The9 Limited Signed an Investment Memorandum to Establish Another Cryptocurrency Mining Joint Venture for Building Another 200MW Capacity in Kazakhstan
The9 Limited - American Depository Shares (NCTY)
US:NASDAQ Investor Relations:
the9.com/en/stockinformation.html
Company Research
Source: PR Newswire
SHANGHAI, Aug. 20, 2021 /PRNewswire/ -- The9 Limited (Nasdaq: NCTY) ("The9"), an established Internet company, today announced that its wholly-owned subsidiary NBTC Limited ("NBTC") and a Kazakhstan company LGHSTR Ltd. ("LGHSTR") have signed a non-binding investment memorandum to establish a joint venture in Kazakhstan. According to the investment memorandum, NBTC and LGHSTR will own 51% and 49% of the joint venture respectively. NBTC will control the board of directors of the joint venture. The joint venture plans to invest and build cryptocurrency mining sites with a total capacity of 200MW within two years. NBTC will have the priority to deploy cryptocurrency mining machines owned by NBTC or its partners. When the 200MW mining sites construction is fully completed, taking S19 Antminers as an example, the sites are expected to be able to deploy more than 50,000 S19 Antminers and accommodate about 5EH/s of hash power. The joint venture will also carry out operation and maintenance of
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NCTY
Sec Filings
- 4/15/24 - Form 20-F
- 3/26/24 - Form 6-K
- 3/5/24 - Form 6-K
- NCTY's page on the SEC website