Bitcoin blockchain (BTC) transactions and new blogs need a lot of energy to generate them. According to statistics, the Bitcoin transaction consumes more electricity than 1 million visa transfers. In addition, When fossil fuels generate energy for mining, the environmental burden of cryptocurrency increases.
However, SAItech, a Singapore-based bitcoin mining operator, We are looking to recycle the waste energy of the mine for use in agriculture and industry. The company is listed on the NASDAQ Stock Exchange by TradeUp Global Corp. And 228 million Prop Special Purpose Acquisition Company or SPAC. In an exclusive interview with Cointelegraph, SAItech CEO Arthur Lee spoke about the company’s thermal technology, Its effectiveness; Discussed the energy consumption of mining platforms and the path after its SPAC integration:
Cointelegraph: Want to express your cooling and waste heat recovery technology in simple words?
Arthur Lee- UPS is a crypto clean energy mining operator. We provide hosting services with computer energy and heating energy saving solutions. You can take us as a horizontal integrated energy company. We specialize in computer business; Provides services for electrical and heating services. But right now we are focusing on bitcoin mining because we use a lot of energy. We want to find and improve industry-wide solutions; We want to reduce carbon emissions and increase the efficiency of the whole business. Currently We have a cooling system, The heat from the mine can be reused to provide heating services to customers, saving two-phase electricity – one for heating and one for heating. Another one. For computer.
But for now, we can only use it for electricity. After the computer test, we will provide the heating service. Based on this, we released our report on carbon footprint and ESG this year. In our way, We can show that we can save more electricity and reduce our carbon footprint. We have also partnered with a number of non-governmental organizations, such as the United Nations Framework Convention on Climate Change. UN Pledge to Reduce Costs with Net Computing Power in the Digital Property Industry We aim to provide extra customer service not only in Asia but also in Europe and the United States for customers around the world.
CT: How effective is your technology when it comes to reheating? Are there any matrices you can share?
AL: If you use some electric light, we can reuse about 90% to provide heating services. For the whole system It is not just a heating system; It is an integrated system. We have four parts technology. The first is SAIHEAT; We use chip heat. The second is SAIWATT. Hydraulic power; Solar energy We are discovering clean energy sources such as wind power and other clean energy sources. We will be a great battery to solve energy saving and storage problems. Third is SAIBYTE technology. Based on this technology, we offer integrated systems. You know Swimming pools; Use wallets and blockchain browsers.
We combine operations to provide services to customers and suppliers within the sector. The fourth technology we use is SAICHIP; As you know we have good liquid recycling technology and good cooling system, we will work with BITMAIN and other miners to support our refrigeration technology. Mines are more efficient and can increase the efficiency of the whole system. For us, Cooling and heating services are still in their infancy, but reuse them to get a more efficient system.
CT: Why did you choose Eurasian countries like Kazakhstan to set up most of your mining business?
AL: Before the Chinese regulations, most mines around the world knew that they were based in China. They use 20% of the total hash rate in China. According to the rules, North America; Eurasia Jungle