Saiheat Limited Stock Price, News & Analysis

uSmart Securities has updated its coverage of SAIHEAT Limited (NASDAQ: SAIH), reiterating a BUY rating and raising the price target to $31.32 from $25.87. The upgrade is driven by three key factors: SAIHEAT's recent patent approval for SMR control rod drive mechanism, favorable U.S. nuclear policy reforms under President Trump, and increased demand from cryptocurrency and AI infrastructure sectors. The company reported FY2024 revenue of $5.54M, slightly above estimates of $5.45M, with a net loss of $5.89M due to R&D investments. uSmart's analyst highlights SAIHEAT's evolution from a SMR player to a comprehensive computing infrastructure operator, noting its current valuation at 0.3x FY26E P/S is significantly discounted compared to peers like OKLO and NuScale.

SAIHEAT (NASDAQ: SAIH) has achieved a significant milestone with IAEA's official approval as a small modular reactor (SMR) vendor, validating their conceptual design and reactor description. The company's SMR technology features an integral reactor design optimized for safety, efficiency, and compact deployment. The system incorporates multiple safety mechanisms including Emergency Cooldown System, Emergency Reactor Cooling, and multi-layer containment structures. SAIHEAT's SMRs are specifically designed to power digital infrastructure, particularly data centers, with clean nuclear energy. The design emphasizes long operational cycles, minimized radiation exposure, and comprehensive safety features, positioning SAIHEAT for potential global deployment of its nuclear power solutions.

SAIHEAT (NASDAQ: SAIH) has secured a patent for its innovative Control Rod Drive Mechanism designed specifically for Small Modular Pressurized Water Reactors (SMRs). The patented technology features a compact design that enhances core reactivity control in next-generation SMRs, offering improved operational safety and flexibility in nuclear power plants through superior precision and reliability.

This intellectual property advancement positions SAIHEAT as a leader in advanced nuclear core technologies and strengthens its capacity to accelerate SMR industrialization. The company plans to implement this technology across domestic and international markets, supporting the transition to autonomous, sustainable nuclear energy solutions.

SAIHEAT reported its fiscal year 2024 results with total revenues of $5.54 million, showing an 18% decrease from 2023's $6.78 million. The company faced challenges but saw significant growth in mining revenue, which increased 125% year-over-year.

Key financial highlights:

• Net loss improved slightly to $5.89 million from $6.12 million in 2023
• Mining revenue doubled to $2.92 million
• Other income rose 62% to $2.02 million
• Product sales declined 48% to $2.50 million

The company is focusing on three main areas: Bitcoin mining services, Associate Petroleum Gas (APG) solutions, and Small Modular Reactor (SMR) technology. Notable developments include selling 40MW of liquid-cooling containers to Bitdeer and launching HEATNUC, an advanced SMR system for AI computing centers. Despite challenges from the Bitcoin halving event, SAIHEAT maintains its strategy of combining cryptocurrency mining with clean energy solutions.

SAIHEAT (NASDAQ: SAIH) has received initial coverage from uSMART Securities, which initiated with a Buy rating and $25.87 Price Target. The company operates as a computing and energy infrastructure provider, offering bitcoin and AI computing services alongside liquid cooling and modular nuclear power solutions.

SAIHEAT's key operations include BTC mining facilities in U.S. Marietta (106 PH/s) and Mexico's La Pachuca (44 PH/s). The company's innovative solutions include dual product lines for AI data centers (A Series: 30-384kW) and BTC mining (B Series), featuring proprietary liquid cooling technology achieving 97% thermal efficiency.

Financial projections indicate revenue forecasts of $5.45M (2024E), $10.62M (2025E), and $28.15M (2026E), with EBITDA expected to turn positive in 2026E at $1.85M. The valuation is based on FY2025E P/S multiple of 4x, with metrics including FY2026E EV/EBITDA of 23.1x and P/E of 55.2x.

SAIHEAT (NASDAQ: SAIH) has secured a significant contract to provide 40MW of liquid-cooling container solutions to Bitdeer Technologies Group (NASDAQ: BTDR). The containers will be used to host Bitdeer's SEALMINER mining rigs at their new data center.

The delivery is scheduled to begin in April 2025, with complete deployment expected within three months. SAIHEAT anticipates this order will substantially boost its equipment sales business and positively impact its financial performance in 2025.

SAIHEAT (NASDAQ: SAIH) has announced its participation in the 1CP (AEP's Critical Peak) program, aimed at optimizing electricity costs for energy-intensive operations. The program, modeled after AEP Ohio's Basic Transmission Cost Rider pilot program, allows interval-metered customers to have their demand-based BTCR charges calculated based on load during critical peak periods instead of monthly billed demand.

This strategic initiative enables SAIHEAT to potentially reduce operational expenses through more efficient energy pricing structures and strategic power consumption management during peak demand hours, supporting the company's goals in sustainable and cost-effective Bitcoin mining and high-performance computing operations.

SAIHEAT (NASDAQ: SAIH) has announced a 1-for-15 reverse stock split of its ordinary shares, effective March 17, 2025. The measure, approved by shareholders on February 26, 2025, will reduce the company's outstanding shares from approximately 15.8 million to 1.05 million.

The reverse split aims to maintain Nasdaq Capital Market listing compliance by meeting the minimum bid price requirement of $1.00 per share. The company will continue trading under the symbol 'SAIH' with a new CUSIP number G7852T202.

As part of the restructuring, SAIHEAT has amended its Memorandum of Association to adjust the par value of post-split shares to $0.0015 and proportionally reduce authorized shares. Shareholders entitled to fractional shares will have their holdings rounded up to the nearest whole share.

SAIHEAT (NASDAQ: SAIH, SAITW) has announced that shareholders have approved all proposals presented at the extraordinary general meeting (EGM) held virtually on February 26, 2025. The proposals were originally outlined in the Notice of EGM dated February 18, 2025. The meeting took place online at www.virtualshareholdermeeting.com/SAI2025SM.