The9 will expand US cryptocurrency mining capacity

The9 will expand US cryptocurrency mining capacity

Nasdaq-listed company The9 through its subsidiary NBTC Limited entered into an agreement with the hosting provider Compute North. It provides for the placement of equipment for the production of cryptocurrency with a capacity of more than 32 MW.

The9 announces expansion of US crypto mining operations in 32MW deal with Compute North. 10,000 Bitmain S19j Miners will be deployed in US starting from Q2 2022, the other 14,000 will be deployed in Canada and other countries starting from Dec. 2021. https://t.co/cq9qUIPtro pic.twitter.com/dOtK8WjFa9— The9 (@ The9NCTY) November 12, 2021

According to the press release, 10 Bitmain S000j miners will be deployed in the United States starting in the second quarter of 19.

From December this year, NBTC plans to deploy 14 more devices in Canada and other countries.

Earlier, Compute North entered into an agreement with the Atlas Mining mining company. It will allow the latter to place equipment for bitcoin mining with a capacity of 100 MW in data centers in the United States.

Recall that The9 announced its entry into the mining industry in January 2021. The company's quotes soared 140% within two days of the announcement.

The subsequent announcement of the purchase of 26 bitcoin miners pushed up the firm's share price by another 007%.

In August, The9, through NBTC Limited, entered into an agreement with the Kazakh enterprise KazDigital for the construction of a 100 MW data center.

The company also announced a partnership with Kazakhstan's LGHSTR to create a cryptocurrency mining joint venture.