What is Going on with NCTY?
The9 Limited (NCTY) has announced the signing of a cryptocurrency mining hosting agreement with Bitriver, a Russian company established in 2017 aiming to provide hosting services and turnkey solutions for cryptocurrencymining operations. Bitriver is able to do this through using their surplus hydroelectric power in operating data centers with low cost and sustainable energy. Currently, The9’s mining machines have an initial total power supply capacity of 100MW with the ability to host more than 33,000 mining machines.
What This Means for NCTY?
This is good news for The9 Limited as the company aims to become an diversified high-tech Internet company. Through this agreement, BitRiver will reserve 15MW of electric capacityfor The9’s Bitcoin mining machine deployment. The agreement is set to last for 2 years, with the option for the companies to extend this agreement for one extra year. The9 also hopes to seek other low-cost electricity and sustainable energy mining facilities worldwide.
NCTY has a Short-Term Technical Rank of 24. Find out what this means to you and get the rest of the rankings on NCTY!
The9 Ltd is engaged in developing and operating online games and related services in China. It operates and develops proprietary and licensed online games, proprietary mobile games, including CrossFire New Mobile Game and Audition. It generates online game service revenues primarily through an item-based revenue model, under which players play games for free, but are charged for in-game items, such as performance-enhancing items, clothing, and accessories. Geographically, it has a presence in Greater China (including PRC, Taiwan, Hong Kong and Macau) and other areas.
