SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
OF THE SECURITIES EXCHANGE ACT OF 1934
For the month of February 2023
Commission File Number: 001-40368
SAI.TECH Global Corporation
(Exact name of registrant as specified in its charter)
#01-05 Pearl’s Hill Terrace, Singapore, 168976
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101 (b) (1): ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101 (b) (7): ☐
Purchase of Bitcoin Mining Machines
On February 2, 2023, SAI.TECH Global Corporation (the “Company”), through its indirect wholly owned subsidiary, Sustainable Available Innovative Limited, a British Virgin Islands company, entered into a purchase order with Cloud Ridge Technology Limited (the “Purchase Order”) to purchase 420 Whatsminer M30s++ bitcoin mining machines for $633,360, or approximately $14.50 per terahash for self-mining utility. The Company expects to take possession of all mining machines during the first week of February.
The foregoing description of the material terms of the Purchase Order does not purport to be complete and is qualified in its entirety by reference to such Purchase Order, which is filed as an exhibit to this Report on Form 6-K and incorporated herein by reference.
|10.1||Purchase Order with Cloud Ridge Technology Limited|
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereto duly authorized.
|Date: February 7, 2023||SAI.TECH GLOBAL CORPORATION|
|By:||/s/ Risheng Li|
|Title:||Chief Executive Officer|
Cloud Ridge Technology Limited
Account Address : Level 27, Wing On Centre, 111 Connaught Road Central, Sheung Wan, Hong Kong E:salesCRTL@gmail.com
|Purchaser: Sustainable Available Innovative Limited||C/S No: CRTL-CKH-2023-012|
|Address: Sea Meadow House, P.O. Box 116,Road Town, Tortola, British Virgin Islands||Date: 02/02/2023|
Ship to: Client pick up at China warehouse
The undersigned Sellers and Buyers have agreed to enclose the followed transactions according to the term and conditions stipulated below:
|M30s++ 104TH /Server M30s++ 104TH||420 Sets||EXW China
Parameters of the Server: Hash Rate: 104TH ±5%, Power Efficiency 31W/T±5%
Amount: SAY USDT SIX HUNDRED AND THIRTY-THREE THOUSAND, THREE HUNDRED AND SIXTY ONLY
1. Delivery Date：Within 5-7 days once received full amount payment.
|2. Loading Port&Destination:||China/China|
3. Payment Terms：
1). 100% full amount before delivery.
2). Prior to each payment date, the Seller will send a Payment Notice by E-mail or similar ways, and the Buyer shall make payment in accordance with the account information in the Notice. The Payment Notice includes but is not limited to payment date, bank information, account information, currency, etc. If payment is required in a currency other than US dollars, the both parties agree that the anchor exchange rate shall be converted into such currency according to the selling rate of spot exchange at 10:00 Hong Kong time on the day when the payment is made by the buyer.
4. Arbitration：Hong Kong International Arbitration Centre (HKIAC)
5. Warranty Period：1 year from the date of shipment,Original warranty
6. Delivery Terms：EXW
7. The risk of title, loss or damage to the goods shall pass to the Buyer upon delivery from the warehouse. Seller shall not be liable for any loss, damage, penalty or expense after delivery.
|Seller：||/s/ Alan Li||Buyer：||/s/ Arthur Lee|
|Cloud Ridge Technology Limited||Sustainable Available Innovative Limited|