SAIHEAT Announces Joining 1CP Program to Optimize Energy Costs for Bitcoin Mining
SINGAPORE, March 27, 2025 (GLOBE NEWSWIRE) -- SAIHEAT Limited (f/k/a SAI.TECH Global Corporation) ("SAIHEAT" or the "Company") (NASDAQ:SAIH, SAITW)), is pleased to announce its participation in the 1CP (AEP's Critical Peak) program, a strategic initiative designed to reduce electricity costs for energy-intensive industries. This initiative aligns with SAIHEAT's mission to enhance operational efficiency and sustainability in the digital asset sector.
The 1CP program is modeled after The AEP Ohio Basic Transmission Cost Rider (BTCR) pilot program, approved by the Public Utilities Commission of Ohio (PUCO) as part of Electric Security Plan V (ESP V). This program enables select interval-metered customers to have their demand-based BTCR charges calculated based on their load during AEP's critical peak (1CP) instead of their monthly billed demand. By shifting demand-based charges to critical peak periods, qualified participants can optimize energy costs and improve overall profitability.
By joining the 1CP program, SAIHEAT could gain access to a more cost-efficient energy pricing structure, allowing the company to strategically manage its power consumption during peak demand hours. This initiative is expected to lower operational expenses and further enhance SAIHEAT's position as an industry leader in sustainable, cost-effective mining and high-performance computing.
About SAIHEAT
SAIHEAT Limited (NASDAQ:SAIH) is a computing and energy operator dedicated to accelerating the realization of Sustainable Augmented Intelligence. Its computing division offers BTC joint computing power and AI cloud computing services, while its energy division provides liquid-cooled computing centers and small modular nuclear products.
Formerly known as SAI.TECH Global Corporation, SAIHEAT became a publicly traded company on the Nasdaq Stock Market (NASDAQ) through a merger with TradeUP Global Corporation in May 2022. For more information on SAIHEAT, please visit https://www.saiheat.com
Safe Harbor Statement
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "believe", "expect", "anticipate", "project", "targets", "optimistic", "confident that", "continue to", "predict", "intend", "aim", "will" or similar expressions are intended to identify forward-looking statements. All statements other than statements of historical fact are statements that may be deemed forward-looking statements. These forward-looking statements include, but not limited to, statements concerning SAIHEAT and the Company's operations, financial performance, and condition are based on current expectations, beliefs and assumptions which are subject to change at any time. SAIHEAT cautions that these statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors such as government and stock exchange regulations, competition, political, economic, and social conditions around the world including those discussed in SAIHEAT's Form 20-F under the headings "Risk Factors", "Results of Operations" and "Business Overview" and other reports filed with the Securities and Exchange Commission from time to time. All forward-looking statements are applicable only as of the date it is made and SAIHEAT specifically disclaims any obligation to maintain or update the forward-looking information, whether of the nature contained in this release or otherwise, in the future.
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