Reiterates BUY Rating and Raises Price Target to $31.32 Following SMR Breakthrough and Favorable Policy DevelopmentsSINGAPORE, June 12, 2025 (GLOBE NEWSWIRE) -- SAIHEAT Limited (“SAIHEAT” or the “Company”) (NASDAQ: SAIH, SAITW), today announces that uSmart Securities has updated its coverage of the Company, reaffirming its BUY rating on SAIHEAT and raising the 12-month price target to $31.32, up from $25.87. This revision reflects significant advancements in the Company’s nuclear technology, supportive U.S. ...

SINGAPORE, June 02, 2025 (GLOBE NEWSWIRE) -- SAIHEAT Limited (“SAIHEAT” or the “Company”) (NASDAQ: SAIH, SAITW), is pleased to announce that the International Atomic Energy Agency (“IAEA”) has officially approved SAIHEAT as a vendor of small modular reactors (“SMRs”), endorsing the conceptual design and reactor description submitted by the Company. This approval marks a significant advancement in SAIHEAT’s SMRs business line and is based on an innovative reactor plant design rooted in decades of proven expe ...

SINGAPORE, April 28, 2025 (GLOBE NEWSWIRE) -- SAIHEAT Limited (“SAIHEAT” or the “Company”) (NASDAQ: SAIH), today reported audited financial results for the fiscal year ended December 31, 2024. Financial Highlights for the Year Ended December 31, 2024 Total revenues were US$5.54 million, representing a decrease of 18% compared to US$6.78 million in 2023 primarily due to revenue decreases across business segments of sales of products, hosting service and mining pool, which was partially offset by 125% revenue ...

Business Model and Operations - The company began its bitcoin mining operations in late 2021, indicating a transition in its business model[32] - The company has deployed 734 bitcoin mining machines for mining revenue as of the date of the Annual Report, indicating ongoing operational efforts[55] - The company relies heavily on a small number of suppliers for crypto asset mining equipment, which can lead to supply shortages and increased costs if demand outpaces supply[47] - The costs associated with constructing and maintaining mining and hosting facilities are substantial, and the company may face challenges in obtaining necessary capital for expansion[48] - The company must continuously evaluate its data center capacity requirements to avoid excess capacity costs while meeting customer demand[55] - Significant competition for suitable cryptocurrency mining sites may restrict the company's operations[41] - The company plans to mine only Bitcoin, making its future success heavily reliant on Bitcoin's value, which has historically been volatile[162] Financial Performance and Risks - The company experienced net losses of $8.8 million, $6.1 million, and $5.9 million for the fiscal years ended December 31, 2022, 2023, and 2024, respectively, with an accumulated deficit of $37.2 million as of December 31, 2024[61] - The company faces risks related to fluctuating bitcoin prices, which can significantly impact financial performance[34] - Any decrease in the fair value of Bitcoin below the carrying value will necessitate an impairment charge, which could materially affect financial results[168] - A decline in bitcoin prices may lead professionalized mining operations to sell mined bitcoin more quickly, increasing trading volume and exerting downward pressure on market prices[182] - The profit margin of a mining operation is determined by the value of bitcoin mined exceeding capital and operating costs; low profit margins may force operations to sell bitcoin rapidly, further depressing prices[183] Regulatory Environment - Regulatory changes may require the company to register as a money service business, potentially incurring substantial compliance costs[28] - The company is subject to a rapidly evolving regulatory landscape, and failure to comply with laws could result in significant fines and operational limitations[115] - Future regulatory developments may require the company to cease certain operations or alter its business model, potentially affecting its ability to continue as a going concern[113] - The SEC's interpretation of cryptocurrencies as securities could lead to significant compliance costs and operational restrictions for the company[97] - The company may need to register with the SEC as an investment company if it fails to qualify for an exemption, which would incur substantial additional expenses and materially affect operations[96] - Regulatory uncertainties regarding the classification of cryptocurrencies as securities could lead to significant operational changes or losses[93] - The lack of a unified regulatory framework for cryptocurrencies creates uncertainty that could impact the company's operations and compliance efforts[103] Market and Competitive Landscape - The company operates in a highly competitive cryptocurrency market, facing competition from both regulated and unregulated entities with greater resources[78] - Competition from central bank digital currencies (CBDCs) could decrease the value of bitcoin and other cryptocurrencies, impacting the company's financial condition[112] - The demand for bitcoin is influenced by its status as a secure crypto asset, but competition from other cryptocurrencies could negatively impact bitcoin's price and market share[186] - The emergence of competing blockchain platforms may cause consumers to shift to alternative distributed ledgers, negatively impacting business operations and anticipated profits[150] Technological and Operational Challenges - The company is exposed to risks related to price fluctuations and shortages of critical components, such as ASIC chips, which are essential for mining operations[64] - The Bitcoin mining industry is characterized by rapid technological changes, and failure to adapt could adversely affect the company's competitive position[179] - Professionalized mining operations require significant capital investment, including hardware acquisition and operational costs, to maintain profit margins on bitcoin sales[181] - The company relies on ASIC mining machines specifically for Bitcoin, and any technological issues could disrupt operations and harm its reputation[177] Security and Compliance Risks - Cybersecurity breaches and adverse software events pose risks to the storage and custody of bitcoin and other cryptocurrencies[125] - The company may become a more appealing target for hackers as its cryptocurrency holdings increase, exposing it to potential security threats[132] - Any violation of applicable laws could result in severe penalties, investigations, and a diversion of management's attention and resources[120] - Compliance risks related to transactions with individuals on the OFAC SDN list may increase operational costs and decrease anticipated transaction fees, adversely affecting business operations[159] External Factors and Economic Conditions - Geopolitical events may lead to rapid price increases in cryptocurrencies, followed by potential downturns, creating volatility that could adversely affect inventory value[158] - Political events and social unrest in countries where the company operates could significantly affect its business and operations[193] - Inflationary pressures in Asian economies may lead to government actions that could adversely affect profitability and operational costs[198] - Weak corporate governance standards in some regions may expose the company to unfavorable business practices and operational risks[201] Future Outlook and Strategic Considerations - Significant growth in operations is expected, but the company may struggle to manage its hosting capacity and operational controls effectively[73] - Rapid business growth may strain managerial, operational, and financial resources, potentially impacting financial condition and operating results[74] - Future acquisitions or joint ventures may dilute shareholder ownership and increase debt, posing risks to financial condition and operating results[80] - The company faces challenges in attracting and retaining qualified management personnel, which could adversely affect its business and growth prospects[72]

Company Overview - SAIHEAT Limited is a computing and energy operator focused on accelerating Sustainable Augmented Intelligence, offering bitcoin and AI cloud computing services alongside liquid-cooled computing centers and small modular nuclear products [5][6] - The company has been covered by uSMART Securities, which launched an initial equity research report on March 26, 2025 [1] Industry Position - SAIHEAT is positioned as a hybrid computing provider and energy infrastructure player, capitalizing on the growing demand for AI and bitcoin computing services [2] - The company has established a customer base of small and medium-scale computing clients across Southeast Asia and North America, enhancing its competitive position in the computing infrastructure upgrade cycle [2] Technological Innovations - SAIHEAT's dual product line strategy includes A Series products for AI data centers and B Series products for bitcoin mining, integrating liquid cooling technology and heat recovery [2] - The company has developed a three-tier thermal system achieving 97% thermal efficiency, optimizing power usage effectiveness to 1.05 [2] Market Potential - Hyperscale cloud providers' capital expenditures are projected to reach $336 billion by 2025, representing a 32% year-on-year increase, positioning SAIHEAT to benefit from AI infrastructure expansion [2] - The company anticipates significant revenue growth, projecting revenues of $5.45 million, $10.62 million, and $28.15 million for financial years 2024E, 2025E, and 2026E respectively [3] Financial Outlook - SAIHEAT's valuation is based on a financial year 2025E price-to-sales multiple of 4 times, with a price target of $25.87 [2][3] - The company is expected to achieve positive EBITDA in financial year 2026E, with projections of negative $4.67 million and negative $0.19 million in 2024E and 2025E respectively [3]

Group 1 - SAIHEAT Limited has joined the 1CP program, aimed at reducing electricity costs for energy-intensive industries, aligning with its mission for operational efficiency and sustainability in the digital asset sector [1][3] - The 1CP program allows select customers to have demand-based charges calculated based on their load during critical peak periods, optimizing energy costs and improving profitability [2] - Participation in the 1CP program is expected to lower operational expenses for SAIHEAT, enhancing its position as a leader in sustainable and cost-effective mining and high-performance computing [3] Group 2 - SAIHEAT Limited operates in computing and energy sectors, providing BTC joint computing power, AI cloud computing services, liquid-cooled computing centers, and small modular nuclear products [4] - The company was formerly known as SAI.TECH Global Corporation and became publicly traded on Nasdaq through a merger in May 2022 [5]

Core Viewpoint - SAIHEAT Limited has announced a reverse stock split of its ordinary shares at a ratio of 1-for-15, aimed at complying with Nasdaq's minimum bid price requirement [1][4]. Group 1: Reverse Stock Split Details - The reverse stock split will reduce the total number of outstanding ordinary shares from approximately 15.8 million to about 1.05 million [2]. - The effective date for the reverse stock split is set for March 17, 2025, with shares trading under the existing ticker symbol "SAIH" [1]. - No fractional shares will be issued; entitlements to fractional shares will be rounded up to the nearest whole share [5]. Group 2: Corporate Actions - In conjunction with the reverse stock split, the Company amended its Memorandum of Association to proportionately reduce the number of authorized shares and adjust the par value of the post-split shares to $0.0015 each [3]. - The reverse stock split is part of the Company's strategy to maintain compliance with Nasdaq's listing standards, which require a minimum bid price of at least $1.00 per share [4]. Group 3: Company Overview - SAIHEAT Limited provides integrated energy services for next-generation data centers, focusing on thermal and power modules for cooling and power resource development [6]. - The Company was previously known as SAI.TECH Global Corporation and became publicly traded on Nasdaq through a merger in May 2022 [7].

Group 1 - SAIHEAT Limited, formerly known as SAI.TECH Global Corporation, announced the adoption of all shareholder proposals at its extraordinary general meeting held on February 26, 2025 [1][3] - The company provides integrated energy services specifically for next-generation data centers, focusing on thermal and power modules [2][3] Group 2 - SAIHEAT's thermal module, HEATWIT, offers solutions for data center liquid cooling and computing heat recycling [2] - The power module, HEATNUC, is aimed at global power resource development and modular nuclear power joint development [2]

Company Overview - SAIHEAT Limited, formerly known as SAI.TECH Global Corporation, provides integrated energy services for next-generation data centers, focusing on thermal and power modules [3][4] - The thermal module, HEATWIT, offers liquid cooling systems and solutions for computing heat recycling, while the power module, HEATNUC, is aimed at global power resource development and modular nuclear power joint development [3] Extraordinary General Meeting (EGM) - SAIHEAT will hold an extraordinary general meeting of shareholders virtually on February 26, 2025, at 10:00 a.m. Eastern Standard Time to consider proposals set forth in the Notice of EGM [1] - The board of directors fully supports the proposals and recommends shareholders vote in favor [2] - Shareholders holding ordinary shares as of February 11, 2025, are entitled to attend and vote at the EGM [2]

Company Overview - SAIHEAT Limited, formerly known as SAI.TECH Global Corporation, is publicly traded on NASDAQ and focuses on integrated energy services for next-generation data centers [7][8] - The company offers thermal modules for data center liquid cooling and solutions for computing heat recycling, as well as a power module that emphasizes global power resource development and modular nuclear power joint development [7] Leadership Appointment - Alexandre Nakata Ezzidi has been appointed as the Nuclear Energy Strategy Consultant, tasked with assessing opportunities to expand SAIHEAT's small modular reactor market presence both in Asia and internationally [1] Expertise of the Consultant - Alex Nakata Ezzidi brings over 40 years of experience in nuclear energy system safety, specializing in severe accident analysis for various water reactor designs [2][3] - His previous roles include Executive Research Fellow at The Institute of Applied Energy and Technical Leader at AREVA-NP, where he led severe accident analysis for major projects [3][4] Strategic Focus - At SAIHEAT, Ezzidi provides strategic guidance on both technical and financial aspects, evaluates global industry trends, and establishes partnerships with international experts [5] - He plays a crucial role in expanding SAIHEAT's international presence by fostering relationships with key foreign organizations [5] Industry Context - Ezzidi emphasizes the importance of nuclear energy in achieving global carbon neutrality goals by 2050, highlighting that fossil fuels currently account for 82-83% of global energy production while nuclear energy represents about 10% [6]