SAI.TECH Announces the Signing of an MOU with Green Agritech for Canada Manitoba Site Project

SINGAPORE, April 29, 2024 (GLOBE NEWSWIRE) -- SAI.TECH Global Corporation (“SAI.TECH” or “SAI” or the “Company”) (NASDAQ: SAI, SAITW), announces the signing of a Memorandum of Understanding (MoU) with Green Agritech Ltd. regarding the Company’s Canada Manitoba Site Project (Project) and the intention of establishing a Joint Venture (JV) for the future cooperation.

The Project is a 1MW computing data center. It will be implemented through cooperation – between SAI.TECH and Green Agritech Ltd., an innovative crypto mining company. With SAI’s unique computing waste heat recovery technology, the heat generated from the computing data center will be recycled and supplied to onsite office and warehouse, and a later constructed greenhouse.

The Project also officially marks the Company’s entry into the Canadian market of sustainable computing demonstrated by the nature of computing waste heat recycling. Through this project, the Company expects to certify its products for the Canadian market and be ready for its product sale and operation in Canada.

This center will soon be developed as SAI NODE Manitoba, similar to SAI NODE Marietta and SAI NODE Cleveland. Additionally, SAI will partner with the non-profit organization OCEC to build and develop this SAI NODE facility.

Revenues and benefits from the Project will be distributed proportionately based on each party’s investment. Similarly, all associated costs will be shared in line with their respective contributions to the project.

Furthermore, SAI will be responsible for securing miners for the proposed 1MW data center. A separate hosting agreement will be entered into with the JV. On the other hand, the JV will oversee the collection of rent and heat supply charges from the greenhouse operating entities.

About SAI.TECH

SAI.TECH is a Nasdaq-listed (SAI) sustainable distributed bitcoin mining operator headquartered in Singapore. SAI’s mission is to become a sustainable distributed digital asset mining operator and heating supplier globally, while simultaneously promote the clean transition of the bitcoin mining, power and heating industries.

In May 2022, SAI became a publicly traded company under the new ticker symbol “SAI” on the Nasdaq Stock Market (NASDAQ) through a merger with TradeUP Global Corporation. For more information on SAI.TECH, please visit https://sai.tech/.

About Green Agritech

Green Agritech Ltd. is an innovative crypto mining company that combines the cutting-edge world of cryptocurrency mining with a strong commitment to environmental sustainability and greenhouse agriculture. They have harnessed the power of renewable energy sources to revolutionize the cryptocurrency mining industry while simultaneously cultivating lush and efficient greenhouse environments for sustainable food production.