0001213900-23-031047 | 20-F | XBRL Viewer

^[1]

Class B Ordinary Shares

Shareholders’ equity:

Sales and marketing expenses

^[1]

$ 1

[1]	The shares and per share data are presented on a retroactive basis to reflect the reorganization.

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 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

1,098

14,779

General and administrative expenses

6,080

2,383

231

Research and development expenses

476

419

348

Impairment of long-lived assets

951

135

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)

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

[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 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

[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

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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Summary of Significant Accounting Policies

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 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

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 shares, received 3,492,031 Class A Ordinary Shares, holders of 272,247 TradeUP Class B Ordinary Shares received 272,247 Class A Ordinary Shares, and holders of 2,244,493 TradeUP Warrants received Warrants to purchase 2,244,493 Class A Ordinary Shares, to reflect the equity structure of the Company.

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 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.

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 number of ordinary shares outstanding multiplied by the exchange ratio. The par value of ordinary shares remained $0.0001, the subscription receivable was adjusted retrospectively from negative $9 to $nil, and the difference was adjusted retrospectively as in addition paid-in capital as of December 31, 2022 and then after. The preferred shares which were presented in mezzanine equities and Series Seed Preferred Shares were adjusted retrospectively into Class A ordinary shares and additional paid-in capital as of December 31, 2022 and then after.

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, the Reorganization was accounted for as a recapitalization. As a result, the consolidation of the Company, its subsidiaries and the VIE has been accounted for at historical cost, as a transaction between entities under common control in a manner similar to polling of interest for the year 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 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 activities
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) 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.

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 December 31,
	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 Accounting Policies

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

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 transactions and balances have been eliminated upon consolidation.

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 assets including intangible assets, impairment loss for cryptocurrencies, valuation allowance for deferred tax assets, provision for inventory, estimated forfeiture rate in calculation of share-based payment, the incremental borrowing rate used to calculate right of use assets and lease liabilities, useful lives of intangible assets and property, plant and equipment and revenue recognition. Since the use of estimates is an integral component of the financial reporting process, actual results could differ from those estimates.

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 December 31,
	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 digital asset mining machines, which is dependent upon factors such as historical and forecasted consumer demand and expected selling price. Write downs are recorded in cost of revenues in the consolidated statements of operations and comprehensive (loss)/income. For the year ended December 31, 2022 and 2021, the Company did not recognize any write down on inventories.

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 asset is impaired. Impairment exists when the carrying amount exceeds its fair value, which is measured using the quoted price of the cryptocurrency at the time its fair value is being measured. In testing for impairment, the Company has the option to first perform a qualitative assessment to determine whether it is more likely than not that an impairment exists. If it is determined that it is not more likely than not that an impairment exists, a quantitative impairment test is not necessary. If the Company concludes otherwise, it is required to perform a quantitative impairment test. To the extent an impairment loss is recognized, the loss establishes the new cost basis of the asset. Subsequent reversal of impairment losses is not permitted. For the year ended December 31, 2022, 2021 and 2020, the Company recorded $64, nil and nil in cryptocurrency impairment loss.

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 (FIFO) method of accounting.

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 method after taking into account their respective estimated residual values over the following estimated useful lives:

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 on loss from disposal of property and equipment, 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 basis over the estimated useful lives of 3 years.

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 assets, which include tangible long-lived assets and intangible long-lived assets, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of long-lived assets to be held and used is measured by a comparison of the carrying amount of the asset to the estimated undiscounted future cash flows expected to be generated by the assets. If the carrying amount of an asset exceeds its estimated future undiscounted cash flows, an impairment loss is recognized for the difference between the carrying amount of the asset and its fair value. For the year ended December 31, 2022, 2021 and 2020, the Company recognized $912, nil and $40 on impairment loss on long-lived assets.

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 analysis: (1) identify the contract(s) with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; (5) recognize revenue when (or as) the entity satisfies a performance obligation. The Company assesses its revenue arrangements against specific criteria in order to determine if it is acting as principal or agent.

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 tax, and there is generally no other performance obligation other than the delivery of products. Proceeds from product sales are recognized as revenue at the point in time when the receipt of product is confirmed by the customer.

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 activities in an efficient manner in the blockchain network, in exchange for a fee (“pool operator fee”) for its coordination efforts as the pool operator. The Company receives all the mining rewards in its own name, and then allocates mining rewards to each pool participant net of the pool operator fees based on the sharing mechanism predetermined. The mining rewards include the block rewards and the transaction verification fees related to the transactions included in the block.

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 that the deferred tax assets will not be realized. The effect on deferred taxes of a change in tax rates is recognized in statement of operations and comprehensive (loss)/income in the period that includes the enactment date.

r) Uncertain tax positions

The Company uses a more-likely-than-not threshold for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. As a result, the impact of an uncertain income tax position is recognized at the largest amount that is more-likely-than-not to be sustained upon audit by the relevant tax authority. An uncertain income tax position will not be recognized if it has less than a 50% likelihood of being sustained.

Interest on non-payment of income taxes under requirement by tax law and penalties associated with tax positions when a tax position does not meet the minimum statutory threshold to avoid payment of penalties recognized, if any, will be classified as a component of the provisions for income taxes. The tax returns of the Company’s Hong Kong and PRC subsidiaries and VIE are subject to examination by the relevant local tax authorities.

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 method is used for computing earnings per share in the event the Company has net income available for distribution. Under the two-class method, net income is allocated between ordinary shares and participating securities based on dividends declared and participating rights in undistributed earnings as if all the earnings for the reporting period had been distributed. Series Angel and Series Pre-A Preferred Shares issued by the Company qualified as participating securities because they have the same participating rights on the earnings of the Company as ordinary shares on an as-converted basis after the preferred shareholders receive non-cumulative annual dividends up to 100% of the original issue price for each of the preferred shares.

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 method. Potential ordinary shares are not included in the denominator of the diluted earnings per share calculation when inclusion of such shares would be anti-dilutive or in the case of contingently issuable shares that all necessary conditions for issuance have not been satisfied. For the year ended December 31 2022, 2021 and 2020, there were no dilutive shares.

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 fair value of the award and recognizes the cost over the period the employee is required to provide service in exchange for the award, which generally is the vesting period. The Company recognizes compensation cost for an award with only service conditions that has a graded vesting schedule on a straight-line basis over the requisite service period for the entire award, net of estimated forfeitures, provided that the cumulative amount of compensation cost recognized at any date at least equals the portion of the grant-date value of such award that is vested at that date. Forfeiture rates are estimated based on historical and future expectations of employee turnover rates.

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, “Leases (Topic 842)”. The amendments in this ASU requires that a lessee recognize the assets and liabilities that arise from operating leases. A lessee should recognize in the statement of financial position a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term. For leases with a term of 12 months or less, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and lease liabilities.

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 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) Prepaid purchase of inventory mainly consists of the advance deposit to suppliers of mining equipment.

(ii) 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

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

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 December, 2021		As of December, 2022
	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

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 lease costs of $139, $8 and nil respectively. Cash paid for amounts included in the measurement of operating lease liabilities were $139, nil and nil for the year ended December 31, 2022, 2021 and 2020, respectively. As of December 31, 2022, the weighted average remaining lease term was 2.1 years and the weighted average discount rate was 4.6%.

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

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 corporate income tax system was implemented in Hong Kong, which is 8.25% for the first HK$2.0 million profits, and 16.5% for the subsequent profits. Under the HK tax laws, it is exempted from the Hong Kong income tax on its foreign-derived income. In addition, payments of dividends from Hong Kong subsidiaries to the Company are not subject to any Hong Kong withholding tax.

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 December 31,
	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 December 31,
	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 of the valuation allowance:

	For the years ended December 31,
	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	—		—

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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Redeemable Preferred Shares [Abstract]

Redeemable Preferred Shares

12 Months Ended

Dec. 31, 2022

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 Preferred Shares to three shareholders holding a total 7.99% equity interest of Beijing SAI, who are currently in the progress of changing from a shareholder of Beijing SAI to a direct investor of the Company (Note 1). The 9,864,312 Series Pre-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 and Series A preferred shares along with the issuance of Series A Preferred Shares on April 22, 2021, which is each series of Preferred Shares shall automatically be converted into Class A Ordinary Shares, at the then applicable conversion price upon (i) closing of a Qualified Initial Public Offering (“Qualified IPO”) or (ii) the written approval of the holders of a majority of each respective series of preferred shares.

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 valuation firm.

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 and Series A Preferred Shares are redeemable after the sixth anniversary of the issuance of Series A Preferred Shares (April 22, 2021) if a Qualified IPO or trade sale (the sales, through one or a series of transactions, of all or substantially all of the equity securities or assets or undertaking of the Company) does not occur.

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 capital. Once additional paid-in capital has been exhausted, additional charges should be recorded by increasing the accumulated deficit.

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, respectively.

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) 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.

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 shares and per share data are presented on a retroactive basis to reflect the reorganization, see Note 1a for more information.

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 December 31,
	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) 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).

(2) 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.

(3) Accretion provided for the redemption rights for Series Angel, Series Pre-A and Series A Preferred Shares to the redemption value.

(4) 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

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 capital of the PRC subsidiary and VIE, including the mezzanine equity which are part of the paid in capital and additional paid-in capital of the VIE, included in the Company’s consolidated net assets are also non-distributable for dividend purposes.

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 profit to the general reserve until such reserve has reached 50% of its registered capital based on the enterprise’s PRC statutory accounts. Appropriations to the enterprise expansion fund and staff welfare and bonus fund are at the discretion of the board of directors. The aforementioned reserves can only be used for specific purposes and are not distributable as cash dividends. The Company’s WOFE is subject to the above mandated restrictions on distributable profits.

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 profit until such reserve has reached 50% of its registered capital based on the enterprise’s PRC statutory accounts. A domestic enterprise is also required to provide for a discretionary surplus reserve, at the discretion of the board of directors. The aforementioned reserves can only be used for specific purposes and are not distributable as cash dividends. The Company’s PRC consolidated entities are subject to the above mandated restrictions on distributable profits.

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 capital, additional paid-in capital and statutory reserve funds of the Company’s PRC subsidiaries that are included in the Company’s consolidated net assets were approximately $10,358 and $7,510, respectively.

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.

The entire disclosure for retirement benefits.

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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Commitments and Contingencies Disclosure [Abstract]

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 payment, which was $14,457, was accounted for as sales and marketing expenses based on the Group’s fair value at the grant date in the statement of operations for the year ended December 31, 2021.

Share Incentive Plans

The company have incentive plan for the granting of share-based awards, including restricted share units, to management and employees.

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 Share Reserve number will automatically increase (but not decrease) on January 1st of each year commencing on January 1, 2022 and ending on (and including) January 1, 2031, in an amount equal to the lesser of (i) three percent (3%) of the total number of ordinary shares of New SAI outstanding on December 31st of the preceding year and (ii) such fewer number of Class A ordinary shares that the Board or any Committee may determine prior to January 1st of a given year; provided, if the effective date of the New SAI Incentive Plan is after January 1, 2022, then the initial automatic increase shall occur on January 1, 2023 and the increases shall end on (and including) January 1, 2032.

As of December 31, 2022, 410,663 shares were available for grant under the 2021 Share Incentive Plan.

A summary of the Company’s unvested time-based restricted common stock activity in the year ended December 31, 2022 is as follows:

		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

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	%

____________

* Less than 10%.

— No transaction incurred during the year/no balance existed as of the balance sheet date.

Commitments and Contingencies

12 Months Ended

Dec. 31, 2022

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

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	)

____________

* The ordinary shares are presented on a retroactive basis to reflect the Company’s share consolidation on April 29, 2022

Potential ordinary shares that have an anti-dilutive effect (i.e., those that increase earnings per share or decrease loss per share) are excluded from the calculation of diluted loss per share. For the year ended December 31, 2022, 2021 and 2020, the Company had no dilutive shares.

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

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Segment Information

17. Segment Information

The Company applies ASC 280, Segment Reporting, in determining its reportable segments. The Company has two reportable segments: equipment sales & hosting and mining pool business. The guidance requires that segment disclosures present the measure(s) used by the Chief Operating Decision Maker (“CODM”) to decide how to allocate resources and for purposes of assessing such segments’ performance. The Company’s CODM is comprised of several members of its executive management team who use revenue and cost of revenues of our three reporting segments to assess the performance of the business of our reportable operating segments. As a result, the Company has two reportable segments, including equipment sales & hosting and mining pool business.

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	)

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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Principles of consolidation

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

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
(In thousands, except for share and per share data, or otherwise stated)

	As of December 31, 2021		As of December 31, 2022
	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

____________

* The shares and per share data are presented on a retroactive basis to reflect the reorganization.

Condensed Statements of Operations
(In thousands, except otherwise stated)

	For the year ended December 31,
	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
(In thousands, except otherwise stated)

	For the year ended December 31,
	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 (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”).

b) Principles of consolidation

Liquidity

c) Liquidity

Use of estimates

d) Use of estimates

Foreign currency translation and transactions

e) Foreign currency translation and transactions

		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 December 31,
	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

Accounts receivable

g) Accounts receivable

Inventories

h) Inventories

Cryptocurrency assets

i) Cryptocurrency assets

Stablecoin assets

j) Stablecoin assets

Property and equipment, net

k) Property and equipment, net

Furniture, fixture and other equipment		3 years
Electronic equipment		3 – 5 years
Plant		Shorter of useful life or lease term

Intangible assets, net

l) Intangible assets, net

Construction in process

m) Construction in process

Impairment of long-lived assets

n) Impairment of long-lived assets

Fair value of financial instruments

o) Fair value of financial instruments

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

Sales of products

Hosting service

Mining pool services

Mining Revenue.

Income taxes

q) Income taxes

Uncertain tax positions

r) Uncertain tax positions

Segment reporting

s) Segment reporting

Earnings per share

t) Earnings per share

Share based compensation

u) Share based compensation

Commitments and contingencies

v) Commitments and contingencies

Leases

w) Leases

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 activities
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

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 December 31,
	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 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 December 31,
	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)

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 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) Prepaid purchase of inventory mainly consists of the advance deposit to suppliers of mining equipment.

(ii) 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 (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)

12 Months Ended

Dec. 31, 2022

Intangible Assets, Net [Abstract]

Schedule of Finite-Lived Intangible Assets [Table Text Block]

	As of December, 2021		As of December, 2022
	US$		US$
Purchased software	344		311
Less: accumulated amortization	(79	)	(217	)
	265		94

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)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of income tax expense

	For Year Ended December 31,
	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 December 31,
	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 December 31,
	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 (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 December 31,
	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)

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)

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 (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	)

* The ordinary shares are presented on a retroactive basis to reflect the Company’s share consolidation on April 29, 2022

Amount Due from/(to) Related Parties (Tables)

12 Months Ended

Dec. 31, 2022

Amount Due from/(to) Related Parties [Abstract]

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	—

	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)

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)

12 Months Ended

Dec. 31, 2022

Parent Only Information [Abstract]

Schedule of condensed balance sheets

	As of December 31, 2021		As of December 31, 2022
	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

* The shares and per share data are presented on a retroactive basis to reflect the reorganization.

Schedule of condensed statements of operations

	For the year ended December 31,
	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 December 31,
	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) - 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) - 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

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL123482106-238011

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22583-107794

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 10
-URI https://asc.fasb.org/extlink&oid=126958026&loc=d3e1448-109256

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22595-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

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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

Superlative Accelerating Infinite Limited [Member]

Organization (Details) - Schedule of major subsidiaries

12 Months Ended

Dec. 31, 2022

Feb. 05, 2021

100.00%

BVI

Sustainable Available Innovative Limited [Member]

Investment holding

Jul. 14, 2021

100.00%

BVI

Silicon Asset Investment Limited [Member]

Investment holding

Mar. 03, 2021

100.00%

Hong Kong

Sustainable Available Innovative Pte. Ltd. [Member]

Investment holding

Aug. 18, 2021

100.00%

Singapore

Sustainable Available Innovative Asia Ltd [Member]

Investment holding

Aug. 26, 2021

100.00%

Republic of Kazakhstan

Hangzhou Dareruohan Technology Co., Ltd. [Member]

Investment holding

Apr. 02, 2021

100.00%

PRC

Nanjing SuannengWuxian Techology Co. Ltd. [Member]

Research and Development

Jun. 04, 2020

^[1]

100.00%

^[1]

PRC

^[1]

Research and Development

^[1]

SAI US INC. [Member]

Feb. 24, 2022

100.00%

U.S.

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) - 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

Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

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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

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

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Schedule Of Prepaid Expenses And Other Current Assets Abstract

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 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 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) - 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 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

Deposits for office spaces leases

$ 78

$ 133

Prepaid purchase of inventory

^[1]

147

Staff advances

Deductible VAT tax

562

617

Other current assets

^[2]

481

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 (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 (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) - 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 (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) - USD ($) $ in Thousands	12 Months Ended
Operating Leases (Details) - USD ($) $ in Thousands	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) - 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) - 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) - HKD ($) $ in Millions	9 Months Ended	12 Months Ended
Income Taxes (Details) - HKD ($) $ in Millions	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)		$ 2.0
Subsequent Profits		16.50%
Domestic and foreign income tax rate		25.00%
Income tax rate VIE and VIE subsidiary	25.00%
Percentage of tax rate		25.00%	25.00%	25.00%
Income tax rate					21.00%
Singapore [Member]
Income Taxes (Details) [Line Items]
Percentage of tax rate		17.00%	17.00%	17.00%
Mainland, PRC [Member]
Income Taxes (Details) [Line Items]
Domestic and foreign income tax rate		25.00%

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

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

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	25.00%	25.00%	25.00%
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

Number of redeemable preferred shares

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

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) - Schedule of roll-forward of the valuation allowance - USD ($) $ in Thousands	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 (Details)				12 Months Ended
Redeemable Preferred Shares (Details)	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				10.00%	10.00%
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 (Details) - Schedule of redeemable preferred shares - shares

12 Months Ended

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

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

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

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) - USD ($) $ in Thousands	12 Months Ended
Restricted Net Assets (Details) - USD ($) $ in Thousands	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	10.00%
Registered capital	50.00%
Geographic Distribution, Domestic [Member]
Restricted Net Assets (Details) [Line Items]
Annual after tax profit, percentage	10.00%
Registered capital	50.00%

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) - 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		3.00%
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) - 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)	12 Months Ended
Concentration of Risk (Details)	Dec. 31, 2022
Customer Concentration Risk [Member]
Concentration of Risk (Details) [Line Items]
Concentration of customers percentage	10.00%

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

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.

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders.

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Schedule Of Basic And Diluted Loss Per Ordinary Share Abstract

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

Weighted average number of ordinary shares outstanding diluted

^[1],[2]

19,224,614

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 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 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

For an unclassified balance sheet, amounts due from related parties including affiliates, employees, joint ventures, officers and stockholders, immediate families thereof, and pension funds.

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Carrying amount as of the balance sheet date of obligations due all related parties.

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Amount due from subsidiaries and VIE

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)	12 Months Ended
Segment Information (Details)	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) - 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 (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

Accounts receivable

1,174

Other receivables

474

Amounts due from related parties

16,407

7,400

Long-term investment

100

Investments in subsidiaries and VIE

Cryptocurrencies

Operating lease right-of-use assets

Total Assets

26,409

12,032

Accounts payable

163

1,259

Accrued payroll

Operating lease liabilities-current

Operating lease liabilities-non-current

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)

Total equity

20,314

(1,744)

Total Liabilities and Equity

26,409

12,032

Class A Ordinary Shares

Equity:

^[1]

Class B Ordinary Shares

Equity: