The9 Limited and KazDigital, a Kazakhstan cryptomining company, signed Term Sheet on establishment of joint venture
The9 Limited - American Depository Shares (NCTY)
US:NASDAQ Investor Relations:
the9.com/en/stockinformation.html
Company Research
Source: PR Newswire
SHANGHAI, Aug. 4, 2021 /PRNewswire/ -- The9 Limited (Nasdaq: NCTY) ("The9"), an established Internet company, today announced that its wholly-owned subsidiary NBTC Limited and Kazakhstan enterprise KazDigital Ltd (hereinafter referred to as "KazDigital") have signed a non-binding term sheet (the "Term Sheet") regarding the establishment of a joint venture company in Kazakhstan to build a cryptocurrency mining site with a capacity of 100MW. It will be used to deploy The9's mining machines and potentially other third-parties' mining machines.According to the Term Sheet, both parties will invest their own assets to establish the joint venture. KazDigital will invest assets related to construction and infrastructure of the mining site into the joint venture, and The9 will invest cash or mining machines in the joint venture. The assets invested by both parties will be evaluated by a third-party impartial institution in order to confirm their fair value and ensure that both parties inves
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NCTY
Sec Filings
- 4/23/24 - Form 6-K
- 4/15/24 - Form 20-F
- 3/26/24 - Form 6-K
- NCTY's page on the SEC website