SAIHEAT Purchases $1.5 Million of Bitcoin
21 November 2024 - 5:00PM
SAIHEAT Limited (f/k/a SAI.TECH Global Corporation) (“SAIHEAT” or
the “Company”) (NASDAQ: SAIH, SAITW), today announced that it has
purchased $1.5 million of bitcoin and currently holds approximately
102 bitcoins, including staked and restricted bitcoins. SAIHEAT has
committed to a comprehensive HODL strategy for its Bitcoin
holdings, aiming to retain bitcoin mined through its operations as
a long-term asset. In addition, SAIHEAT engages in strategic
purchases on the open market to increase its Bitcoin reserves,
reinforcing its position in the digital asset space while aligning
with its long-term financial goals.
"Our commitment to the HODL strategy is driven by our strong
belief in Bitcoin's enduring value," said Arthur Lee, CEO of
SAIHEAT. "We view Bitcoin as the leading reserve asset globally and
fully support the concept of sovereign wealth funds holding it. We
suggest both governments and businesses to consider Bitcoin as a
key part of their reserve assets."
About SAIHEAT
SAIHEAT Limited (Nasdaq: SAIH) delivers integrated energy
services for next-generation data centers. Its thermal module,
HEATWIT, offers data center liquid cooling system and solutions for
computing heat recycling. The power module, HEATNUC, focuses on
global power resource development and modular nuclear power joint
development.
Formerly known as SAI.TECH Global Corporation, SAIHEAT became a
publicly traded company on the Nasdaq Stock Market (NASDAQ) through
a merger with TradeUP Global Corporation in May 2022. For more
information on SAIHEAT, please visit https://www.saiheat.com
Safe Harbor Statement
This press release may contain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. The words “believe”, “expect”, “anticipate”, “project”,
“targets”, “optimistic”, “confident that”, “continue to”,
“predict”, “intend”, “aim”, “will” or similar expressions are
intended to identify forward-looking statements. All statements
other than statements of historical fact are statements that may be
deemed forward-looking statements. These forward-looking statements
include, but not limited to, statements concerning SAI.TECH and the
Company’s operations, financial performance, and condition are
based on current expectations, beliefs and assumptions which are
subject to change at any time. SAI.TECH cautions that these
statements by their nature involve risks and uncertainties, and
actual results may differ materially depending on a variety of
important factors such as government and stock exchange
regulations, competition, political, economic, and social
conditions around the world including those discussed in SAI.TECH’s
Form 20-F under the headings “Risk Factors”, “Results of
Operations” and “Business Overview” and other reports filed with
the Securities and Exchange Commission from time to time. All
forward-looking statements are applicable only as of the date it is
made and SAI.TECH specifically disclaims any obligation to maintain
or update the forward-looking information, whether of the nature
contained in this release or otherwise, in the future.
Media Contactpr@saiheat.com
Investor Relations Contactir@saiheat.com
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