It takes a lot of energy for miners to validate transactions and create new blocks on the Bitcoin (BTC) blockchain. According to Statistica, a single Bitcoin transaction uses as much power as over a million Visa transactions. In addition, the environmental impact of cryptocurrency increases even more if the energy used in mining comes from fossil fuels.

But SAITech, a Eurasian Bitcoin miner headquartered in Singapore, aims to recycle waste energy from mining for use in residential, agricultural and industrial applications. The company is also undergoing a $ 228 million Special Purposes (SPAC) merger with TradeUP Global Corp. to list their shares on Nasdaq. In an exclusive interview with Cointelegraph, SAITech CEO Arthur Lee talked about the company’s heat recovery technology, its efficiency, energy use in mining facilities and the way forward after the SPAC merger:

Cointelegraph: Can you describe the technology of liquid cooling and waste heat recovery in a simple way?

Arthur Lee: SAI is a pure energy company. We offer hosting services with leading energy-saving solutions for computing power and heating. You can think of us as a horizontally integrated clean energy company; We provide services to the computer, electrical and heating industries. But for now, we focus mainly on the bitcoin mining industry because it uses a lot of energy; We want to find and improve solutions for the entire industry, reduce carbon emissions and improve efficiency throughout the industry. At the moment we only supply a liquid cooling system, we say that we recycle heat from miners and provide heating services to our customers, while we can only supply electricity for two parts: one for heating and one for heating for data processing.

But at the moment we can only use part of the electricity, and after completing the calculation test we will provide heat service. That is why this year we have published our ESG Carbon Footprint Report. With our method, we can prove that we can save more electricity and reduce carbon emissions. We have also joined many voluntary organizations such as the UN Framework for Climate Change. We have signed a UN promise to reduce costs by harnessing the power of pure computing in the digital resource industry. We strive to offer more services to global customers, not only in Asia, but also in Europe and America.

CT: How efficient is your technology in heat recovery? Are there any calculations you can share?

A.L .: I can simplify this, because you use only one part of the electricity, and we can reuse about 90% of it to provide heating services. When it comes to the whole system, it is an integrated system, not just a heating system; We have four pieces of technology. The first is SAIHEAT, we use the heat from the chip. The other is sounds. We find several clean energy sources such as hydropower, solar energy, wind power and other clean energy sources. We want to be the best battery for them to solve the problem of energy saving and energy storage. The third is SAIBYTE technology. Based on this technology, we offer integrated systems; As you know, mining pool, wallet and browser are blockchain.

We have gathered the functions together and provided services to customers and industrial suppliers. The fourth technology we will use is SAICHIP, you know we have the best liquid technology that can recycle heat and the best cooling system, so we cooperate with manufacturers like BITMAIN and other miners, we will introduce our technology for liquid cooling, to make miners more effectively, we can improve the efficiency of the system as a whole. For us, liquid cooling and heating services are just the beginning, but we will reuse them and have a more efficient system.

Source: CoinTelegraph