education Program received a grant from the Marietta Community Foundation in May 2024 to support our continuing joint efforts to provide innovative learning opportunities for students while addressing food insecurity through produce grown in our computing heat recycling greenhouse. |
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| ● | We signed a Memorandum of Understanding with Al-Farabi Kazakh National University in June 2024, to advance educational initiatives and scientific research in Kazakhstan, focusing on joint programs and research projects that leverage our expertise in AI computing and sustainable energy solutions. |
HEATNUC Business Line Update
| ● | We signed two Memorandums of Understanding (MoUs) in July 2024, aimed at enhancing cooperation within the small modular reactor (SMR) industry. |
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| ● | We appointed François Morin as our Nuclear Energy Strategy Consultant in July 2024, bringing his vast experience from roles such as Director at the World Nuclear Association. Mr. Morin will focus on evaluating the company’s expansion into the small modular reactor market, particularly in Asia and globally. His expertise will be instrumental in supporting our innovation and growth in the nuclear energy sector. |
| ● | In August 2024, we became a member of the World Nuclear Association (WNA). As part of our membership, we participated in the World Nuclear Symposium 2024 held in September 2024. |
| ● | In September 2024, we signed two MoUs that further solidify our position in the Middle Eastern nuclear and SMR markets. One MoU with Jiangsu Shentong Nuclear Equipment focuses on exporting control systems for nuclear power, and another with Shanghai Kaiquan Pump emphasizes joint production of nuclear and SMR equipment. |
| ● | We signed two additional MoUs in October 2024, targeting further cooperation in the nuclear and SMR sectors. The MoU with Kinze Nuclear Innovation focuses on nuclear technology consulting and digitalization services, while the one with Jiangsu Jintonglingguang Nuclear Energy Technology aims to enhance the production of nuclear equipment. |
| ● | In October 2024, we signed an MoU with Jiangsu Xuanrui Vibration Damping Equipment Co., focusing on product development and marketing in the large-scale nuclear power sector. This collaboration is set to enhance joint manufacturing and market expansion initiatives. |
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