SAIHEAT Limited - SAIH STOCK NEWS

SAIHEAT (NASDAQ: SAIH) has announced it will begin accepting Bitcoin payments for its product lineup, including the HEATWIT liquid cooling Advanced Computing Center Ecosystem for Bitcoin mining and AI computing, as well as HEATNUC small modular reactor products and services. This initiative aligns with the company's SAIHEAT BASE Plan 2029, which focuses on redefining energy efficiency for next-generation computing centers. The decision aims to provide increased payment flexibility and facilitate cross-border transactions while supporting the company's vision for sustainable energy infrastructure in the tech industry.

SAIHEAT (NASDAQ: SAIH) has announced its SAIHEAT BASE PLAN 2029, focusing on integrated energy services for next-generation data centers. The plan introduces two core business modules: HEATWIT, providing advanced liquid cooling systems, and HEATNUC, focusing on modular nuclear power development. The company unveiled two initiatives: OpenSMR, an open-source initiative supporting AI-driven data centers with Small Modular Reactor technology, and OrbitBTC, a space-based mining operation utilizing orbital solar energy. SAIHEAT will contribute to these efforts through the Organization of Clean Energy and Climate (OCEC) and release key patents for SMR technology advancement.

SAIHEAT reported unaudited financial results for H1 2024, showing total revenues of US$3.2 million, a 6% increase year-over-year. The company posted a gross margin loss of US$0.1 million and net losses of US$1.9 million, improved from US$3.7 million loss in H1 2023. Key developments include expansion of SAI NODE Marietta facility with 478 Bitmain miners, increasing hash rate by 68 PH/s, and multiple MoUs in the nuclear sector. The company's self-mining efficiency reached 27.3 J/TH, with operational hash rate around 150 PH/s. Cash position stood at US$1.9 million as of June 30, 2024.

SAIHEAT (NASDAQ: SAIH) has released its unaudited Bitcoin operations update for October 2024. The company earned 3.02 BTC through self-mining operations, averaging 0.097 BTC per day. Operating approximately 1,132 bitcoin miners across data centers in the U.S. and Mexico, SAIHEAT maintained a total energized hash rate of 137 PH/s with an average fleet efficiency of 27.3 J/TH. The company's Bitcoin holdings stood at 86.66 BTC, including staked and restricted bitcoins, with no Bitcoin sold during October.

SAIHEAT (NASDAQ: SAIH) has unveiled HEATNUC, an open-source Small Modular Reactor (SMR) system designed specifically for AI computing centers. The system combines nuclear power with waste heat recycling to provide stable, high-capacity energy for AI infrastructure. HEATNUC features a modular design for rapid deployment, minimal staffing requirements, and intelligent monitoring systems. The solution includes an SMR-based base-load energy source, AI campus microgrid, and intelligent energy management system. Key advantages include zero emissions, efficient construction through prefabrication, low operational demands, and sustainable energy recycling. The technology is suitable for deployment in various environments except extreme natural disaster zones.

SAIHEAT (NASDAQ: SAIH) announces its debut at the Supercomputing 2024 (SC24) Conference in Atlanta, showcasing its Advanced Computing Center Ecosystem (ACCE). The company's liquid-cooling system achieves a PUE of 1.05 by capturing up to 97% of wasted computing heat, featuring highly modular design for rapid installation. SAIHEAT will also present its HEATNUC power module, designed for edge computing centers, offering sustainable energy solutions. The exhibition will include demonstrations of cooling solutions, customer success stories, and advancements in liquid-cooling for AI data centers.

SAIHEAT (NASDAQ: SAIH) announces the 2024 BIT HEAT DAY conference, scheduled for November 14, 2024, at their U.S. R&D Center in Marietta, Ohio. Co-hosted with the Organization of Clean Energy and Climate (OCEC), the event will showcase next-generation edge data center infrastructure and ESG benefits of computing heat recycling. The company's R&D Center operates at 3MW capacity, utilizing 100 kW of computing heat to support a 4,608-square-foot greenhouse. During the conference, SAIHEAT will unveil expansion plans and introduce their new A-series product line for AI industry demands.

SAIHEAT (NASDAQ: SAIH, SAITW) has signed a Memorandum of Understanding (MoU) for its HEATNUC products, aiming to enhance product development and marketing in the Middle East nuclear and SMR markets. The MoU, signed with Jiangsu Xuanrui Vibration Damping Equipment Co., , establishes a strategic partnership focusing on hangers and hydraulic dampers for various generations of nuclear power plants.

The collaboration covers joint manufacturing of nuclear and small modular reactor (SMR) equipment, emphasizing competitiveness and market expansion. It also includes knowledge exchange in project management and business practices, as well as joint marketing efforts. HEATNUC and its partners plan to explore international markets through joint ventures, aligning with HEATNUC's goal to strengthen its position in the global nuclear industry.

SAIHEAT (NASDAQ: SAIH, SAITW) has received a notification from Nasdaq on October 2, 2024, regarding non-compliance with the minimum bid price requirement. The company's ordinary shares have closed below $1.00 for 30 consecutive business days, violating Nasdaq Listing Rule 5550(a)(2). SAIHEAT has been granted a 180-day compliance period until March 31, 2025, to regain compliance by maintaining a closing bid price of $1.00 or higher for a minimum of ten consecutive business days.

If compliance is not achieved by March 31, 2025, the company may be eligible for an additional 180-day period. The notification does not currently affect the listing or trading of SAIHEAT's securities on Nasdaq. The company plans to actively monitor its bid price and evaluate options to regain compliance with the continued listing requirements.