After the Divorce, I Found a Thousand Bitcoins - Chapter 71
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This chapter was translated by Lunox Team. To support us and help keep this series going, visit our website: LunoxScans.com
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I Got Divorced and Found a Thousand Bitcoins Episode 071
Lee Tae-sik, who had conducted the meeting with Kang Hyeon, immediately convened an internal meeting.
This meeting included several key executives and practical staff from the data center.
The participants sensed an unusual atmosphere from the fact that it was a meeting with only a small number of people.
Soon Lee Tae-sik entered the meeting room and sat at the head seat.
“Let’s begin the meeting. The materials distributed from now on are top secret and will be destroyed after today’s meeting. Naturally, the moment today’s meeting content leaks outside, everyone here will not be able to avoid responsibility.”
At the strong warning, every single meeting participant swallowed nervously.
What kind of meeting was this that such warnings were being issued?
The participants checked the materials placed in front of them.
And Jeong Sang-hyeon, who participated as data center practical staff after reading the content, shot up from his seat.
“CEO… CEO! Is the content in these materials true?”
“Yes, it’s true. And we’re trying to apply that technology to the data center we’re building in India.”
“To think immersion cooling technology has been completed…”
Jeong Sang-hyeon was the director of SS Battery’s data center technology research institute.
He was essentially the top executive in the data center division.
Naturally, he immediately understood what the materials were talking about.
“Director Jeong, if that technology is applied to data centers, what level of efficiency could it show?”
“If the figures shown here are accurate, we could save 40 to 50 percent of our center’s operating costs.”
It was identical to the figures Choi Kang-hyeon had presented.
No, even better figures came from Director Jeong’s mouth.
“If this is true, it will be a game changer. The maintenance costs that have been acting as an unstable factor in the industry will be greatly reduced.”
“To that extent?”
“Yes. Data centers are essentially a battle of maintenance costs. If maintenance costs are high, no matter how much you operate data centers, profitability drops. That’s why we were working hard to develop immersion cooling technology. But Nereid finally…”
Nereid had been evaluated as closest to immersion cooling in the industry.
But it wasn’t without unstable factors.
“Didn’t Nereid recently have embezzlement issues?”
One executive pointed out that unstable factor precisely.
“I understand the CEO was replaced because of that. I question whether we can trust materials from such a company as they are.”
The executive’s point was accurate.
Embezzlement was something that damaged a company’s credibility.
Since it was committed not by an ordinary employee but by an executive-level CFO, naturally the results produced by that company were also hard to trust.
However, CEO Lee Tae-sik trusted Choi Kang-hyeon, Nereid’s major shareholder.
“You don’t need to worry about that part. What’s important is whether we can introduce Nereid’s technology. Let’s discuss that part.”
Lee Tae-sik clarified the direction of discussion and led the meeting.
* * *
While internal meetings continued at SS Battery.
Kang Hyeon stayed in the United States waiting for Nathan to receive certification for immersion cooling.
At the same time, he began facility expansion to build immersion cooling tanks on the vacant lot next to Nereid.
‘I ended up starting facility expansion faster than I thought.’
He hadn’t expected Nathan’s immersion cooling technology to be completed this quickly.
He thought it would take at least a year, but the technology was completed in just six months.
‘If only proper research funding had been provided, embezzlement wouldn’t have been necessary.’
If proper research funding had been provided to Nathan, he would have completed immersion cooling technology faster than now.
Then Nereid’s stock price would have soared and Tom Heedle and Nathan would have literally been sitting on piles of money.
The embezzlement committed because he couldn’t endure that short time created results that ended his life.
‘Thanks to that, I was able to get my hands on Nereid though.’
It was as if he had gotten his hands on Nereid for just 150 million dollars.
From their perspective, Nereid, which they expected to fail, normalized and even developed new technology.
They sold bonds that could have given them 40 percent stake in such a company at half price, so they must be sick to their stomachs.
‘Well, the news hasn’t spread yet.’
But it would only be a matter of time.
Certification work had already begun and rumors would definitely spread in that process.
Then a message came from Kwangho.
[Kwangho: Nereid stock price rising.]
As expected, the market began moving first.
* * *
Whiterock Credit.
SPV Rosenthal had been enjoying a vacation recently.
Crack!!
“Nice shot.”
“That’s a very good shot.”
He spent a leisurely vacation enjoying golf, his hobby.
The long-awaited rest was enough to thoroughly relax his mood.
“I heard Whiterock’s profits this year are very good.”
“Haha! Isn’t this all thanks to everyone trusting us and entrusting us with their money?”
“It’s thanks to Whiterock’s excellent traders. I heard Rosenthal’s profits this year are also amazing?”
“Well, aren’t I someone who’s stepped back from the front lines? It’s just that what other employees achieved became my gain.”
“Even so, your foresight seems amazing. How you accurately judge which bonds will rise and which will fall to cut losses. It’s truly admirable.”
“That’s exactly technology and information power. If you can’t cut losses properly, losses grow or you end up taking losses you didn’t need to take.”
Rosenthal began delivering a long speech.
No matter how high a person climbs, when they hear voices praising themselves, their shoulders naturally rise without them knowing.
That was exactly how Rosenthal looked now.
Then one man who was enjoying the round with them received a phone call from somewhere and his expression hardened.
Not seeing this, Rosenthal continued his self-praise.
“Recently I also quickly cut losses on bonds from a failing company called Nereid. There was some internal talk, but when there’s someone who wants to buy, you have to sell to get a fair price.”
“That… Rosenthal. About Nereid.”
“Hmm, what’s the matter? Did they finally go bankrupt?”
“It’s not that… They just received certification for immersion cooling.”
“What? What do you mean…!”
“It’s information from UL. They just issued certification for 2417, 2416…”
UL was the most credible safety certification agency in the United States.
Receiving safety certification from here meant there were no problems with their technology.
“That’s impossible…!”
“It’s true. Nereid’s stock price is starting to rise now.”
“This… I forgot I had an urgent appointment.”
“I also have an appointment, so I’ll be going…”
Suddenly people began leaving like the tide going out.
Left alone with just his secretary, Rosenthal looked down at his smartphone with a bewildered expression.
There was a breaking news article about Nereid’s immersion cooling technology.
[(Breaking) Nereid receives safety certification for new immersion cooling technology.]
It was just one line, but what it meant was one thing.
A game changer that could change the market landscape had appeared.
As if proving this, Rosenthal’s phone rang.
His face contorted as he checked the number.
“Yes… I answered the phone.”
His voice became as small as an ant crawling.
* * *
Kang Hyeon received a report through Ha-ryul that safety certification had been issued.
“With UL’s certification, the stock price rose 12 percent. It hasn’t found its original price yet, but when official reports go out, the stock price should quickly find its original price.”
Nereid’s stock price had fallen 70 percent from its peak.
They had been unable to disclose their technology for a long time, and the CFO’s embezzlement incident had compounded the situation, acting as a declining factor.
However, the CFO’s dismissal and the appointment of a new CEO helped stabilize shareholders.
Thanks to this, the declining stock price found stability, and with rumors spreading about this safety certification, the price turned upward.
“Related news is currently being transmitted through Bloomberg Terminal. If this news is confirmed, the price could look at more than double the current value.”
Kim Ha-ryul’s analysis was accurate.
Even in distant United States without proper equipment, she had quickly gathered and brought information.
Kang Hyeon thought it was indeed good that he had brought Kim Ha-ryul along.
“If that’s the market sentiment, we should meet their expectations. I’ll contact JP Morgan myself to have them issue a report. Ha-ryul, please prepare the press release.”
“Yes, understood.”
It was time to begin full-scale promotion.
Ah, but before that.
“I should contact this gentleman too.”
Kang Hyeon pressed Lee Tae-sik’s number from SS Battery.
* * *
“Understood, I’ll prepare it right away.”
SS Battery CEO Lee Tae-sik received Kang Hyeon’s call and immediately contacted his older brother.
“Hey, it’s me. The cooling system for the India Data Center we talked about last time – we’re going to adopt Nereid’s immersion cooling.”
-What? We decided to hold off on that until the safety certification came out.
“That safety certification came out yesterday. And it’s certified by UL in the United States.”
-By UL?
“Yes. I’m supposed to receive the related documents today, so I’ll send them to you as soon as they arrive.”
After a moment of silence, SS Group Chairman Lee Tae-jin’s response came through.
-Tae-sik, you know this too. Early-stage technology always has risks. For large corporations like us, it’s okay to enter as a latecomer rather than getting involved in the early stages of such technology.
It was a valid point.
The reason large corporations didn’t obsess over new technologies developed by venture companies was due to safety concerns.
No matter how much UL had certified it, that was certification at the testing stage.
For large corporations that needed to establish large-scale facilities, safety issues that hadn’t been considered could arise.
If such problems occurred, Lee Tae-sik, who had advocated for the adoption, could face trouble.
Chairman Lee Tae-jin was worried about that aspect.
However, Lee Tae-sik’s thinking was different.
“Chairman, we now have a chance to catch up with LC. With the Nickel Mine, we’ve barely reached the starting line.”
-I know that. So, if we slowly follow along…
“No. The opponent is already running far ahead. To catch up with them, we can’t do things the conventional way.”
If they chose safety, they couldn’t catch up with LC and reach first place.
Knowing this, Lee Tae-sik was trying to aggressively adopt this new technology.
-Sigh… Alright. I’ll give you my full support on this matter.
“Thank you!”
-And hey, come home once in a while. Mother misses you.
At his brother’s warm words, Lee Tae-sik smiled for the first time in a long while.
“Alright, hyung.”
-Good. Let’s talk again.
After ending the call, Lee Tae-sik immediately connected to the internal line.
“Please prepare for a meeting. Make sure all executive-level staff attend.”
-Understood, CEO.
It was time for SS Battery, which had been pushed back by LC to remain in second place, to gain the momentum to become number one.
“Let’s do this.”
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This chapter was translated by Lunox Team. To support us and help keep this series going, visit our website: LunoxScans.com
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