SAITECH Limited – a crypto mining company that focuses on green energy and hosts mining rigs for its clients – is joining hands with Trade UP Global Corporation, a publicly traded special purpose acquisition firm.
SAITECH Is All Set to Join the Nasdaq
The partnership will allow SAITECH to become publicly traded on the Nasdaq under the symbol “SAI.” The company will not experience any changes in management, and executives will be made holders of Trade UP stock options. They will also possess voting rights of approximately ten votes per share, ensuring they have a say in all future choices made by Trade UP.
Arthur Lee – the founder and CEO of SAITECH – explained in an interview:
This is a key milestone in our journey of becoming Eurasia’s leading bitcoin mining operator focused on lower-impact energy usage and fulfilling our mission of promoting the clean evolution of bitcoin mining. As one of the largest energy-saving bitcoin mining operators in Eurasia, our integrated mining solutions backed by proprietary waste heat recovery technologies are revolutionizing the way that we can provide clean heating to the world. Our scaled mining operations in Eurasia allow us to benefit from key diversification and competitive advantages, such as lower energy and infrastructure costs, as we continue to grow our self-mining bitcoin business. We can also leverage these geographical advantages to provide optimal hosting services to other miners and investors who are expanding their portfolios into digital assets. We believe that this is the right time to partner with Trade UP Global to access the global public markets as institutional adoption of bitcoin continues to progress rapidly, and that we are strongly positioned to capitalize on the development of new blockchain technologies. As we become a publicly traded company, we’ll work even harder and will be more transparent in our approach to creating long-term value for our stakeholders.
Keeping the Same Goals in Line
Jianwei Li – the chairman and co-CEO of Trade UP – also threw his two cents into the ring, saying:
We are extremely thrilled that SAITECH decided to partner with Trade UP Global to go public and are excited to work closely with the team to grow the business. SAITECH is pioneering waste heat recovery technology to bitcoin mining, and the utilization of recovered heat for scaled heating is unprecedented. We believe that SAITECH has truly industrialized the latest technologies that are disruptive to the digital assets industry, and we are confident that the management team can execute on the growth strategies to capture the opportunities present. Moreover, the Company’s value proposition to provide its customers with lower-cost access to more environmentally friendly computing power and help them realize improved return on bitcoin investments aligns with Trade UP’s commitments. We are very pleased to support SAITECH’s transition to the public markets and believe that the company’s proprietary technology of chip waste heat recovery and integrated solutions for cleaner bitcoin mining will truly revolutionize the industry.