SAIHEAT Limited (SAIH) 20-F 19 Apr 23 2022 FY Annual report (foreign) Financial data

Document And Entity Information

Document And Entity Information	12 Months Ended
	Dec. 31, 2022 shares
Document Information Line Items
Entity Registrant Name	SAI.TECH GLOBAL CORPORATION
Trading Symbol	SAI
Document Type	20-F
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding	13,315,903
Amendment Flag	false
Entity Central Index Key	0001847075
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Non-accelerated Filer
Entity Well-known Seasoned Issuer	No
Document Period End Date	Dec. 31, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Entity Emerging Growth Company	true
Entity Shell Company	false
Entity Ex Transition Period	false
ICFR Auditor Attestation Flag	false
Document Registration Statement	false
Document Annual Report	true
Document Transition Report	false
Document Shell Company Report	false
Entity File Number	001-40368
Entity Incorporation, State or Country Code	E9
Entity Address, Address Line One	#01-05 Pearl’s Hill Terrace
Entity Address, City or Town	Singapore
Entity Address, Country	SG
Entity Address, Postal Zip Code	168976
Contact Personnel Name	Ian Zou
Title of 12(b) Security	Ordinary Shares, par value $0.0001per share
Security Exchange Name	NASDAQ
Entity Interactive Data Current	Yes
Document Accounting Standard	U.S. GAAP
Auditor Name	Audit Alliance LLP
Auditor Location	Singapore
Auditor Firm ID	3487
Business Contact
Document Information Line Items
Entity Address, Address Line One	#01-05 Pearl’s Hill Terrace
Entity Address, City or Town	Singapore
Entity Address, Country	SG
Entity Address, Postal Zip Code	168976
Contact Personnel Name	Ian Zou
City Area Code	65
Local Phone Number	9656 5641

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands		Dec. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents		$ 11,215	$ 4,477
Accounts receivable		1,541	1,174
Inventories		152	198
Cryptocurrencies		50	83
Stablecoin assets		4,612
Deposits, prepayments and other current assets, net		1,121	948
Total current assets		18,691	6,880
Property and equipment, net		1,872	4,345
Intangible assets, net		94	265
Operating lease right-of-use assets, net		443	43
Total assets		21,100	11,533
Current liabilities:
Accounts payable		165	1,261
Operating lease liabilities-current		188	17
Advance from customers			62
Accrued and other liabilities		159	25
Income tax payable			1
Other payable and accrued liabilities		43	30
Total current liabilities		555	1,396
Operating lease liabilities-non-current		231	27
Total Liabilities		786	1,423
Commitments and contingencies – Note 12
Mezzanine equities			12,473
Shareholders’ equity:
Subscription receivable			(9)
Additional paid-in capital		46,030	13,974
Accumulated deficit		(25,257)	(16,412)
Accumulated other comprehensive income/(loss)		(461)	83
Total shareholders’ equity		20,314	(2,363)
Total Liabilities and shareholders’ equity		21,100	11,533
Class A Ordinary Shares
Shareholders’ equity:
Ordinary shares value	[1]	1
Class B Ordinary Shares
Shareholders’ equity:
Ordinary shares value	[1]	$ 1	$ 1
[1]The shares and per share data are presented on a retroactive basis to reflect the reorganization.

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - $ / shares	Dec. 31, 2022	Dec. 31, 2021
Class A Ordinary Shares
Ordinary shares, par value (in Dollars per share)	$ 0.0001	$ 0.0001
Ordinary shares, shares authorized	330,369,366	330,369,366
Ordinary shares, shares issued	13,315,903	13,315,903
Ordinary shares, shares outstanding	2,544,148	2,544,148
Class B Ordinary Shares
Ordinary shares, par value (in Dollars per share)	$ 0.0001	$ 0.0001
Ordinary shares, shares authorized	9,630,634	9,630,634
Ordinary shares, shares outstanding	9,630,634	9,630,634

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive (Loss)/Income - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Statement [Abstract]
Revenues		$ 10,638	$ 17,038	$ 1,957
Cost of revenues		9,498	15,774	1,055
Gross Profit		1,140	1,264	902
Sales and marketing expenses		1,098	14,779	1
General and administrative expenses		6,080	2,383	231
Research and development expenses		476	419	348
Impairment of long-lived assets		951	135	40
Total operating expenses		8,605	17,716	620
Profit/(Loss) from operations		(7,465)	(16,452)	282
Other income/(expense), net		(1,380)	(228)	174
Profit/(Loss) before income tax		(8,845)	(16,680)	456
Income tax benefit(expenses)			(24)	(53)
Net profit/(loss)		(8,845)	(16,704)	403
Other comprehensive loss
Foreign currency translation gain/(loss)		(544)	57	28
Total comprehensive income/(loss)		$ (9,389)	$ (16,647)	$ 431
Gain/(Loss) per ordinary share*
Basic and diluted (in Dollars per share)	[1]	$ (0.4601)	$ (1.4274)
Weighted average number of ordinary shares outstanding*:
Basic & Diluted (in Shares)	[1],[2]	19,224,614	12,447,760	12,447,760
[1]The shares and per share data are presented on a retroactive basis to reflect the reorganization.[2]The ordinary shares are presented on a retroactive basis to reflect the Company’s share consolidation on April 29, 2022

Consolidated Statements of Op_2

Consolidated Statements of Operations and Comprehensive (Loss)/Income (Parentheticals) - $ / shares		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Statement [Abstract]
Basic and diluted	[1]	$ (0.4601)	$ (1.4274)
Basic & Diluted	[1],[2]	19,224,614	12,447,760	12,447,760
[1]The shares and per share data are presented on a retroactive basis to reflect the reorganization.[2]The ordinary shares are presented on a retroactive basis to reflect the Company’s share consolidation on April 29, 2022

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders’ Equity/(Deficit) - USD ($) $ in Thousands	Class A Ordinary Shares	Class B Ordinary Shares	Series Seed Preferred Shares	Subscription Receivable	Additional Paid-in Capital	Statutory Reserves	(Accumulated Deficit)/ Retained Earnings	Accumulated Other Comprehensive Loss	Total
Balance at Dec. 31, 2020		$ 1		$ (9)	$ 156	$ 33	$ 292	$ 23	$ 496
Balance (in Shares) at Dec. 31, 2020	2,544,148	9,630,634	272,978
Net loss							(16,704)		(16,704)
Accretion to mezzanine equities					(1,064)				(1,064)
Share-based compensation expense					14,457				14,457
Disposal of an subsidiary					425	(33)			392
Foreign currency translation adjustment								60	60
Balance at Dec. 31, 2021		$ 1		(9)	13,974		(16,412)	83	(2,363)
Balance (in Shares) at Dec. 31, 2021	2,544,148	9,630,634	272,978
Net loss							(8,845)		(8,845)
Share-based compensation expense					1,060				1,060
Share-based compensation expense (in Shares)	382,250
Reverse recapitalization				9	18,524				18,533
Reverse recapitalization (in Shares)	4,965,379
Conversion into ordinary shares	$ 1				12,472				12,473
Conversion into ordinary shares (in Shares)	5,424,126		(272,978)
Foreign currency translation adjustment								(544)	(544)
Balance at Dec. 31, 2022	$ 1	$ 1			$ 46,030		$ (25,257)	$ (461)	$ 20,314
Balance (in Shares) at Dec. 31, 2022	13,315,903	9,630,634

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities
Net income/(loss)	$ (8,845)	$ (16,704)	$ 403
Adjustments to reconcile net income to net cash used in operating activities
Depreciation and amortization	1,662	309	83
Deferred tax		12	19
Bad debt provision			5
Impairment of long-lived assets	887	135	40
Impairment on intangible assets	64
Loss on disposal of property and equipment	718
Share-based payment	1,060	14,457
Disposal of construction in progress		228
Changes in operating assets and liabilities
Accounts receivable	(366)	(1,122)	(49)
Cryptocurrencies	(37)	(83)
Deposits, prepayments and other current assets	797	(640)	(237)
Amount due from related parties		647	(573)
Accounts payable	(1,096)	1,213	45
Inventories	30	721	(851)
Operating lease right-of-use assets	(411)	(43)
Operating lease liabilities-current	176	17
Operating lease liabilities-non-current	209	27
Income tax payable		(36)	33
Advance from customers	(59)	69	(174)
Amount due to related parties	(29)	30	(7)
Other payables and accrued liabilities	278	(220)	228
Net cash used in operating activities	(4,962)	(983)	(1,035)
Cash flows from investing activities
Proceed from sale of property and equipment	60
Purchase of property and equipment	(1,872)	(3,970)	(325)
Changes in Stablecoin	(4,612)
Purchase of intangible assets			(434)
Net cash used in investing activities	(6,424)	(3,970)	(759)
Cash flows from financing activities
Reverse recapitalization	18,533
Proceeds from issuance of Preferred Shares		8,191	2,892
Net cash provided by financing activities	18,533	8,191	2,892
Effect of exchange rate changes	(409)	(61)	72
Net increase in cash and cash equivalents	6,738	3,177	1,170
Cash and cash equivalents at beginning of the year	4,477	1,300	130
Cash and cash equivalents at end of the year	11,215	4,477	1,300
Supplemental disclosure of non-cash financing activities:
Capital injection received using equipment			$ 158

Organization

Organization	12 Months Ended
	Dec. 31, 2022
Organization Disclosure [Abstract]
Organization	1. Organization SAI.TECH Global Corporation, formerly known as TradeUP Global Corporation (the “Company” or “SAI.TECH”), was incorporated in the Cayman Islands on February 2, 2021. The Company, through its subsidiaries, is primarily engaged in sales of digital assets mining machines to end customers, specialized hosting service to digital asset mining customers, digital mining and mining pool service and other service globally. a. Reverse recapitalization On April 29, 2022, the Company consummated the previously announced business combination (the “Business Combination”) with SAITECH Limited, a Singapore based digital mining operator. Following the closing of the Business Combination, SAITECH Limited became a wholly owned subsidiary of TradeUP Global Corporation (“TradeUP”), which subsequently renamed to “SAI.TECH Global Corporation”. The transaction is accounted for as a recapitalization, SAITECH Limited is determined as the predecessor and the historical financial statements of SAITECH Limited became the Company’s historical financial statements, with retrospective adjustments to give effect of the recapitalization. The equity is restated using the exchange ratio of 0.13376 established in the recapitalization transaction, which is $188 million and $10.00 per share (the “exchange ratio”) divided by 140,551,496 (total ordinary shares outstanding of SAITECH Limited), and together with holders of 3,492,031 TradeUP Class A Ordinary Shares, remaining after the redemption of 2,071,735 Following completion of the Business Combination, holders of 28,000,000 SAITECH Limited Class A Ordinary Shares, remaining after the redemption of 24,254,751 -A There are an aggregate of 12,933,653 Class A Ordinary Shares issued and outstanding, and 2,244,493 Class A Ordinary Shares issuable upon the exercise of the warrants to purchase Class A Ordinary Shares outstanding, with an exercise price of $11.50 per share. Loss/(income) per share is retrospectively restated using the historical weighted -average nil -in -in The consolidated statements of changes in equity for the years ended December 31, 2021 and 2020 were also adjusted retrospectively to reflect these changes. The weighted average number of ordinary shares outstanding used in computing net loss per ordinary share — basic and diluted was adjusted retrospectively from 93,061,216 to 18,800,009 for the years ended December 31, 2021 and 2020. The loss per share before and after the retrospective adjustments are as follows. Year Ended December 31, 2020 2021 Before adjustment After adjustment Before adjustment After adjustment Net loss per share attributable to ordinary shareholders of SAI.TECH Global Corporation. – Basic and diluted — — (0.0019 ) (1.4274 ) Weighted average shares used in calculating net loss per share – Basic and diluted 93,061,216 12,447,760 93,061,216 12,447,760 b. Reorganization Prior to the Business Combination, SAITECH undertook a series of steps as follows to restructure its business (the “Reorganization”): The Company incorporated Superlative Accelerating Infinite Limited (“Superlative Accelerating”) under the laws of the British Virgin Islands and Superlative Accelerating incorporated Silicon Asset Investment Limited (“Silicon Asset”) under the laws of Hong Kong, as its wholly owned subsidiary, in April 2021. In April 2021, Silicon Asset incorporated a wholly owned subsidiary, Hangzhou Dareruohan Technology Co., Ltd. (“SAI WOFE”) in Hangzhou, the PRC. Effective on April 22, 2021, the Company acquired control over Beijing SAI and its subsidiary, Xinjiang Silicon Substrate Heating Power Co., Ltd. (“Xinjiang Silicon”) by entering into a series of contractual agreements (the “VIE Agreements”). The VIE Agreements enable SAI WOFE to (i) have power to direct the activities that most significantly affect the performance of Beijing SAI, and (ii) receive the benefits of Beijing SAI that could be significant to Beijing SAI. SAI WOFE is fully and exclusively responsible for the management of Beijing SAI, absorbs all risk of losses of Beijing SAI and has the exclusive right to exercise all voting rights of Beijing SAI’s shareholders. Therefore, in accordance with ASC 810 “Consolidation”, SAI WOFE is considered as the primary beneficiary of Beijing SAI and its subsidiary and has consolidated Beijing SAI’s assets, liabilities, results of operations, and cash flows in the accompanying consolidated financial statements. Beijing SAI is controlled by the same shareholder since incorporation and after the reorganization. Accordingly, Beijing SAI became the VIE of the Company and the Company, through its wholly owned subsidiaries, Superlative Accelerating, Silicon Asset and SAI WOFE, become the primary beneficiary of Beijing SAI and its subsidiary (the “Reorganization”). Since the Company, its wholly owned subsidiaries and the VIE were effectively controlled by the same shareholders immediately before and after the Reorganization completed on April 22, 2021, as described above, On August 31, 2021, the Company terminated the VIE Agreements. As a result, the corporate structure of the Company no longer contains a VIE structure starting from August 31, 2021. c. Subsidiaries As of December 31, 2022, the Company’s major subsidiaries were summarized as follows: Name of the entity Date of incorporation Percentage of ownership Place of incorporation Principle business Subsidiaries Superlative Accelerating Infinite Limited February 5, 2021 100% BVI Investment holding Sustainable Available Innovative Limited July 14, 2021 100% BVI Investment holding Silicon Asset Investment Limited March 3, 2021 100% Hong Kong Investment holding Sustainable Available Innovative Pte. Ltd. August 18, 2021 100% Singapore Investment holding Sustainable Available Innovative Asia Ltd August 26, 2021 100% Republic of Kazakhstan Investment holding Hangzhou Dareruohan Technology Co., Ltd. April 2, 2021 100% PRC Research and Development Nanjing SuannengWuxian Techology Co. Ltd. (1) June 4, 2020 100% PRC Research and Development SAI US INC. February 24, 2022 100% U.S. Business ____________ (1) Prior to August 31, 2021 total assets and liabilities presented on the Company’s consolidated balance sheets, net revenues, operating cost and expenses, and net income presented on the Company’s consolidated statements of operations and comprehensive (loss)/income, as well as the cash flows from operating, investing and financing activities presented on the Company’s consolidated statements of cash flows are substantially the financial position, result of operations and cash flows of the Company’s consolidated VIE . The following balances and amounts of the VIE were included in the Company’s consolidated financial statements as of December 31, 2022 and 2021 or for the year ended December 31, 2022, 2021 and 2020. As of December 31, 2021 As of December 31, 2022 (US$) (US$) Total Assets — — Total liabilities — — For the Year Ended 2020 2021 2022 (US$) (US$) (US$) Net revenues 1,957 6,737 — Net income/(loss) 403 (309 ) — Cash flow (used in)/provided by operating activities (1,035 ) 3,112 — Cash flow (used in)/provided by investing activities (759 ) 64 — Cash flow provided by/(used in) financing activities 2,892 (2,500 ) —

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies a) Basis of presentation The Company’s consolidated financial statements are prepared and presented in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”). b) Principles of consolidation The Company’s consolidated financial statements include the accounts of the Company, its subsidiaries and its consolidated VIE, of which the Company is the primary beneficiary, from the dates they were acquired or incorporated till August 2021 when VIE agreement was terminated. All inter -company c) Liquidity For the year ended December 31, 2022, the Company had a net loss of $8.8 million and net cash outflow in operating activities of $5.0 million. As of December 31, 2022, our consolidated current assets exceeded our consolidated current liabilities by $18.1 million, we had cash and cash equivalents of $11.2 million, and accumulated deficit of $25.3 million. The Company believes its current cash on hand is sufficient to meet its operating and capital requirement for at least the next twelve months from the date these financial statements are issued. d) Use of estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the related disclosure of contingent assets and liabilities at the date of these consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. The Company continually evaluates these estimates and assumptions based on the most recently available information, historical experience and various other assumptions that the Company believes to be reasonable under the circumstances. Significant accounting estimates reflected in the Company’s consolidated financial statements include but are not limited to estimates and judgments applied in determination of allowance for doubtful receivables, impairment losses for long -lived -based e) Foreign currency translation and transactions Historically the Company’s principal country of operations is the PRC. The financial position and results of its operations are determined using RMB, the local currency, as the functional currency. The Company’s financial statements are reported using U.S. Dollars (“US$”, or “$”). The functional currency for the Company in Cayman Island is US$. Assets and liabilities are translated using the exchange rate at each balance sheet date. The consolidated statements of operations and comprehensive (loss)/income and cash flows denominated in foreign currency are translated at the average rate of exchange during the reporting period, and shareholders’ equity/(deficit) is translated at historical exchange rates. Adjustments resulting from the translation are recorded as a separate component of accumulated other comprehensive (loss)/income in shareholders’ equity. The value of RMB against US$ and other currencies may fluctuate and is affected by, among other things, changes in the PRC’s political and economic conditions. Any significant revaluation of RMB may materially affect the Company’s financial condition in terms of US$ reporting. The following table outlines the currency exchange rates that were used in creating the consolidated financial statements in this report: As of December 31, 2021 As of December 31, 2022 Balance sheet items, except for equity accounts 6.3726 6.9646 For the Year Ended 2020 2021 2022 Items in the consolidated statements of operations and comprehensive (loss)/income, and cash flows 6.9042 6.4000 6.7190 No representation is intended to imply that the RMB amounts could have been, or could be, converted, realized or settled into US$ at that rate stated above, or at any other rate. f) Cash and cash equivalents Cash and cash equivalents consist of bank deposits, which are unrestricted as to withdrawal and use. The Company considers all highly liquid investments with original maturities of three months or less at the time of purchase to be cash equivalents. g) Accounts receivable The Company records accounts receivable at net realizable value consisting of the carrying amount less an allowance for uncollectible accounts as needed. The allowance for doubtful accounts is the Company’s best estimate of the amount of probable credit losses in the Company’s existing accounts receivable. The Company determines the allowance based on aging data, historical collection experience, customer specific facts and economic conditions. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. As of December 31, 2022 and 2021, the Company did not recorded any allowances for doubtful accounts against its accounts receivable. h) Inventories Inventories, consisting of digital mining cabinets and related accessories for the production purpose, are stated at the lower of cost or net realizable value. The cost of inventory is determined using the identified cost of the specific item. Inventory is written down for damaged and slow -moving i) Cryptocurrency assets Cryptocurrency assets are included in current assets in the accompanying consolidated balance sheets. Cryptocurrency assets generated from the cryptocurrency mining business and the mining pool business are accounted for in connection with the Company’s revenue recognition policy disclosed below. Cryptocurrencies held are accounted for as intangible assets with indefinite useful lives. An intangible asset with an indefinite useful life is not amortized but assessed for impairment quarterly, or more frequently, when events or changes in circumstances occur indicating that it is more likely than not that the indefinite -lived nil nil Cryptocurrencies generated from the cryptocurrency mining business and the mining pool business as well as the cryptocurrencies distributed to mining pool participants are included within operating activities in the accompanying consolidated statements of cash flows. The sales of cryptocurrencies are included within investing activities in the accompanying consolidated statements of cash flows and any realized gains or losses from such sales are included in gain or loss of disposal of cryptocurrencies in the consolidated statements of operations and comprehensive (loss)/income. The Company accounts for its gains or losses in accordance with the first -in-first-out j) Stablecoin assets Stablecoin is included in current assets in the accompanying consolidated balance sheets. The Company holds positions in the stablecoins USD Coin (USDC) and Tether (USDT), which are cryptocurrencies, but are considered a financial instrument in accordance with ASC Topic 825. These stablecoins are recognized in the consolidated balance sheets as investment recognized at fair value. k) Property and equipment, net The Company’s property and equipment are recorded at cost less accumulated depreciation and impairment loss, if any. Depreciation is calculated on the straight -line Furniture, fixture and other equipment 3 years Electronic equipment 3 – 5 years Plant Shorter of useful life or lease term When property and equipment are retired or otherwise disposed of, resulting gain or loss is included in net income in the period of disposition. For the year ended December 31, 2022, 2021 and 2020, the Company recognized $718, $317 and nil l) Intangible assets, net The Company’s intangible assets primarily consisted of purchased software used for specific digital asset mining machines to increase the computing power or reduce power consumption. The software is initially recorded at purchased cost and amortized on a straight -line m) Construction in process Direct costs that are related to the construction of equipment and incurred in connection with bringing the assets to their intended use are capitalized as construction in process. Construction in process is transferred to specific plants and equipment items and the depreciation of these assets commences when the assets are ready for their intended use. n) Impairment of long-lived assets All long -lived -lived -lived -lived nil $40 -lived o) Fair value of financial instruments The Company’s financial instruments primarily consist of cash and cash equivalents, accounts receivable and stablecoin. The carrying values of these financial instruments’ approximate fair values due to their short term in nature. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. This topic also establishes a fair value hierarchy which requires classification based on observable and unobservable inputs when measuring fair value. There are three levels of inputs that may be used to measure fair value: Level 1 — Quoted prices in active markets for identical assets or liabilities. Level 2 — Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Determining which category an asset or liability falls within the hierarchy requires significant judgment. The Company evaluates its hierarchy disclosures each quarter. p) Revenue recognition In accordance with ASC Topic 606, revenues are recognized when control of the promised goods or services is transferred to the Company’s customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. In determining when and how much revenue is recognized from contracts with customers, the Company performs the following five -step Sales of products Revenue generated from sales of products occurs for the sales of digital asset mining machines to end customers. The Company presents the revenue generated from its product sales on a gross basis as the Company acts as the principal and has control of the goods and has the ability to direct the use of goods to obtain substantially all the benefits. In making this determination, the Company also assesses whether it is primarily obligated in these transactions, is subject to inventory risk, has latitude in establishing prices, or has met several but not all of these indicators. Revenues are measured as the amount of consideration the Company expects to receive in exchange for transferring control of products to customers. Consideration from product sales is recorded net of value -added Hosting service Revenues generated from hosting service is earned by the Company to perform hosting service and daily maintenance of servers for customers throughout the contractual period. The single performance obligation is to provide an environment for the servers to operate continuously which is satisfied over time. Such hosting service revenue is recognized over time as the performance obligation is satisfied over the term of the contracts with customers. Mining pool services The Company operates its mining pool, Sai.plus, to enable providers of computing power (“pool participants”) to participate in crypto -mining The Company considers itself the principal in transactions with the blockchain networks and recognizes the mining pool revenue on a gross basis. The performance obligation is to create or validate each block. Revenue is recognized at the point when the block creation or validation is complete and the Company has received the rewards. Revenue is measured at the fair value of rewards upon receipt, which is not materially different than the fair value at contract inception. The Company considers itself the principal in transactions with the blockchain networks as it coordinates all the computing power within the mining pool, delivers such aggregated computing power to the blockchain network, collects centrally all mining rewards and distributes them in accordance with the predetermined sharing mechanisms. The Company has control over the pool participants’ computing power. Although the pool participants can enter and exit the pool at will and deploy the qualifying types of mining machines at the choices of the pool participants, during the mining process, the Company dictates the tasks and the participants’ mining machines merely follow the allocation prescribed by the Company. As a result, the Company is primarily responsible for fulfilling the promise to provide the specified service. Further, under existing sharing mechanisms, the Company is exposed to the risk that actual block rewards may differ from expected rewards, therefore, bears the inventory risk before the specified service has been transferred to a customer. The Company provides mining pool services under Sai.plus. Mining Revenue. The Company have entered into digital asset mining pools by executing contracts, as amended from time to time, with the mining pool operators to provide computing power to the mining pool. The contracts are terminable at any time by either party and our enforceable right to compensation only begins when we provide computing power to the mining pool operator. In exchange for providing computing power, the Company is entitled to a fractional share of the fixed cryptocurrency award the mining pool operator receives (less digital asset transaction fees to the mining pool operator which are immaterial and are recorded as a deduction from revenue), for successfully adding a block to the blockchain. q) Income taxes The Company follows the guidance of ASC Topic 740 “Income taxes” and uses liability method to account for income taxes. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial reporting and tax bases of assets and liabilities using enacted tax rates that will be in effect in the period in which the differences are expected to reverse. The Company records a valuation allowance to offset deferred tax assets, if based on the weight of available evidence, it is more -likely-than-not r) Uncertain tax positions The Company uses a more -likely-than-not -likely-than-not Interest on non -payment According to the Departmental Interpretation and Practice Notes No.11 (Revised) (“DIPN11”) of the Hong Kong Inland Revenue Ordinance (the “HK tax laws”), an investigation normally covers the six years of the assessment prior to the year of the assessment in which the investigation commences. In the case of fraud and willful evasion, the investigation is extended to cover ten years of assessment. According to the PRC Tax Administration and Collection Law, the statute of limitations is three years if the underpayment of taxes is due to computational errors made by the taxpayer or the withholding agent. The statute of limitations is extended to five years under special circumstances, where the underpayment of taxes is more than RMB100,000. In the case of transfer pricing issues, the statute of limitation is ten years. There is no statute of limitation in the case of tax evasion. For the year ended December 31 2022, 2021 and 2020, the Company did not have any material interest or penalties associated with tax positions. The Company did not have any significant unrecognized uncertain tax positions as of December 31, 2022 and 2021. The Company does not expect that its assessment regarding unrecognized tax positions will materially change over the next 12 months. s) Segment reporting Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision maker (the “CODM”), which is comprised of certain members of the Company’s management team. Consequently, the Company has determined that it has two reportable operating segments. In addition, the Company’s chief operating decision maker makes resource allocation decisions and assesses performance based on the different business operating results instead of the geographic location operating results. Therefore, no geographical segments are presented. t) Earnings per share Earnings (loss) per share is computed in accordance with ASC 260. The two -class -class -A -converted -cumulative Basic earnings (loss) per ordinary share is computed by dividing net income/(loss) attributable to holders of ordinary shares by the weighted average number of ordinary shares outstanding during the period. Diluted earnings/(loss) per share is calculated by dividing net income/(loss) attributable to ordinary shareholders by the weighted average number of ordinary and potential ordinary shares outstanding during the period. Potential ordinary shares include ordinary shares issuable upon the conversion of the preferred shares using the if -converted -dilutive u) Share based compensation The Company measures the cost of employee services received in exchange for an award of equity instruments based on the grant -date -line -date v) Commitments and contingencies The Company accrues estimated losses from loss contingencies by a charge to income when information available before financial statements are issued or are available to be issued indicates that it is probable that an asset had been impaired, or a liability had been incurred at the date of the financial statements and the amount of the loss can be reasonably estimated. Legal expenses associated with the contingency are expensed as incurred. If a loss contingency is not probable or reasonably estimable, disclosure of the loss contingency is made in the financial statements when it is at least reasonably possible that a material loss could be incurred. As of December 31, 2022 and 2021, there were no contingent liabilities relating to litigations against the Company. w) Leases In February 2016, the FASB issued ASU No. 2016 -02 -of-use

Inventories

Inventories	12 Months Ended
	Dec. 31, 2022
Inventories Disclosure [Abstract]
Inventories	3. Inventories Inventories consisted of the following: As of December 31, 2021 As of December 31, 2022 US$ US$ Heat recovery cabinet 198 — Accessories — 152 198 152 Inventories are stated at the lower of cost or net realizable value. No impairment was recorded for the year ended December 31, 2022 and 2021.

Deposits, Prepayments and Other

Deposits, Prepayments and Other Current Assets, Net	12 Months Ended
	Dec. 31, 2022
Deposits, Prepayments and Other Current Assets, Net Disclosure [Abstract]
Deposits, Prepayments and Other Current Assets, net	4. Deposits, Prepayments and Other Current Assets, net Prepaid expenses and other current assets consisted of the following As of December 31, 2021 As of December 31, 2022 US$ US$ Deposits for office spaces leases 133 78 Prepaid purchase of inventory (i) 147 — Staff advances 38 — Deductible VAT tax 617 562 Other current assets (ii) 13 481 Deposits, prepayments and other current assets, cost 948 1,121 Less: bad debt provision — — Deposits, prepayments and other current assets, net 948 1,121 ____________ (i) (ii)

Property and Equipment, Net

Property and Equipment, Net	12 Months Ended
	Dec. 31, 2022
Property and Equipment, Net Disclosure [Abstract]
Property and Equipment, Net	5. Property and Equipment, Net Property and equipment, net, consisted of the following As of December 31, 2021 As of December 31, 2022 US$ US$ Electronic equipment 3,351 2,288 Furniture, fixtures and other equipment 1,034 1,332 Plants 89 83 Property and equipment, cost 4,474 3,703 Less: accumulated depreciation (129 ) (982 ) Impairment — (849 ) 4,345 1,872 Depreciation expenses for the year ended December 31, 2022, 2021 and 2020 were approximately $1,506, $152 and $34 respectively.

Intangible Assets, Net

Intangible Assets, Net	12 Months Ended
	Dec. 31, 2022
Intangible Assets, Net Disclosure [Abstract]
Intangible Assets, Net	6. Intangible Assets, Net Intangible asset, net, consisted of the following As of As of US$ US$ Purchased software 344 311 Less: accumulated amortization (79 ) (217 ) 265 94 Amortization expenses for the year ended December 31, 2022, 2021 and 2020 were approximately $138, $157 and $49 respectively.

Operating Leases

Operating Leases	12 Months Ended
	Dec. 31, 2022
Operating Leases [Abstract]
Lessee, Operating Lease, Disclosure [Table Text Block]	7. Operating Leases The Company entered into various operating lease agreements, mainly including operation in Kazakhstan, which was started in August, 2021, office lease, which was started in March, 2022, and operation lease in Ohio, U.S., which was started in August, 2022. The remaining lease terms ranges from 1.5 to 3 years. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. The following table presents the operating lease related assets and liabilities recorded on the Company’s consolidated balance sheet. As of December 31, 2021 As of December 31, 2022 US$ US$ Right-of-use assets, net 43 443 Impairment of right-of-use assets — — Right-of-use assets, net 43 443 Operating lease liabilities – current 17 188 Operating lease liabilities – non-current 27 231 Total operating lease liabilities 44 419 For the year ended December 31, 2022, 2021 and 2020, the Company recorded short -term nil nil nil The following table summarizes the maturity of operating lease liabilities as of December 31, 2022: US$ 2023 209 2024 202 Total 30 Less: imputed interest (22 ) Present value of lease liabilities 419

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	8. Income Taxes The entities within the Company file separate tax returns in the respective tax jurisdictions in which they operate. Cayman Islands The Company is incorporated in the Cayman Islands. Under the current laws of the Cayman Islands, the Company is not subject to income or capital gains taxes. In addition, dividend payments are not subject to withholdings tax in the Cayman Islands. British Virgin Islands (“BVI”) Under the current laws of the BVI, the Company’s subsidiaries incorporated in BVI are not subject to tax on income or capital gains. Additionally, upon payments of dividends by the BVI company to its respective shareholders, no BVI withholding tax will be imposed. Hong Kong, PRC Under the current Hong Kong tax laws, a two -tier -derived Mainland, PRC The Company’s PRC subsidiaries are governed by the income tax law of the PRC and are subject to the PRC enterprise income tax (“EIT”). The EIT rate of PRC is 25%, which applies to both domestic and foreign invested enterprises. The income tax rate of a Company’s PRC subsidiaries is 25%. The income tax rate of the Company’s VIE and VIE subsidiary is 25% for the period from March 28, 2019 (inception) through December 31, 2019, and the years ended December 31, 2020. On August 31, 2021, the Company terminated the VIE Agreements. As a result, the corporate structure of the Company no longer contains a VIE structure effective August 31, 2021. Singapore Sustainable Available Innovative Pte. Ltd. was established in Singapore and is subject to Singapore corporate income taxes at the rate of 17% for the years ended December 31, 2022, 2021 and 2020. United States (“U.S.”). SAI US INC. is incorporated in the U.S. and is subject to the U.S. federal income taxes. According to U.S. tax reform, a flat corporate income tax rate of 21% is effective beginning in 2018. For the year ended December 31, 2022, 2021 and 2020, the Company’s income tax expense consisted of: For Year Ended 2020 2021 2022 US$ US$ US$ Current tax expense 33 24 — Deferred tax expense 20 — — 53 24 — A reconciliation of the income tax expense determined at the PRC statutory income tax rate to the Company’s actual income tax expense is as follows: For Year Ended 2020 2021 2022 US$ US$ US$ Loss before income tax expense 456 (16,680 ) (8,845 ) PRC statutory income tax rate 25 % 25 % 25 % Income tax at PRC statutory income tax rate 114 (4,170 ) (2,211 ) Super deduction of qualified R&D expenditures (65 ) — — Expenses not deductible 3 4,141 265 Change in valuation allowance 1 53 — Change in unrecognized deferred tax asset — — 1,946 Income tax expense 53 24 — The Group’s deferred tax assets at December 31, 2022 and 2021 were as follows: As of December 31, 2021 As of December 31, 2022 US$ US$ Deferred tax assets 53 — Less, valuation allowance (53 ) — Deferred tax assets, net — — The following represents a roll -forward : For the years ended 2020 2021 2022 US$ US$ US$ Beginning balance — 1 — Deferred tax assets-provision for current year 1 52 — Less, valuation allowance — (53 ) — Deferred tax assets, net 1 — —

Redeemable Preferred Shares

Redeemable Preferred Shares	12 Months Ended
	Dec. 31, 2022
Redeemable Preferred Shares [Abstract]
Redeemable Preferred Shares	9. Redeemable Preferred Shares Series A Preferred Shares Issuance On April 22, 2021, the Company entered into an investment agreement with certain investors, to issue 16,466,767 series A preferred shares (“Series A Preferred Shares”), with par value of US$0.0001 each, for an aggregated consideration of US$8,156. The issuance price of the Series A Preferred Shares is US$0.4953. In addition, the Company was committed to issue 9,864,312 Series Pre -A -A Preferred Shares will be issued to the three shareholders once they have obtained all approval from PRC government and their capital contribution in the Company has been completed. Automatic conversion event was added for Series Angel, Series Pre -A The Beneficial conversion feature (“BCF”) exists when the conversion price of the Series A Preferred Shares is lower than the fair value of the Class A Ordinary Shares at the commitment date, which is the issuance date of Series A Preferred Shares. No BCF was recognized for the Series A Preferred Shares as the fair value of the Class A Ordinary Shares at the commitment date was less than its most favorable conversion price. The fair value of the Company’s Class A Ordinary Shares was determined with the assistance of an independent third -party Additional Preferences of Preferred Shares after the Reorganization Additional Redemption Rights Upon the Reorganization, a new redemption event is added that Series Angel, Series Pre -A As it was not probable for the Redemption Event to happen before the reorganization, the Preferred Shares were not considered currently redeemable, and no accretions were made until the reorganization when the Qualified IPO and trade sale redemption term is added. The Group accretes changes in the redemption value from the date of reorganization and continue until such time to the redemption (6 years) date using interest method at a simple annual interest rate of 10%. The accretion will be recorded against retained earnings, or in the absence of retained earnings, by charges against additional paid -in -in The Preferred Shares are classified in mezzanine equity between the liabilities and the permanent equity on the consolidated balance sheets due to the conditional redemption right upon the occurrence of the redemption events which are beyond the Group’s control. As of December 31, 2021 and 2022, the mezzanine equities are $12,473 and nil The change in the number of redeemable preferred shares for the years ended December 31, 2020, 2021 and 2022 is as follows: For the years ended December 31, 2020 2021 2022 (‘000) (‘000) (‘000) Number of redeemable preferred shares Opening balance — 21,000 37,730 Issuance of Series Angel Preferred Shares (1) 4,000 — — Conversion of Beijing SAI preferred shares due to reorganization (1) — (21,000 ) — Issuance of Series Angel Preferred Shares of the Company due to reorganization (2) — 7,289 — Issuance of Series Pre-A Preferred Shares of the Company due to reorganization (3) 17,000 13,974 — Issuance of Series A Preferred Shares (4) — 16,467 — Conversion into Ordinary Shares (5) (37,730 ) Ending balance 21,000 37,730 0 (1) -in (2) (3) -A -A -A -A -A and the 9.8 million Series Pre -A -A (4) (5) On April 29, 2022, the redeemable preferred shares were transferred into Class A Ordinary Shares following the Business Combination based upon a conversion ratio of 0.13376. The change in the number of redeemable preferred shares for the years ended December 31, 2020, 2021 and 2022 is restated as following: For the years ended December 31, 2020 2021 2022 (‘000) (‘000) (‘000) Number of redeemable preferred shares Opening balance — 2,928 5,151 Issuance of Series Angel Preferred Shares (1) 975 — — Conversion of Beijing SAI preferred shares due to reorganization (1) — (2,928 ) — Issuance of Series Angel Preferred Shares of the Company due to reorganization (2) — 975 — Issuance of Series Pre-A Preferred Shares of the Company due to reorganization (3) 1,953 1,953 — Issuance of Series A Preferred Shares (4) — 2,223 — Conversion into Ordinary Shares (5) — — (5,151 ) Ending balance 2,928 5,151 — * The change in the balance of the mezzanine equities for the years ended December 31, 2020, 2021 and 2022 is as follows: For the years ended 2020 2021 2022 US$ US$ US$ Opening balance — 3,218 12,473 Series Angel Preferred Shares (1) 613 — — Series A Preferred Shares (2) 2,605 8,156 — Accretion during the period (3) — 1,064 — Currency translation adjustment — 35 — Conversion into Ordinary Shares (4) — — (12,473 ) Ending balance 3,218 12,473 — (1) (2) (3) -A (4)

Restricted Net Assets

Restricted Net Assets	12 Months Ended
	Dec. 31, 2022
Restricted Net Assets [Abstract]
Restricted Net Assets	10. Restricted Net Assets The Company’s operations are conducted through its PRC subsidiary and historically the VIE. Relevant PRC statutory laws and regulations permit payments of dividends by its PRC subsidiary and VIE only out of their retained earnings, if any, as determined in accordance with PRC accounting standards and regulations, and after it has met the PRC requirements for appropriation to statutory reserves. Paid in capital, additional paid -in -in -distributable In accordance with the PRC regulations on Enterprises with Foreign Investment, a WOFE established in the PRC is required to provide certain statutory reserves, namely general reserve fund, the enterprise expansion fund and staff welfare and bonus fund which are appropriated from net profit as reported in the enterprise’s PRC statutory accounts. A WOFE is required to allocate at least 10% of its annual after -tax Additionally, in accordance with the Company Law of the PRC, a domestic enterprise is required to provide a statutory common reserve of at least 10% of its annual after -tax As a result of these PRC laws and regulations, the Company’s PRC subsidiaries are restricted in their ability to transfer a portion of their net assets to the Company. As of December 31, 2022 and 2021, net assets restricted in the aggregate, which include paid -in -in

Employee Defined Contribution P

Employee Defined Contribution Plan	12 Months Ended
	Dec. 31, 2022
Employee Defined Contribution Plan [Abstract]
Employee Defined Contribution Plan	11. Employee Defined Contribution Plan Full time employees of the Company’s subsidiaries in U.S., Singapore and PRC participate in a government mandated defined contribution plan, pursuant to which certain pension benefits, medical care, employee housing fund and other welfare benefits are provided to employees. The related labor regulations of U.S., Singapore and PRC require that the Company make contributions to the government for these benefits based on certain percentages of the employees’ salaries. The employee benefits were expensed as incurred. The Company has no legal obligation for the benefits beyond the contributions made. The total amounts for such employee benefits were $257, $93 and $9, respectively, for the year ended December 31, 2022, 2021 and 2020.

Share-based Payment

Share-based Payment	12 Months Ended
	Dec. 31, 2022
Share-based Payment [Abstract]
Share-based Payment	12. Share-based Payment On September 8, 2021, the Company granted 8,979,600 restricted Class A Ordinary Shares to Make World Better Limited (“Recipient”), which is an entity wholly owned by Mr. Fan Yinliang (“Mr. Fan”) who is a consultant to the Company. The restricted shares are granted with a purchase price of $0.0001 per share and are fully vested upon grant and was fully issued as of December 31,2021. This grant is to reward Mr. Fan for his service of introducing digital asset mining resources providers outside China. This share -based Share Incentive Plans The company have incentive plan for the granting of share -based 2021 Share Incentive Plan On April 22, 2022, the Company’s shareholders adopted the 2021 Share Incentive Plan, which provides for the issuance of up to an initial 1,812,663 Class A ordinary shares and subject to such adjustments in the plan, the then -applicable st st st As of December 31, 2022, 410,663 A summary of the Company’s unvested time -based Number of Shares Unvested at December 31, 2021 1,812,663 Vested 382,250 Granted 981,000 Forfeited 38,750 Unvested at December 31, 2022 410,663

Concentration of Risk

Concentration of Risk	12 Months Ended
	Dec. 31, 2022
Concentration of Risk [Abstract]
Concentration of Risk	13. Concentration of Risk Credit risk Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash and cash equivalents, accounts receivable and due from related parties. As of December 31, 2022, all of the Company’s cash and cash equivalents was held by major financial institutions located in PRC, Hong Kong, U.S., and Cayman. The Company believes that these financial institutions are of high credit quality. For accounts receivable, the Company extends credit based on an evaluation of the customer’s financial condition, generally without requiring collateral or other security. Further, the Company reviews the recoverable amount of each individual receivable at each balance sheet date to ensure that adequate allowances are made for doubtful accounts. In this regard, the Company considers that the Company’s credit risk for accounts receivable is significantly reduced. For amount due from related parties, the Company provides advances to the officers for daily operation. The credit risk is mitigated by ongoing monitoring process of outstanding balance and timely collection when there is no immediate need for such advances. Concentration of customers The following tables summarized the information about the Group’s concentration of customers as of and for the years ended December 31, 2022 and 2021, respectively: A B C D E F G H I J K L M N O P Q R S T Year Ended December 31, 2022 Revenues, customer concentration — — — — — 12 % — — — — — — — 28 % 20 % 28 % — — — — Year Ended December 31, 2022 Purchases, supplier concentration — — — — — — — — — — — — 11 % — — — * 28 % 27 % 21 % As of December 31, 2022 Accounts receivable, customer concentration — — — — — — — — — — — — — — * 96 % — — — — As of December 31, 2022 Accounts payable, supplier concentration — — — — — — — — — — — — — — — — 16 % — — — A B C D E F G H I J Year Ended December 31, 2021 Revenues, customer concentration 20 % 14 % 36 % 11 % * * — — — — Year Ended December 31, 2021 Purchases, supplier concentration — — — — — — 19 % 16 % * * As of December 31, 2021 Accounts receivable, customer concentration * — — — — 100 % — — — — As of December 31, 2021 Accounts payable, supplier concentration — — — — — — — — — 99 % ____________ * —

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	14. Commitments and Contingencies Operating lease commitment: The information of operating lease commitment is provided in Note 7.

Earnings_(Loss) Per Share

Earnings/(Loss) Per Share	12 Months Ended
	Dec. 31, 2022
Earnings Per Share [Abstract]
Earnings/(Loss) Per Share	15. Earnings/(Loss) Per Share Basic and diluted loss per ordinary share for each of the period presented is calculated as follows: For the year ended December 31, 2020 2021 2022 US$ US$ US$ Numerators Net profit/(loss) 403 (16,704 ) (8,845 ) Less: Net income allocated to Series Angel and Series Pre-A preferred share (403 ) — — Accretion on mezzanine equities — (1,064 ) — Adjusted net profit (loss) — (17,768 ) (8,845 ) Denominators Weighted average number of ordinary shares outstanding-Basic and diluted* 12,447,760 12,447,760 19,224,614 Loss per ordinary share-Basic and diluted — (1.4274 ) (0.4601 ) ____________ * Potential ordinary shares that have an anti -dilutive

Amount Due from_(to) Related Pa

Amount Due from/(to) Related Parties	12 Months Ended
	Dec. 31, 2022
Amount Due from/(to) Related Parties [Abstract]
Amount due from/(to) related parties	16. Amount due from/(to) related parties The following is a list of the related parties with whom the Company conducted transactions for the year ended December 31, 2022, 2021 and 2020, and their relations with the Company: Name of the related parties Relation with the Company Mr. Risheng Li Founder, chairman of board of director, chief executive officer Mr. Liedong Wang Senior executive officer Mr. Dahan Bao Senior executive officer As of December 31, 2021 As of December 31, 2022 US$ US$ Amount due from related parties Mr. Risheng Li — — — — As of December 31, 2021 As of December 31, 2022 US$ US$ Amount due to related parties Beijing SAI 30 — 30 — Amount due from related parties represents cash advanced to these officers for operation of the Company and are all subsequently collected. Amount due to related parties represents reimbursement payable to the management used for daily operation. The related party transactions summarized by different natures are as follows: For the year ended December 31, 2020 2021 2022 US$ US$ US$ Settlement of advance to related parties for daily operation Mr. Risheng Li 406 235 — Mr. Liedong Wang 396 415 — Mr. Dahan Bao 31 30 — Repayment from related parties Mr. Risheng Li 203 36 — Mr. Liedong Wang 22 14 — Mr. Dahan Bao — — —

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2022
Segment Reporting [Abstract]
Segment Information	17. Segment Information The Company applies ASC 280, Segment Reporting The following table details revenue and cost of revenues for the Company’s reportable segments for the year ended December 31, 2022, 2021 and 2020, and reconciles to net income (loss) in the consolidated statements of operations: For the year ended December 31, 2020 2021 2022 US$ US$ US$ Reportable segment revenue: Revenue – equipment & hosting $ 1,957 $ 9,558 $ 9,929 Revenue – mining pool — 7,480 676 Revenue – mining — — 33 Total segment and consolidated revenue 1,957 17,038 10,638 Reportable segment cost of revenue Cost of revenues – equipment & hosting 1,055 8,382 8,802 Cost of revenues – mining pool — 7,392 676 Cost of revenues – mining 20 Total segment and consolidated cost of revenues 1,055 15,774 9,498 Reconciling Items: Selling, general and administrative expenses (232 ) (17,162 ) (7,178 ) Research development expenses (348 ) (419 ) (476 ) Impairment of long-lived assets (40 ) (135 ) (951 ) Other income/(expense) 174 (228 ) (1,380 ) Income tax expense (53 ) (24 ) — Net profit/(loss) $ 403 $ (16,704 ) $ (8,845 )

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2022
Subsequent Events [Abstract]
Subsequent Events	18. Subsequent Events The Company has evaluated subsequent events through the issuance of the combined and consolidated financial statements and no subsequent event is identified that would have required adjustment or disclosure in the consolidated financial statements.

Parent Only Information

Parent Only Information	12 Months Ended
	Dec. 31, 2022
Parent Only Information [Abstract]
Parent Only Information	19. Parent Only Information SAI.TECH Global Corporation (the “Parent Company”) was incorporated on January 26, 2021, and have become parent company of the Company since the completion of the Business Combination on April 29, 2022. Following the closing of the Business Combination, SAITECH Limited became a wholly owned subsidiary of TradeUP Global Corporation (“TradeUP”), which subsequently renamed to “SAI.TECH Global Corporation”. The transaction is accounted for as a recapitalization, SAITECH Limited is determined as the predecessor and the historical financial statements of SAITECH Limited became the Company’s historical financial statements, and SAI.TECH Limited’s financial statements are determined as the Company’s Parent Company financial statements. See Note 1a — “Reverse recapitalization” for more information. The following disclosures presented the financial positions of the Parent Company as of December 31, 2021 and 2022, and results of operations and cash flows for the years ended December 31, 2022, 2021 and 2020, as if the current corporate structure has been in existence throughout the periods presented. The audited condensed financial statements of the Parent Company have been prepared using the same accounting policies as set out in the Company’s consolidated financial statements. Condensed Balance Sheets As of As of US$ US$ Assets Cash 3,311 9,376 Amount due from subsidiaries and VIE — — Accounts receivable 1,174 57 Other receivables — 474 Amounts due from related parties 7,400 16,407 Long-term investment 100 50 Investments in subsidiaries and VIE — — Cryptocurrencies 4 18 Operating lease right-of-use assets 43 27 Total Assets 12,032 26,409 Accounts payable 1,259 163 Accrued payroll — 60 Operating lease liabilities-current 17 11 Operating lease liabilities-non-current 27 17 Investments in subsidiaries and VIE — 5,844 Total Liabilities 1,303 6,095 Mezzanine equities 12,473 — Equity: *Class A Ordinary shares ($0.0001 par value; 330,369,366 shares authorized, 13,315,903 and 2,544,148 shares issued and outstanding in December 31, 2022 and December 31, 2021) 1 1 *Class B Ordinary shares ($0.0001 par value; 9,630,634 shares authorized and outstanding in December 31, 2022 and December 31, 2021) 1 1 Subscription receivable (9 ) — Additional paid-in capital 12,928 46,030 Statutory reserves — — Accumulated deficit (14,747 ) (25,257 ) Accumulated other comprehensive income/(loss) 82 (461 ) Total equity (1,744 ) 20,314 Total Liabilities and Equity 12,032 26,409 ____________ * Condensed Statements of Operations For the year ended 2020 2021 2022 US$ US$ US$ Revenue — 2,527 2,608 Cost of revenue — (2,302 ) (2,268 ) General and administrative expenses — (508 ) (3,502 ) Sales and marketing expenses — (14,464 ) (150 ) R&D expenses (6 ) Asset impairment loss (19 ) Other expense, net (885 ) Share of income/(loss) from subsidiaries and VIE 403 (909 ) (4,623 ) Net income/(loss) 403 (15,656 ) (8,845 ) Condensed Statements of Cash Flows For the year ended 2020 2021 2022 US$ US$ US$ Cash flows used in operating activities — (209 ) (4,579 ) Investment in subsidiaries and VIE (2,923 ) (7,500 ) — Collection of due from/(increase in due from) subsidiaries and VIE — 2,828 (9,007 ) Cash flows used in investing activities (2,923 ) (4,672 ) (9,007 ) Proceeds from issuance of redeemable preferred shares 2,923 8,191 — Reverse Recapitalization — — 19,652 Cash flows from financing activities 2,923 8,191 19,652 Effect of exchange rate changes — — — Net change in cash and cash equivalents — 3,310 6,066 Cash and cash equivalents at beginning of the period — — 3,310 Cash and cash equivalents at end of the period — 3,310 9,376

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Basis of presentation	a) Basis of presentation The Company’s consolidated financial statements are prepared and presented in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”).
Principles of consolidation	b) Principles of consolidation The Company’s consolidated financial statements include the accounts of the Company, its subsidiaries and its consolidated VIE, of which the Company is the primary beneficiary, from the dates they were acquired or incorporated till August 2021 when VIE agreement was terminated. All inter -company
Liquidity	c) Liquidity For the year ended December 31, 2022, the Company had a net loss of $8.8 million and net cash outflow in operating activities of $5.0 million. As of December 31, 2022, our consolidated current assets exceeded our consolidated current liabilities by $18.1 million, we had cash and cash equivalents of $11.2 million, and accumulated deficit of $25.3 million. The Company believes its current cash on hand is sufficient to meet its operating and capital requirement for at least the next twelve months from the date these financial statements are issued.
Use of estimates	d) Use of estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the related disclosure of contingent assets and liabilities at the date of these consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. The Company continually evaluates these estimates and assumptions based on the most recently available information, historical experience and various other assumptions that the Company believes to be reasonable under the circumstances. Significant accounting estimates reflected in the Company’s consolidated financial statements include but are not limited to estimates and judgments applied in determination of allowance for doubtful receivables, impairment losses for long -lived -based
Foreign currency translation and transactions	e) Foreign currency translation and transactions Historically the Company’s principal country of operations is the PRC. The financial position and results of its operations are determined using RMB, the local currency, as the functional currency. The Company’s financial statements are reported using U.S. Dollars (“US$”, or “$”). The functional currency for the Company in Cayman Island is US$. Assets and liabilities are translated using the exchange rate at each balance sheet date. The consolidated statements of operations and comprehensive (loss)/income and cash flows denominated in foreign currency are translated at the average rate of exchange during the reporting period, and shareholders’ equity/(deficit) is translated at historical exchange rates. Adjustments resulting from the translation are recorded as a separate component of accumulated other comprehensive (loss)/income in shareholders’ equity. The value of RMB against US$ and other currencies may fluctuate and is affected by, among other things, changes in the PRC’s political and economic conditions. Any significant revaluation of RMB may materially affect the Company’s financial condition in terms of US$ reporting. The following table outlines the currency exchange rates that were used in creating the consolidated financial statements in this report: As of December 31, 2021 As of December 31, 2022 Balance sheet items, except for equity accounts 6.3726 6.9646 For the Year Ended 2020 2021 2022 Items in the consolidated statements of operations and comprehensive (loss)/income, and cash flows 6.9042 6.4000 6.7190 No representation is intended to imply that the RMB amounts could have been, or could be, converted, realized or settled into US$ at that rate stated above, or at any other rate.
Cash and cash equivalents	f) Cash and cash equivalents Cash and cash equivalents consist of bank deposits, which are unrestricted as to withdrawal and use. The Company considers all highly liquid investments with original maturities of three months or less at the time of purchase to be cash equivalents.
Accounts receivable	g) Accounts receivable The Company records accounts receivable at net realizable value consisting of the carrying amount less an allowance for uncollectible accounts as needed. The allowance for doubtful accounts is the Company’s best estimate of the amount of probable credit losses in the Company’s existing accounts receivable. The Company determines the allowance based on aging data, historical collection experience, customer specific facts and economic conditions. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. As of December 31, 2022 and 2021, the Company did not recorded any allowances for doubtful accounts against its accounts receivable.
Inventories	h) Inventories Inventories, consisting of digital mining cabinets and related accessories for the production purpose, are stated at the lower of cost or net realizable value. The cost of inventory is determined using the identified cost of the specific item. Inventory is written down for damaged and slow -moving
Cryptocurrency assets	i) Cryptocurrency assets Cryptocurrency assets are included in current assets in the accompanying consolidated balance sheets. Cryptocurrency assets generated from the cryptocurrency mining business and the mining pool business are accounted for in connection with the Company’s revenue recognition policy disclosed below. Cryptocurrencies held are accounted for as intangible assets with indefinite useful lives. An intangible asset with an indefinite useful life is not amortized but assessed for impairment quarterly, or more frequently, when events or changes in circumstances occur indicating that it is more likely than not that the indefinite -lived nil nil Cryptocurrencies generated from the cryptocurrency mining business and the mining pool business as well as the cryptocurrencies distributed to mining pool participants are included within operating activities in the accompanying consolidated statements of cash flows. The sales of cryptocurrencies are included within investing activities in the accompanying consolidated statements of cash flows and any realized gains or losses from such sales are included in gain or loss of disposal of cryptocurrencies in the consolidated statements of operations and comprehensive (loss)/income. The Company accounts for its gains or losses in accordance with the first -in-first-out
Stablecoin assets	j) Stablecoin assets Stablecoin is included in current assets in the accompanying consolidated balance sheets. The Company holds positions in the stablecoins USD Coin (USDC) and Tether (USDT), which are cryptocurrencies, but are considered a financial instrument in accordance with ASC Topic 825. These stablecoins are recognized in the consolidated balance sheets as investment recognized at fair value.
Property and equipment, net	k) Property and equipment, net The Company’s property and equipment are recorded at cost less accumulated depreciation and impairment loss, if any. Depreciation is calculated on the straight -line Furniture, fixture and other equipment 3 years Electronic equipment 3 – 5 years Plant Shorter of useful life or lease term When property and equipment are retired or otherwise disposed of, resulting gain or loss is included in net income in the period of disposition. For the year ended December 31, 2022, 2021 and 2020, the Company recognized $718, $317 and nil
Intangible assets, net	l) Intangible assets, net The Company’s intangible assets primarily consisted of purchased software used for specific digital asset mining machines to increase the computing power or reduce power consumption. The software is initially recorded at purchased cost and amortized on a straight -line
Construction in process	m) Construction in process Direct costs that are related to the construction of equipment and incurred in connection with bringing the assets to their intended use are capitalized as construction in process. Construction in process is transferred to specific plants and equipment items and the depreciation of these assets commences when the assets are ready for their intended use.
Impairment of long-lived assets	n) Impairment of long-lived assets All long -lived -lived -lived -lived nil $40 -lived
Fair value of financial instruments	o) Fair value of financial instruments The Company’s financial instruments primarily consist of cash and cash equivalents, accounts receivable and stablecoin. The carrying values of these financial instruments’ approximate fair values due to their short term in nature. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. This topic also establishes a fair value hierarchy which requires classification based on observable and unobservable inputs when measuring fair value. There are three levels of inputs that may be used to measure fair value: Level 1 — Quoted prices in active markets for identical assets or liabilities. Level 2 — Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Determining which category an asset or liability falls within the hierarchy requires significant judgment. The Company evaluates its hierarchy disclosures each quarter.
Revenue recognition	p) Revenue recognition In accordance with ASC Topic 606, revenues are recognized when control of the promised goods or services is transferred to the Company’s customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. In determining when and how much revenue is recognized from contracts with customers, the Company performs the following five -step Sales of products Revenue generated from sales of products occurs for the sales of digital asset mining machines to end customers. The Company presents the revenue generated from its product sales on a gross basis as the Company acts as the principal and has control of the goods and has the ability to direct the use of goods to obtain substantially all the benefits. In making this determination, the Company also assesses whether it is primarily obligated in these transactions, is subject to inventory risk, has latitude in establishing prices, or has met several but not all of these indicators. Revenues are measured as the amount of consideration the Company expects to receive in exchange for transferring control of products to customers. Consideration from product sales is recorded net of value -added Hosting service Revenues generated from hosting service is earned by the Company to perform hosting service and daily maintenance of servers for customers throughout the contractual period. The single performance obligation is to provide an environment for the servers to operate continuously which is satisfied over time. Such hosting service revenue is recognized over time as the performance obligation is satisfied over the term of the contracts with customers. Mining pool services The Company operates its mining pool, Sai.plus, to enable providers of computing power (“pool participants”) to participate in crypto -mining The Company considers itself the principal in transactions with the blockchain networks and recognizes the mining pool revenue on a gross basis. The performance obligation is to create or validate each block. Revenue is recognized at the point when the block creation or validation is complete and the Company has received the rewards. Revenue is measured at the fair value of rewards upon receipt, which is not materially different than the fair value at contract inception. The Company considers itself the principal in transactions with the blockchain networks as it coordinates all the computing power within the mining pool, delivers such aggregated computing power to the blockchain network, collects centrally all mining rewards and distributes them in accordance with the predetermined sharing mechanisms. The Company has control over the pool participants’ computing power. Although the pool participants can enter and exit the pool at will and deploy the qualifying types of mining machines at the choices of the pool participants, during the mining process, the Company dictates the tasks and the participants’ mining machines merely follow the allocation prescribed by the Company. As a result, the Company is primarily responsible for fulfilling the promise to provide the specified service. Further, under existing sharing mechanisms, the Company is exposed to the risk that actual block rewards may differ from expected rewards, therefore, bears the inventory risk before the specified service has been transferred to a customer. The Company provides mining pool services under Sai.plus. Mining Revenue. The Company have entered into digital asset mining pools by executing contracts, as amended from time to time, with the mining pool operators to provide computing power to the mining pool. The contracts are terminable at any time by either party and our enforceable right to compensation only begins when we provide computing power to the mining pool operator. In exchange for providing computing power, the Company is entitled to a fractional share of the fixed cryptocurrency award the mining pool operator receives (less digital asset transaction fees to the mining pool operator which are immaterial and are recorded as a deduction from revenue), for successfully adding a block to the blockchain.
Income taxes	q) Income taxes The Company follows the guidance of ASC Topic 740 “Income taxes” and uses liability method to account for income taxes. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial reporting and tax bases of assets and liabilities using enacted tax rates that will be in effect in the period in which the differences are expected to reverse. The Company records a valuation allowance to offset deferred tax assets, if based on the weight of available evidence, it is more -likely-than-not
Uncertain tax positions	r) Uncertain tax positions The Company uses a more -likely-than-not -likely-than-not Interest on non -payment According to the Departmental Interpretation and Practice Notes No.11 (Revised) (“DIPN11”) of the Hong Kong Inland Revenue Ordinance (the “HK tax laws”), an investigation normally covers the six years of the assessment prior to the year of the assessment in which the investigation commences. In the case of fraud and willful evasion, the investigation is extended to cover ten years of assessment. According to the PRC Tax Administration and Collection Law, the statute of limitations is three years if the underpayment of taxes is due to computational errors made by the taxpayer or the withholding agent. The statute of limitations is extended to five years under special circumstances, where the underpayment of taxes is more than RMB100,000. In the case of transfer pricing issues, the statute of limitation is ten years. There is no statute of limitation in the case of tax evasion. For the year ended December 31 2022, 2021 and 2020, the Company did not have any material interest or penalties associated with tax positions. The Company did not have any significant unrecognized uncertain tax positions as of December 31, 2022 and 2021. The Company does not expect that its assessment regarding unrecognized tax positions will materially change over the next 12 months.
Segment reporting	s) Segment reporting Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision maker (the “CODM”), which is comprised of certain members of the Company’s management team. Consequently, the Company has determined that it has two reportable operating segments. In addition, the Company’s chief operating decision maker makes resource allocation decisions and assesses performance based on the different business operating results instead of the geographic location operating results. Therefore, no geographical segments are presented.
Earnings per share	t) Earnings per share Earnings (loss) per share is computed in accordance with ASC 260. The two -class -class -A -converted -cumulative Basic earnings (loss) per ordinary share is computed by dividing net income/(loss) attributable to holders of ordinary shares by the weighted average number of ordinary shares outstanding during the period. Diluted earnings/(loss) per share is calculated by dividing net income/(loss) attributable to ordinary shareholders by the weighted average number of ordinary and potential ordinary shares outstanding during the period. Potential ordinary shares include ordinary shares issuable upon the conversion of the preferred shares using the if -converted -dilutive
Share based compensation	u) Share based compensation The Company measures the cost of employee services received in exchange for an award of equity instruments based on the grant -date -line -date
Commitments and contingencies	v) Commitments and contingencies The Company accrues estimated losses from loss contingencies by a charge to income when information available before financial statements are issued or are available to be issued indicates that it is probable that an asset had been impaired, or a liability had been incurred at the date of the financial statements and the amount of the loss can be reasonably estimated. Legal expenses associated with the contingency are expensed as incurred. If a loss contingency is not probable or reasonably estimable, disclosure of the loss contingency is made in the financial statements when it is at least reasonably possible that a material loss could be incurred. As of December 31, 2022 and 2021, there were no contingent liabilities relating to litigations against the Company.
Leases	w) Leases In February 2016, the FASB issued ASU No. 2016 -02 -of-use

Organization (Tables)

Organization (Tables)	12 Months Ended
	Dec. 31, 2022
Organization [Abstract]
Schedule of loss per share before and after the retrospective adjustments	Year Ended December 31, 2020 2021 Before adjustment After adjustment Before adjustment After adjustment Net loss per share attributable to ordinary shareholders of SAI.TECH Global Corporation. – Basic and diluted — — (0.0019 ) (1.4274 ) Weighted average shares used in calculating net loss per share – Basic and diluted 93,061,216 12,447,760 93,061,216 12,447,760
Schedule of major subsidiaries	Name of the entity Date of incorporation Percentage of ownership Place of incorporation Principle business Subsidiaries Superlative Accelerating Infinite Limited February 5, 2021 100% BVI Investment holding Sustainable Available Innovative Limited July 14, 2021 100% BVI Investment holding Silicon Asset Investment Limited March 3, 2021 100% Hong Kong Investment holding Sustainable Available Innovative Pte. Ltd. August 18, 2021 100% Singapore Investment holding Sustainable Available Innovative Asia Ltd August 26, 2021 100% Republic of Kazakhstan Investment holding Hangzhou Dareruohan Technology Co., Ltd. April 2, 2021 100% PRC Research and Development Nanjing SuannengWuxian Techology Co. Ltd. (1) June 4, 2020 100% PRC Research and Development SAI US INC. February 24, 2022 100% U.S. Business (1)
Schedule of consolidated financial statements	As of December 31, 2021 As of December 31, 2022 (US$) (US$) Total Assets — — Total liabilities — —
Schedule of cash flow statement	For the Year Ended 2020 2021 2022 (US$) (US$) (US$) Net revenues 1,957 6,737 — Net income/(loss) 403 (309 ) — Cash flow (used in)/provided by operating activities (1,035 ) 3,112 — Cash flow (used in)/provided by investing activities (759 ) 64 — Cash flow provided by/(used in) financing activities 2,892 (2,500 ) —

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Schedule of currency exchange rates	As of December 31, 2021 As of December 31, 2022 Balance sheet items, except for equity accounts 6.3726 6.9646 For the Year Ended 2020 2021 2022 Items in the consolidated statements of operations and comprehensive (loss)/income, and cash flows 6.9042 6.4000 6.7190
Schedule of estimated useful lives	Furniture, fixture and other equipment 3 years Electronic equipment 3 – 5 years Plant Shorter of useful life or lease term

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Dec. 31, 2022
Inventories [Abstract]
Schedule of inventories	As of December 31, 2021 As of December 31, 2022 US$ US$ Heat recovery cabinet 198 — Accessories — 152 198 152

Deposits, Prepayments and Oth_2

Deposits, Prepayments and Other Current Assets, Net (Tables)	12 Months Ended
	Dec. 31, 2022
Deposits, Prepayments and Other Current Assets, Net [Abstract]
Schedule of prepaid expenses and other current assets	As of December 31, 2021 As of December 31, 2022 US$ US$ Deposits for office spaces leases 133 78 Prepaid purchase of inventory (i) 147 — Staff advances 38 — Deductible VAT tax 617 562 Other current assets (ii) 13 481 Deposits, prepayments and other current assets, cost 948 1,121 Less: bad debt provision — — Deposits, prepayments and other current assets, net 948 1,121 (i) (ii)

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	12 Months Ended
	Dec. 31, 2022
Property and Equipment, Net [Abstract]
Schedule of property and equipment, net	As of December 31, 2021 As of December 31, 2022 US$ US$ Electronic equipment 3,351 2,288 Furniture, fixtures and other equipment 1,034 1,332 Plants 89 83 Property and equipment, cost 4,474 3,703 Less: accumulated depreciation (129 ) (982 ) Impairment — (849 ) 4,345 1,872

Intangible Assets, Net (Tables)

Intangible Assets, Net (Tables)	12 Months Ended
	Dec. 31, 2022
Intangible Assets, Net [Abstract]
Schedule of Finite-Lived Intangible Assets [Table Text Block]	As of As of US$ US$ Purchased software 344 311 Less: accumulated amortization (79 ) (217 ) 265 94

Operating Leases (Tables)

Operating Leases (Tables)	12 Months Ended
	Dec. 31, 2022
Operating Leases [Abstract]
Operating Lease, Lease Income [Table Text Block]	As of December 31, 2021 As of December 31, 2022 US$ US$ Right-of-use assets, net 43 443 Impairment of right-of-use assets — — Right-of-use assets, net 43 443 Operating lease liabilities – current 17 188 Operating lease liabilities – non-current 27 231 Total operating lease liabilities 44 419
Schedule of maturity of operating lease liabilities	US$ 2023 209 2024 202 Total 30 Less: imputed interest (22 ) Present value of lease liabilities 419

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Schedule of income tax expense	For Year Ended 2020 2021 2022 US$ US$ US$ Current tax expense 33 24 — Deferred tax expense 20 — — 53 24 —
Schedule of income tax expense determined at the PRC statutory income tax rate	For Year Ended 2020 2021 2022 US$ US$ US$ Loss before income tax expense 456 (16,680 ) (8,845 ) PRC statutory income tax rate 25 % 25 % 25 % Income tax at PRC statutory income tax rate 114 (4,170 ) (2,211 ) Super deduction of qualified R&D expenditures (65 ) — — Expenses not deductible 3 4,141 265 Change in valuation allowance 1 53 — Change in unrecognized deferred tax asset — — 1,946 Income tax expense 53 24 —
Schedule of deferred tax assets	As of December 31, 2021 As of December 31, 2022 US$ US$ Deferred tax assets 53 — Less, valuation allowance (53 ) — Deferred tax assets, net — —
Schedule of roll-forward of the valuation allowance	For the years ended 2020 2021 2022 US$ US$ US$ Beginning balance — 1 — Deferred tax assets-provision for current year 1 52 — Less, valuation allowance — (53 ) — Deferred tax assets, net 1 — —

Redeemable Preferred Shares (Ta

Redeemable Preferred Shares (Tables)	12 Months Ended
	Dec. 31, 2022
Disclosure Text Block Supplement [Abstract]
Schedule of redeemable preferred shares	For the years ended December 31, 2020 2021 2022 (‘000) (‘000) (‘000) Number of redeemable preferred shares Opening balance — 21,000 37,730 Issuance of Series Angel Preferred Shares (1) 4,000 — — Conversion of Beijing SAI preferred shares due to reorganization (1) — (21,000 ) — Issuance of Series Angel Preferred Shares of the Company due to reorganization (2) — 7,289 — Issuance of Series Pre-A Preferred Shares of the Company due to reorganization (3) 17,000 13,974 — Issuance of Series A Preferred Shares (4) — 16,467 — Conversion into Ordinary Shares (5) (37,730 ) Ending balance 21,000 37,730 0 For the years ended December 31, 2020 2021 2022 (‘000) (‘000) (‘000) Number of redeemable preferred shares Opening balance — 2,928 5,151 Issuance of Series Angel Preferred Shares (1) 975 — — Conversion of Beijing SAI preferred shares due to reorganization (1) — (2,928 ) — Issuance of Series Angel Preferred Shares of the Company due to reorganization (2) — 975 — Issuance of Series Pre-A Preferred Shares of the Company due to reorganization (3) 1,953 1,953 — Issuance of Series A Preferred Shares (4) — 2,223 — Conversion into Ordinary Shares (5) — — (5,151 ) Ending balance 2,928 5,151 — For the years ended 2020 2021 2022 US$ US$ US$ Opening balance — 3,218 12,473 Series Angel Preferred Shares (1) 613 — — Series A Preferred Shares (2) 2,605 8,156 — Accretion during the period (3) — 1,064 — Currency translation adjustment — 35 — Conversion into Ordinary Shares (4) — — (12,473 ) Ending balance 3,218 12,473 —

Share-based Payment (Tables)

Share-based Payment (Tables)	12 Months Ended
	Dec. 31, 2022
Share-based Payment [Abstract]
Schedule of unvested time-based restricted common stock	Number of Shares Unvested at December 31, 2021 1,812,663 Vested 382,250 Granted 981,000 Forfeited 38,750 Unvested at December 31, 2022 410,663

Concentration of Risk (Tables)

Concentration of Risk (Tables)	12 Months Ended
	Dec. 31, 2022
Concentration of Risk [Abstract]
Schedule of information about the Group’s concentration of customers as of and for the years ended	A B C D E F G H I J K L M N O P Q R S T Year Ended December 31, 2022 Revenues, customer concentration — — — — — 12 % — — — — — — — 28 % 20 % 28 % — — — — Year Ended December 31, 2022 Purchases, supplier concentration — — — — — — — — — — — — 11 % — — — * 28 % 27 % 21 % As of December 31, 2022 Accounts receivable, customer concentration — — — — — — — — — — — — — — * 96 % — — — — As of December 31, 2022 Accounts payable, supplier concentration — — — — — — — — — — — — — — — — 16 % — — — A B C D E F G H I J Year Ended December 31, 2021 Revenues, customer concentration 20 % 14 % 36 % 11 % * * — — — — Year Ended December 31, 2021 Purchases, supplier concentration — — — — — — 19 % 16 % * * As of December 31, 2021 Accounts receivable, customer concentration * — — — — 100 % — — — — As of December 31, 2021 Accounts payable, supplier concentration — — — — — — — — — 99 %

Earnings_(Loss) Per Share (Tabl

Earnings/(Loss) Per Share (Tables)	12 Months Ended
	Dec. 31, 2022
Earnings Per Share [Abstract]
Schedule of basic and diluted loss per ordinary share	For the year ended December 31, 2020 2021 2022 US$ US$ US$ Numerators Net profit/(loss) 403 (16,704 ) (8,845 ) Less: Net income allocated to Series Angel and Series Pre-A preferred share (403 ) — — Accretion on mezzanine equities — (1,064 ) — Adjusted net profit (loss) — (17,768 ) (8,845 ) Denominators Weighted average number of ordinary shares outstanding-Basic and diluted* 12,447,760 12,447,760 19,224,614 Loss per ordinary share-Basic and diluted — (1.4274 ) (0.4601 ) *

Amount Due from_(to) Related _2

Amount Due from/(to) Related Parties (Tables)	12 Months Ended
	Dec. 31, 2022
Amount Due from/(to) Related Parties [Abstract]
Schedule of related party transactions summarized by different natures	Name of the related parties Relation with the Company Mr. Risheng Li Founder, chairman of board of director, chief executive officer Mr. Liedong Wang Senior executive officer Mr. Dahan Bao Senior executive officer
Schedule of amount due from related parties	As of December 31, 2021 As of December 31, 2022 US$ US$ Amount due from related parties Mr. Risheng Li — — — — As of December 31, 2021 As of December 31, 2022 US$ US$ Amount due to related parties Beijing SAI 30 — 30 —
Schedule of related party transactions summarized by different natures	For the year ended December 31, 2020 2021 2022 US$ US$ US$ Settlement of advance to related parties for daily operation Mr. Risheng Li 406 235 — Mr. Liedong Wang 396 415 — Mr. Dahan Bao 31 30 — Repayment from related parties Mr. Risheng Li 203 36 — Mr. Liedong Wang 22 14 — Mr. Dahan Bao — — —

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2022
Segment Reporting [Abstract]
Schedule of reportable segments	For the year ended December 31, 2020 2021 2022 US$ US$ US$ Reportable segment revenue: Revenue – equipment & hosting $ 1,957 $ 9,558 $ 9,929 Revenue – mining pool — 7,480 676 Revenue – mining — — 33 Total segment and consolidated revenue 1,957 17,038 10,638 Reportable segment cost of revenue Cost of revenues – equipment & hosting 1,055 8,382 8,802 Cost of revenues – mining pool — 7,392 676 Cost of revenues – mining 20 Total segment and consolidated cost of revenues 1,055 15,774 9,498 Reconciling Items: Selling, general and administrative expenses (232 ) (17,162 ) (7,178 ) Research development expenses (348 ) (419 ) (476 ) Impairment of long-lived assets (40 ) (135 ) (951 ) Other income/(expense) 174 (228 ) (1,380 ) Income tax expense (53 ) (24 ) — Net profit/(loss) $ 403 $ (16,704 ) $ (8,845 )

Parent Only Information (Tables

Parent Only Information (Tables)	12 Months Ended
	Dec. 31, 2022
Parent Only Information [Abstract]
Schedule of condensed balance sheets	As of As of US$ US$ Assets Cash 3,311 9,376 Amount due from subsidiaries and VIE — — Accounts receivable 1,174 57 Other receivables — 474 Amounts due from related parties 7,400 16,407 Long-term investment 100 50 Investments in subsidiaries and VIE — — Cryptocurrencies 4 18 Operating lease right-of-use assets 43 27 Total Assets 12,032 26,409 Accounts payable 1,259 163 Accrued payroll — 60 Operating lease liabilities-current 17 11 Operating lease liabilities-non-current 27 17 Investments in subsidiaries and VIE — 5,844 Total Liabilities 1,303 6,095 Mezzanine equities 12,473 — Equity: *Class A Ordinary shares ($0.0001 par value; 330,369,366 shares authorized, 13,315,903 and 2,544,148 shares issued and outstanding in December 31, 2022 and December 31, 2021) 1 1 *Class B Ordinary shares ($0.0001 par value; 9,630,634 shares authorized and outstanding in December 31, 2022 and December 31, 2021) 1 1 Subscription receivable (9 ) — Additional paid-in capital 12,928 46,030 Statutory reserves — — Accumulated deficit (14,747 ) (25,257 ) Accumulated other comprehensive income/(loss) 82 (461 ) Total equity (1,744 ) 20,314 Total Liabilities and Equity 12,032 26,409 *
Schedule of condensed statements of operations	For the year ended 2020 2021 2022 US$ US$ US$ Revenue — 2,527 2,608 Cost of revenue — (2,302 ) (2,268 ) General and administrative expenses — (508 ) (3,502 ) Sales and marketing expenses — (14,464 ) (150 ) R&D expenses (6 ) Asset impairment loss (19 ) Other expense, net (885 ) Share of income/(loss) from subsidiaries and VIE 403 (909 ) (4,623 ) Net income/(loss) 403 (15,656 ) (8,845 )
Schedule of condensed statements of cash flows	For the year ended 2020 2021 2022 US$ US$ US$ Cash flows used in operating activities — (209 ) (4,579 ) Investment in subsidiaries and VIE (2,923 ) (7,500 ) — Collection of due from/(increase in due from) subsidiaries and VIE — 2,828 (9,007 ) Cash flows used in investing activities (2,923 ) (4,672 ) (9,007 ) Proceeds from issuance of redeemable preferred shares 2,923 8,191 — Reverse Recapitalization — — 19,652 Cash flows from financing activities 2,923 8,191 19,652 Effect of exchange rate changes — — — Net change in cash and cash equivalents — 3,310 6,066 Cash and cash equivalents at beginning of the period — — 3,310 Cash and cash equivalents at end of the period — 3,310 9,376

Organization (Details)

Organization (Details) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
	Apr. 29, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Organization (Details) [Line Items]
Exchange ratio (in Dollars per share)	$ 0.13376
Recapitalization transaction (in Dollars)	$ 188,000
Recapitalization transaction per share (in Dollars per share)	$ 10
Total ordinary shares outstanding	140,551,496	0	37,730,000	21,000,000
Shares received	272,247
Warrants purchase	2,244,493
Business combination description		the Business Combination, holders of 28,000,000 SAITECH Limited Class A Ordinary Shares, remaining after the redemption of 24,254,751 shares, received 3,745,249 Class A Ordinary Shares, holders of 2,040,816 SAITECH Limited Series Seed Preferred Shares, remaining after the redemption of 1,767,838 shares, received 272,978 Class A Ordinary Shares, holders of 7,288,630 SAITECH Limited Series Angel Preferred Shares, remaining after the redemption of 6,313,711 shares, received 974,919 Class A Ordinary Shares, holders of 14,599,115 SAITECH Limited Series Pre-A Preferred Shares, remaining after the redemption of 12,646,352 shares, received 1,952,763 Class A Ordinary Shares, and holders of 16,622,935 SAITECH Limited Series A Preferred Shares, remaining after the redemption of 14,399,469 shares, received 2,223,466 Class A Ordinary Shares.
Shares issuable upon exercise of warrants to purchase		2,244,493
Exercise price per share (in Dollars per share)		$ 11.5
Par value of ordinary shares (in Dollars per share)		$ 0.0001
Subscription receivable (in Dollars)			$ 9
Weighted average number of ordinary shares outstanding			93,061,216	18,800,009
TradeUP Warrants [Member]
Organization (Details) [Line Items]
Total ordinary shares outstanding	2,244,493
Class A Ordinary Shares [Member]
Organization (Details) [Line Items]
Total ordinary shares outstanding	3,492,031		5,151,000	2,928,000
Redemption shares	2,071,735
Shares received	3,492,031
Aggregate shares issued		12,933,653
Aggregate shares outstanding		12,933,653
Par value of ordinary shares (in Dollars per share)		$ 0.0001	$ 0.0001
Class B Ordinary Shares [Member]
Organization (Details) [Line Items]
Total ordinary shares outstanding	272,247
Par value of ordinary shares (in Dollars per share)		$ 0.0001	$ 0.0001

Organization (Details) - Schedu

Organization (Details) - Schedule of loss per share before and after the retrospective adjustments - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Before Adjustment [Member]
Net loss per share attributable to ordinary shareholders of SAI.TECH Global Corporation.
Basic	$ (0.0019)
Weighted average shares used in calculating net loss per share
Basic	93,061,216	93,061,216
After Adjustment [Member]
Net loss per share attributable to ordinary shareholders of SAI.TECH Global Corporation.
Basic	$ (1.4274)
Weighted average shares used in calculating net loss per share
Basic	12,447,760	12,447,760

Organization (Details) - Sche_2

Organization (Details) - Schedule of loss per share before and after the retrospective adjustments (Parentheticals) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Before Adjustment [Member]
Organization (Details) - Schedule of loss per share before and after the retrospective adjustments (Parentheticals) [Line Items]
Diluted	$ (0.0019)
Diluted	93,061,216	93,061,216
After Adjustment [Member]
Organization (Details) - Schedule of loss per share before and after the retrospective adjustments (Parentheticals) [Line Items]
Diluted	$ (1.4274)
Diluted	12,447,760	12,447,760

Organization (Details) - Sche_3

Organization (Details) - Schedule of major subsidiaries	12 Months Ended
	Dec. 31, 2022
Superlative Accelerating Infinite Limited [Member]
Subsidiaries
Date of incorporation	Feb. 05, 2021
Percentage of ownership	100%
Place of incorporation	BVI
Principle business activities	Investment holding
Sustainable Available Innovative Limited [Member]
Subsidiaries
Date of incorporation	Jul. 14, 2021
Percentage of ownership	100%
Place of incorporation	BVI
Principle business activities	Investment holding
Silicon Asset Investment Limited [Member]
Subsidiaries
Date of incorporation	Mar. 03, 2021
Percentage of ownership	100%
Place of incorporation	Hong Kong
Principle business activities	Investment holding
Sustainable Available Innovative Pte. Ltd. [Member]
Subsidiaries
Date of incorporation	Aug. 18, 2021
Percentage of ownership	100%
Place of incorporation	Singapore
Principle business activities	Investment holding
Sustainable Available Innovative Asia Ltd [Member]
Subsidiaries
Date of incorporation	Aug. 26, 2021
Percentage of ownership	100%
Place of incorporation	Republic of Kazakhstan
Principle business activities	Investment holding
Hangzhou Dareruohan Technology Co., Ltd. [Member]
Subsidiaries
Date of incorporation	Apr. 02, 2021
Percentage of ownership	100%
Place of incorporation	PRC
Principle business activities	Research and Development
Nanjing SuannengWuxian Techology Co. Ltd. [Member]
Subsidiaries
Date of incorporation	Jun. 04, 2020	[1]
Percentage of ownership	100%	[1]
Place of incorporation	PRC	[1]
Principle business activities	Research and Development	[1]
SAI US INC. [Member]
Subsidiaries
Date of incorporation	Feb. 24, 2022
Percentage of ownership	100%
Place of incorporation	U.S.
Principle business activities	Business
[1]On August 9, 2021, the Company completed the acquisition of Nanjing SuannengWuxian Techology Co. Ltd. (“Nanjing SuannengWuxian”), an entity under common control by one of our principal shareholders. Nanjing SuannengWuxian provides crypto mining service to its customers.

Organization (Details) - Sche_4

Organization (Details) - Schedule of consolidated financial statements - Parent Company [Member] - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Condensed Financial Statements, Captions [Line Items]
Total Assets
Total liabilities

Organization (Details) - Sche_5

Organization (Details) - Schedule of cash flow statement - Parent Company [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Organization (Details) - Schedule of cash flow statement [Line Items]
Net revenues		$ 6,737	$ 1,957
Net income/(loss)		(309)	403
Cash flow (used in)/provided by operating activities		3,112	(1,035)
Cash flow (used in)/provided by investing activities		64	(759)
Cash flow provided by/(used in) financing activities		$ (2,500)	$ 2,892

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2020 CNY (¥)
Schedule Of Currency Exchange Rates [Abstract]
Net loss	$ 8,800
Net cash outflow in operating activities	5,000
Current liabilities	18,100
Cash and cash equivalents	11,200
Accumulated deficit	25,300
Cryptocurrency impairment loss	64
Loss from disposal of property and equipment, net	$ 718	317
Estimated useful lives	3 years
Impairment loss on long-lived assets	$ 912
Underpayment of taxes (in Yuan Renminbi) | ¥				¥ 100,000

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) - Schedule of currency exchange rates - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Schedule Of Currency Exchange Rates Abstract
Balance sheet items, except for equity accounts	$ 6.9646	$ 6.3726
Items in the consolidated statements of operations and comprehensive (loss)/income, and cash flows	$ 6.719	$ 6.4	$ 6.9042

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Details) - Schedule of estimated useful lives	12 Months Ended
	Dec. 31, 2022
Furniture, Fixture and Other Equipment [Member]
Public Utility, Property, Plant and Equipment [Line Items]
Estimated useful life	3 years
Electronic Equipment [Member] | Minimum [Member]
Public Utility, Property, Plant and Equipment [Line Items]
Estimated useful life	3 years
Electronic Equipment [Member] | Maximum [Member]
Public Utility, Property, Plant and Equipment [Line Items]
Estimated useful life	5 years
Plant [Member]
Public Utility, Property, Plant and Equipment [Line Items]
Estimated useful plant	Shorter of useful life or lease term

Inventories (Details) - Schedul

Inventories (Details) - Schedule of inventories - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Inventories (Details) - Schedule of inventories [Line Items]
Inventories total	$ 152	$ 198
Heat Recovery Cabinet [Member]
Inventories (Details) - Schedule of inventories [Line Items]
Inventories total		198
Accessories [Member]
Inventories (Details) - Schedule of inventories [Line Items]
Inventories total	$ 152

Deposits, Prepayments and Oth_3

Deposits, Prepayments and Other Current Assets, Net (Details) - Schedule of prepaid expenses and other current assets - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021
Schedule Of Prepaid Expenses And Other Current Assets Abstract
Deposits for office spaces leases		$ 78	$ 133
Prepaid purchase of inventory	[1]		147
Staff advances			38
Deductible VAT tax		562	617
Other current assets	[2]	481	13
Deposits, prepayments and other current assets, cost		1,121	948
Less: bad debt provision
Deposits, prepayments and other current assets, net		$ 1,121	$ 948
[1]Prepaid purchase of inventory mainly consists of the advance deposit to suppliers of mining equipment.[2]Other current assets mainly consist of the advance payment to service providers and deposit to the power supplier in connection with the Company’s hosting service.

Property and Equipment, Net (De

Property and Equipment, Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Depreciation expenses	$ 1,506	$ 152	$ 34

Property and Equipment, Net (_2

Property and Equipment, Net (Details) - Schedule of property and equipment, net - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property and equipment, cost	$ 3,703	$ 4,474
Less: accumulated depreciation	(982)	(129)
Impairment	(849)
Property and equipment, net	1,872	4,345
Electronic Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, cost	2,288	3,351
Furniture, Fixtures and Other Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, cost	1,332	1,034
Plants [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, cost	$ 83	$ 89

Intangible Assets, Net (Details

Intangible Assets, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expenses	$ 138	$ 157	$ 49

Intangible Assets, Net (Detai_2

Intangible Assets, Net (Details) - Intangible asset, net, consisted of the following - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Intangible Asset Net Consisted Of The Following [Abstract]
Purchased software	$ 311	$ 344
Less: accumulated amortization	(217)	(79)
Intangible assets, net	$ 94	$ 265

Operating Leases (Details)

Operating Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Operating Leases (Details) [Line Items]
Short-term lease costs	$ 139	$ 8
Operating lease liabilities	$ 139
Weighted average remaining lease term	2 years 1 month 6 days
Weighted average discount rate	4.60%
Minimum [Member]
Operating Leases (Details) [Line Items]
Remaining lease terms	1 year 6 months
Maximum [Member]
Operating Leases (Details) [Line Items]
Remaining lease terms	3 years

Operating Leases (Details) - Sc

Operating Leases (Details) - Schedule of operating lease related assets and liabilities - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Schedule of Operating Lease Related Assets and Liabilities [Abstract]
Right-of-use assets, net	$ 443	$ 43
Impairment of right-of-use assets
Operating lease liabilities – current	188	17
Operating lease liabilities – non-current	231	27
Total operating lease liabilities	$ 419	$ 44

Operating Leases (Details) - _2

Operating Leases (Details) - Schedule of maturity of operating lease liabilities	Dec. 31, 2022 USD ($)
Schedule of Maturity of Operating Lease Liabilities [Abstract]
2023	$ 209
2024	202
Total	30
Less: imputed interest	(22)
Present value of lease liabilities	$ 419

Income Taxes (Details)

Income Taxes (Details) - HKD ($) $ in Millions	9 Months Ended	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2018
Income Taxes (Details) [Line Items]
Corporate income tax, percentage		8.25%
Income tax profit (in Dollars)		$ 2
Subsequent Profits		16.50%
Domestic and foreign income tax rate		25%
Income tax rate VIE and VIE subsidiary	25%
Percentage of tax rate		25%	25%	25%
Income tax rate					21%
Singapore [Member]
Income Taxes (Details) [Line Items]
Percentage of tax rate		17%	17%	17%
Mainland, PRC [Member]
Income Taxes (Details) [Line Items]
Domestic and foreign income tax rate		25%

Income Taxes (Details) - Schedu

Income Taxes (Details) - Schedule of income tax expense - United States (“U.S.”) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Taxes (Details) - Schedule of income tax expense [Line Items]
Current tax expense		$ 24	$ 33
Deferred tax expense			20
Total income tax expense		$ 24	$ 53

Income Taxes (Details) - Sche_2

Income Taxes (Details) - Schedule of income tax expense determined at the PRC statutory income tax rate - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Schedule of Income Tax Expense Determined at the PRC Statutory Income Tax Rate [Abstract]
Loss before income tax expense	$ (8,845)	$ (16,680)	$ 456
PRC statutory income tax rate	25%	25%	25%
Income tax at PRC statutory income tax rate	$ (2,211)	$ (4,170)	$ 114
Super deduction of qualified R&D expenditures			(65)
Expenses not deductible	265	4,141	3
Change in valuation allowance		53	1
Change in unrecognized deferred tax asset	1,946
Income tax expense		$ 24	$ 53

Income Taxes (Details) - Sche_3

Income Taxes (Details) - Schedule of deferred tax assets - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Schedule of Deferred Tax Assets [Abstract]
Deferred tax assets		$ 53
Less, valuation allowance		(53)
Deferred tax assets, net

Income Taxes (Details) - Sche_4

Income Taxes (Details) - Schedule of roll-forward of the valuation allowance - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Schedule of Roll Forward of the Valuation Allowance [Abstract]
Beginning balance		$ 1
Deferred tax assets-provision for current year		52	1
Less, valuation allowance		(53)
Deferred tax assets, net			$ 1

Redeemable Preferred Shares (De

Redeemable Preferred Shares (Details)				12 Months Ended
	Sep. 30, 2022 USD ($)	Sep. 09, 2022 shares	Apr. 22, 2021 USD ($) $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2022 CNY (¥) shares	Apr. 29, 2022 $ / shares	Dec. 31, 2021 USD ($) shares	Dec. 31, 2020 USD ($)	Mar. 28, 2020 USD ($)	Mar. 28, 2020 CNY (¥)
Redeemable Preferred Shares (Details) [Line Items]
Preferred shares, issued			9,864,312
Issuance price per share (in Dollars per share) | $ / shares						$ 0.13376
Preferred shares, holding percentage			7.99%
Duration of redemption value				6 years	6 years
Interest rate percentage				10%	10%
Mezzanine equity amount (in Dollars) | $							$ 12,473,000
Number of shares				$ 0.15	¥ 1
shares unit				1	1
Warrants exercise (in Dollars) | $	$ 1,860,000
Total consideration									$ 613,000	¥ 4,000,000
Series A Preferred Shares [Member]
Redeemable Preferred Shares (Details) [Line Items]
Preferred shares, issued			16,466,767
Preferred shares, par value (in Dollars per share) | $ / shares			$ 0.0001
Aggregate consideration amount (in Dollars) | $			$ 8,156,000
Issuance price per share (in Dollars per share) | $ / shares			$ 0.4953
Series Pre-A Preferred Stock [Member]
Redeemable Preferred Shares (Details) [Line Items]
Preferred shares, issued							4,110,130
Preferred shares, par value (in Dollars per share) | $ / shares				$ 0.0001
Preferred shares, authorized				13,974,442
Shares issued		9,800,000
Series Angel Preferred Shares [Member]
Redeemable Preferred Shares (Details) [Line Items]
Preferred shares, issued				7,288,630
Preferred shares, par value (in Dollars per share) | $ / shares				$ 0.0001
Preferred shares, authorized				7,288,630
Series Pre-A Preferred Shares [Member]
Redeemable Preferred Shares (Details) [Line Items]
Preferred shares, issued				9,864,312
Series Angel Preferred Shares [Member]
Redeemable Preferred Shares (Details) [Line Items]
Equity interest, percentage									6.67%	6.67%
Beijing SAI [Member] | Series Pre-A Preferred Stock [Member]
Redeemable Preferred Shares (Details) [Line Items]
Preferred shares, issued			9,864,312
Beijing SAI [Member] | Series A Preferred Stock [Member]
Redeemable Preferred Shares (Details) [Line Items]
Preferred shares, issued			16,466,767	16,466,767
Preferred shares, par value (in Dollars per share) | $ / shares			$ 0.0001	$ 0.0001
Preferred shares, authorized				17,247,608
Total consideration | $			$ 2,605,000

Redeemable Preferred Shares (_2

Redeemable Preferred Shares (Details) - Schedule of redeemable preferred shares - shares		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Number of redeemable preferred shares
Opening balance		37,730,000	21,000,000
Issuance of Series Angel Preferred Shares	[1]			4,000,000
Conversion of Beijing SAI preferred shares due to reorganization	[1]		(21,000,000)
Issuance of Series Angel Preferred Shares of the Company due to reorganization	[2]		7,289,000
Issuance of Series Pre-A Preferred Shares of the Company due to reorganization	[3]		13,974,000	17,000,000
Issuance of Series A Preferred Shares	[4]		16,467,000
Conversion into Ordinary Shares	[5]	(37,730,000)
Ending balance		0	37,730,000	21,000,000
Mezzanine equities [Member]
Number of redeemable preferred shares
Opening balance		12,473,000	3,218,000
Ending balance			12,473,000	3,218,000
Series Angel Preferred Shares	[6]			613,000
Series A Preferred Shares	[7]		8,156,000	2,605,000
Accretion during the period	[8]		1,064,000
Currency translation adjustment			35,000
Conversion into Ordinary Shares	[9]	(12,473,000)
Common Class A [Member]
Number of redeemable preferred shares
Opening balance		5,151,000	2,928,000
Issuance of Series Angel Preferred Shares	[1]			975,000
Conversion of Beijing SAI preferred shares due to reorganization	[1]		(2,928,000)
Issuance of Series Angel Preferred Shares of the Company due to reorganization	[2]		975,000
Issuance of Series Pre-A Preferred Shares of the Company due to reorganization	[3]		1,953,000	1,953,000
Issuance of Series A Preferred Shares	[4]		2,223,000
Conversion into Ordinary Shares	[5]	(5,151,000)
Ending balance			5,151,000	2,928,000
[1]The investment in a PRC entity is not presented in the form of single unit share, but the amount and percentage in paid-in capital of the entity. The number of shares presented is under the assumption that RMB1 ($0.15) is equal to 1 unit of share.[2]Series Angel Preferred Shares have a par value of $0.0001, with 7,288,630 shares authorized and issued.[3]Series Pre-A Preferred Shares have a par value of $0.0001, with 13,974,442 shares authorized. The number of Series Pre-A Preferred Shares issued during 2021 includes 4,110,130 Series Pre-A Preferred Shares issued at reorganization and 9,864,312 Series Pre-A Preferred Shares to be issued upon exercise of the warrants that were granted to three investors of Beijing SAI, as the exercise of these warrants were considered to be administrative procedures and the Company does not expect any circumstances under which those shares would not be issued. The $1.86 million for the exercise of the warrants is considered to be paid by the warrant holders at their Series Pre-A investment on Beijing SAI in September 2020. The administrative procedures for the exercise of the warrants have been completed and the funds were received by SAI on September 9, 2021, and the 9.8 million Series Pre-A Preferred Shares were issued on the same date. The Company considered the Series Pre-A Preferred Shares should be retrospectively stated in the financial statements as if they had been issued on September 2020 and were considered outstanding as of the balance sheet date.[4]Series A Preferred Shares has a par value of $0.0001, with 17,247,608 shares authorized and 16,466,767 shares issued.[5]The redeemable preferred shares are transferred to Class A Ordinary Shares following the Business Combination, see Note 1a for more information.[6]The issuance of Series Angel Preferred Shares on March 28, 2020, pursuant to which 6.67% of the equity interest of Beijing SAI were transferred for a total consideration of RMB4,000 ($613).[7]The issuance of Series A Preferred Shares of 16,466,767 on April 22, 2021, with the par value of $0.0001, for the total consideration of $2,605.[8]Accretion provided for the redemption rights for Series Angel, Series Pre-A and Series A Preferred Shares to the redemption value.[9]Since the redeemable preferred shares are transferred into Class A Ordinary Shares following the Business Combination, there is no redeemable value of those shares, see Note 1a for more information

Restricted Net Assets (Details)

Restricted Net Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Restricted Net Assets (Details) [Line Items]
Net assets (in Dollars)	$ 10,358	$ 7,510
Geographic Distribution, Foreign [Member]
Restricted Net Assets (Details) [Line Items]
Annual after tax profit, percentage	10%
Registered capital	50%
Geographic Distribution, Domestic [Member]
Restricted Net Assets (Details) [Line Items]
Annual after tax profit, percentage	10%
Registered capital	50%

Employee Defined Contribution_2

Employee Defined Contribution Plan (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Employee Defined Contribution Plan [Abstract]
Total amount of employee benefits	$ 257	$ 93	$ 9

Share-based Payment (Details)

Share-based Payment (Details) - USD ($) $ / shares in Units, $ in Thousands		1 Months Ended	12 Months Ended
	Sep. 08, 2021	Apr. 22, 2022	Dec. 31, 2021	Dec. 31, 2022
Share-based Payment (Details) [Line Items]
Purchase price per share (in Dollars per share)			$ 0.0001
Sales and marketing expenses (in Dollars)			$ 14,457
Ordinary shares percentage		3%
Grant shares				410,663
Class A Ordinary Shares [Member]
Share-based Payment (Details) [Line Items]
Restricted shares	8,979,600
Common stock, shares issued		1,812,663

Share-based Payment (Details) -

Share-based Payment (Details) - Schedule of unvested time-based restricted common stock	12 Months Ended
	Dec. 31, 2022 shares
Schedule Of Unvested Time Based Restricted Common Stock Abstract
Unvested Beginning balance	1,812,663
Vested	382,250
Granted	981,000
Forfeited	38,750
Unvested Ending balance	410,663

Concentration of Risk (Details)

Concentration of Risk (Details)	12 Months Ended
	Dec. 31, 2022
Customer Concentration Risk [Member]
Concentration of Risk (Details) [Line Items]
Concentration of customers percentage	10%

Concentration of Risk (Detail_2

Concentration of Risk (Details) - Schedule of information about the Group’s concentration of customers as of and for the years ended		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021
Customer A [Member]
Concentration Risk [Line Items]
Revenues, customer concentration			20%
Year Ended December 31, 2022
Purchases, supplier concentration
As of December 31, 2022
Accounts receivable, customer concentration				[1]
As of December 31, 2022
Accounts payable, supplier concentration
Customer B [Member]
Concentration Risk [Line Items]
Revenues, customer concentration			14%
Year Ended December 31, 2022
Purchases, supplier concentration
As of December 31, 2022
Accounts receivable, customer concentration
As of December 31, 2022
Accounts payable, supplier concentration
Customer C [Member]
Concentration Risk [Line Items]
Revenues, customer concentration			36%
Year Ended December 31, 2022
Purchases, supplier concentration
As of December 31, 2022
Accounts receivable, customer concentration
As of December 31, 2022
Accounts payable, supplier concentration
Customer D [Member]
Concentration Risk [Line Items]
Revenues, customer concentration			11%
Year Ended December 31, 2022
Purchases, supplier concentration
As of December 31, 2022
Accounts receivable, customer concentration
As of December 31, 2022
Accounts payable, supplier concentration
Customer E [Member]
Concentration Risk [Line Items]
Revenues, customer concentration				[1]
Year Ended December 31, 2022
Purchases, supplier concentration
As of December 31, 2022
Accounts receivable, customer concentration
As of December 31, 2022
Accounts payable, supplier concentration
Customer F [Member]
Concentration Risk [Line Items]
Revenues, customer concentration		12%		[1]
Year Ended December 31, 2022
Purchases, supplier concentration
As of December 31, 2022
Accounts receivable, customer concentration			100%
As of December 31, 2022
Accounts payable, supplier concentration
Customer G [Member]
Concentration Risk [Line Items]
Revenues, customer concentration
Year Ended December 31, 2022
Purchases, supplier concentration			19%
As of December 31, 2022
Accounts receivable, customer concentration
As of December 31, 2022
Accounts payable, supplier concentration
Customer H [Member]
Concentration Risk [Line Items]
Revenues, customer concentration
Year Ended December 31, 2022
Purchases, supplier concentration			16%
As of December 31, 2022
Accounts receivable, customer concentration
As of December 31, 2022
Accounts payable, supplier concentration
Customer I [Member]
Concentration Risk [Line Items]
Revenues, customer concentration
Year Ended December 31, 2022
Purchases, supplier concentration				[1]
As of December 31, 2022
Accounts receivable, customer concentration
As of December 31, 2022
Accounts payable, supplier concentration
Customer J [Member]
Concentration Risk [Line Items]
Revenues, customer concentration
Year Ended December 31, 2022
Purchases, supplier concentration				[1]
As of December 31, 2022
Accounts receivable, customer concentration
As of December 31, 2022
Accounts payable, supplier concentration			99%
Customer K [Member]
Concentration Risk [Line Items]
Revenues, customer concentration
Year Ended December 31, 2022
Purchases, supplier concentration
As of December 31, 2022
Accounts receivable, customer concentration
As of December 31, 2022
Accounts payable, supplier concentration
Customer L [Member]
Concentration Risk [Line Items]
Revenues, customer concentration
Year Ended December 31, 2022
Purchases, supplier concentration
As of December 31, 2022
Accounts receivable, customer concentration
As of December 31, 2022
Accounts payable, supplier concentration
Customer M [Member]
Concentration Risk [Line Items]
Revenues, customer concentration
Year Ended December 31, 2022
Purchases, supplier concentration		11%
As of December 31, 2022
Accounts receivable, customer concentration
As of December 31, 2022
Accounts payable, supplier concentration
Customer N [Member]
Concentration Risk [Line Items]
Revenues, customer concentration		28%
Year Ended December 31, 2022
Purchases, supplier concentration
As of December 31, 2022
Accounts receivable, customer concentration
As of December 31, 2022
Accounts payable, supplier concentration
Customer O [Member]
Concentration Risk [Line Items]
Revenues, customer concentration		20%
Year Ended December 31, 2022
Purchases, supplier concentration
As of December 31, 2022
Accounts receivable, customer concentration	[1]
As of December 31, 2022
Accounts payable, supplier concentration
Customer P [Member]
Concentration Risk [Line Items]
Revenues, customer concentration		28%
Year Ended December 31, 2022
Purchases, supplier concentration
As of December 31, 2022
Accounts receivable, customer concentration		96%
As of December 31, 2022
Accounts payable, supplier concentration
Customer Q [Member]
Concentration Risk [Line Items]
Revenues, customer concentration
Year Ended December 31, 2022
Purchases, supplier concentration	[1]
As of December 31, 2022
Accounts receivable, customer concentration
As of December 31, 2022
Accounts payable, supplier concentration		16%
Customer R [Member]
Concentration Risk [Line Items]
Revenues, customer concentration
Year Ended December 31, 2022
Purchases, supplier concentration		28%
As of December 31, 2022
Accounts receivable, customer concentration
As of December 31, 2022
Accounts payable, supplier concentration
Customer S [Member]
Concentration Risk [Line Items]
Revenues, customer concentration
Year Ended December 31, 2022
Purchases, supplier concentration		27%
As of December 31, 2022
Accounts receivable, customer concentration
As of December 31, 2022
Accounts payable, supplier concentration
Customer T [Member]
Concentration Risk [Line Items]
Revenues, customer concentration
Year Ended December 31, 2022
Purchases, supplier concentration		21%
As of December 31, 2022
Accounts receivable, customer concentration
As of December 31, 2022
Accounts payable, supplier concentration
[1]Less than 10%.

Earnings_(Loss) Per Share (Deta

Earnings/(Loss) Per Share (Details) - Schedule of basic and diluted loss per ordinary share - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Numerators
Net profit/(loss)		$ (8,845)	$ (16,704)	$ 403
Less: Net income allocated to Series Angel and Series Pre-A preferred share				(403)
Accretion on mezzanine equities			(1,064)
Adjusted net profit (loss)		$ (8,845)	$ (17,768)
Denominators
Weighted average number of ordinary shares outstanding-Basic and diluted (in Shares)	[1],[2]	19,224,614	12,447,760	12,447,760
Loss per ordinary share-Basic and diluted (in Dollars per share)	[2]	$ (0.4601)	$ (1.4274)
[1]The ordinary shares are presented on a retroactive basis to reflect the Company’s share consolidation on April 29, 2022[2]The shares and per share data are presented on a retroactive basis to reflect the reorganization.

Earnings_(Loss) Per Share (De_2

Earnings/(Loss) Per Share (Details) - Schedule of basic and diluted loss per ordinary share (Parentheticals) - $ / shares		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Schedule Of Basic And Diluted Loss Per Ordinary Share Abstract
Weighted average number of ordinary shares outstanding diluted	[1],[2]	19,224,614	12,447,760	12,447,760
Loss per ordinary share-diluted	[2]	$ (0.4601)	$ (1.4274)
[1]The ordinary shares are presented on a retroactive basis to reflect the Company’s share consolidation on April 29, 2022[2]The shares and per share data are presented on a retroactive basis to reflect the reorganization.

Amount Due from_(to) Related _3

Amount Due from/(to) Related Parties (Details) - Schedule of the related parties with whom the Company conducted transactions	12 Months Ended
	Dec. 31, 2022
Mr. Risheng Li [Member]
Related Party Transaction [Line Items]
Relation with the Company	Founder, chairman of board of director, chief executive officer
Mr. Liedong Wang [Member]
Related Party Transaction [Line Items]
Relation with the Company	Senior executive officer
Mr. Dahan Bao [Member]
Related Party Transaction [Line Items]
Relation with the Company	Senior executive officer

Amount Due from_(to) Related _4

Amount Due from/(to) Related Parties (Details) - Schedule of amount due from related parties - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Amount due from related parties
Amount due from related parties
Amount due to related parties
Amount due to related parties		30
Mr. Risheng Li [Member]
Amount due from related parties
Amount due from related parties
Beijing SAI [Member]
Amount due to related parties
Amount due to related parties		$ 30

Amount Due from_(to) Related _5

Amount Due from/(to) Related Parties (Details) - Schedule of related party transactions summarized by different natures - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Mr. Risheng Li [Member]
Settlement of advance to related parties for daily operation
Settlement of advance to related parties for daily operation		$ 235	$ 406
Repayment from related parties
Repayment from related parties		36	203
Mr. Liedong Wang [Member]
Settlement of advance to related parties for daily operation
Settlement of advance to related parties for daily operation		415	396
Repayment from related parties
Repayment from related parties		14	22
Mr. Dahan Bao [Member]
Settlement of advance to related parties for daily operation
Settlement of advance to related parties for daily operation		30	31
Repayment from related parties
Repayment from related parties

Segment Information (Details)

Segment Information (Details)	12 Months Ended
	Dec. 31, 2022
Segment Information (Details) [Line Items]
Number of reportable segments	2
CODM [Member]
Segment Information (Details) [Line Items]
Number of reportable segments	3
Cost of Revenue [Member]
Segment Information (Details) [Line Items]
Number of reportable segments	2

Segment Information (Details) -

Segment Information (Details) - Schedule of reportable segments - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Reportable segment revenue:
Total segment and consolidated revenue	$ 10,638	$ 17,038	$ 1,957
Reportable segment cost of revenue
Total segment and consolidated cost of revenues	9,498	15,774	1,055
Reconciling Items:
Selling, general and administrative expenses	(7,178)	(17,162)	(232)
Research development expenses	(476)	(419)	(348)
Impairment of long-lived assets	(951)	(135)	(40)
Other income/(expense)	(1,380)	(228)	174
Income tax expense		(24)	(53)
Net profit/(loss)	(8,845)	(16,704)	403
Revenue – equipment & hosting [Member]
Reportable segment revenue:
Total segment and consolidated revenue	9,929	9,558	1,957
Revenue – mining pool [Member]
Reportable segment revenue:
Total segment and consolidated revenue	676	7,480
Revenue – mining [Member]
Reportable segment revenue:
Total segment and consolidated revenue	33
Cost of revenues – equipment & hosting [Member]
Reportable segment cost of revenue
Total segment and consolidated cost of revenues	8,802	8,382	1,055
Cost of revenues – mining pool [Member]
Reportable segment cost of revenue
Total segment and consolidated cost of revenues	676	$ 7,392
Cost of revenues – mining [Member]
Reportable segment cost of revenue
Total segment and consolidated cost of revenues	$ 20

Parent Only Information (Detail

Parent Only Information (Details) - Schedule of condensed balance sheets - Previously Reported [Member] - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021
Assets
Cash		$ 9,376	$ 3,311
Amount due from subsidiaries and VIE
Accounts receivable		57	1,174
Other receivables		474
Amounts due from related parties		16,407	7,400
Long-term investment		50	100
Investments in subsidiaries and VIE
Cryptocurrencies		18	4
Operating lease right-of-use assets		27	43
Total Assets		26,409	12,032
Accounts payable		163	1,259
Accrued payroll		60
Operating lease liabilities-current		11	17
Operating lease liabilities-non-current		17	27
Investments in subsidiaries and VIE		5,844
Total Liabilities		6,095	1,303
Mezzanine equities			12,473
Equity:
Subscription receivable			(9)
Additional paid-in capital		46,030	12,928
Statutory reserves
Accumulated deficit		(25,257)	(14,747)
Accumulated other comprehensive income/(loss)		(461)	82
Total equity		20,314	(1,744)
Total Liabilities and Equity		26,409	12,032
Class A Ordinary Shares
Equity:
Ordinary shares value	[1]	1	1
Class B Ordinary Shares
Equity:
Ordinary shares value	[1]	$ 1	$ 1
[1]The shares and per share data are presented on a retroactive basis to reflect the reorganization.

Parent Only Information (Deta_2

Parent Only Information (Details) - Schedule of condensed balance sheets (Parentheticals) - Previously Reported [Member] - $ / shares	Dec. 31, 2022	Dec. 31, 2021
Class A Ordinary Shares
Condensed Balance Sheet Statements, Captions [Line Items]
Ordinary shares, par value (in Dollars per share)	$ 0.0001	$ 0.0001
Ordinary shares, shares authorized	330,369,366	330,369,366
Ordinary shares, shares issued	13,315,903	2,544,148
Ordinary shares, shares outstanding	13,315,903	2,544,148
Class B Ordinary Shares
Condensed Balance Sheet Statements, Captions [Line Items]
Ordinary shares, par value (in Dollars per share)	$ 0.0001	$ 0.0001
Ordinary shares, shares authorized	9,630,634	9,630,634
Ordinary shares, shares outstanding	9,630,634	9,630,634

Parent Only Information (Deta_3

Parent Only Information (Details) - Schedule of condensed statements of operations - Previously Reported [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Condensed Statement of Income Captions [Line Items]
Revenue	$ 2,608	$ 2,527
Cost of revenue	(2,268)	(2,302)
General and administrative expenses	(3,502)	(508)
Sales and marketing expenses	(150)	(14,464)
R&D expenses	(6)
Asset impairment loss	(19)
Other expense, net	(885)
Share of income/(loss) from subsidiaries and VIE	(4,623)	(909)	403
Net income/(loss)	$ (8,845)	$ (15,656)	$ 403

Parent Only Information (Deta_4

Parent Only Information (Details) - Schedule of condensed statements of cash flows - Previously Reported [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Condensed Cash Flow Statements, Captions [Line Items]
Cash flows used in operating activities	$ (4,579)	$ (209)
Investment in subsidiaries and VIE		(7,500)	(2,923)
Collection of due from/(increase in due from) subsidiaries and VIE	(9,007)	2,828
Cash flows used in investing activities	(9,007)	(4,672)	(2,923)
Proceeds from issuance of redeemable preferred shares		8,191	2,923
Reverse Recapitalization	19,652
Cash flows from financing activities	19,652	8,191	2,923
Effect of exchange rate changes
Net change in cash and cash equivalents	6,066	3,310
Cash and cash equivalents at beginning of the period	3,310
Cash and cash equivalents at end of the period	$ 9,376	$ 3,310