In the first week of April, the listed games and internet company The9 Limited announced its intention to purchase 2,000 Avalonminers from the manufacturer Canaan. On Monday, The9 announced that it has signed a hosting agreement with Russian company Bitriver, as the company will use 15 megawatts (MW) of Bitriver’s capacity for two years.
The9 teams up with the Bitcoin mining operation Bitriver
The9 Limited (Nasdaq: NCTY) has outlined its plans to partner with Moscow-based bitcoin mining company Bitriver. As part of the agreement, both parties can extend the two-year contract by 15 MW for each additional year thereafter. “Currently the envisaged data center for the mining machines of The9 has an initial total power capacity of 300 MW, which could be increased to 500 MW,” says the announcement.
The9’s deal with Bitriver follows the company’s acquisition of 2,000 bitcoin mining rigs from Canaan, giving the company 0.1 exahash per second (EH / s) hash power. The legally binding letter of intent (MOU) stated that the machines were trading for Class A common shares. Over a month later, The9 signed a definitive agreement to acquire a Canadian company called Montcrypto.
The plan with Montcrypto is to build a 20 MW bitcoin mining facility in Calgary, Canada. “The climate-neutral infrastructure of Montcryptoo [is] a greener, greener power supply for The9’s cryptocurrency mining business, ”the company stated on June 4th. Russian company Bitriver has also taken various steps in the Bitcoin mining industry.
In mid-April, Bitriver announced that it had started selling tokens with 100 megawatts (MW) of mining power in Siberia. Bitriver’s tokens, known as Bitriver Tokens (BTR), represent a single watt-hour (Wh) of electricity from the Bratsk mining company. As for the recent deal with Bitriver, The9’s announcement further explains that the company will continue to look for energy solutions to expand.
“The9 will continue to actively search for low-cost electricity and sustainable energy generation systems in various regions of the world,” says the company’s announcement. “To accelerate the use of large-scale cryptocurrency mining machines for The9 and other partners, both by building their own mining systems and through hosting cooperation with mining system companies.”
What do you think of The9’s partnership with Russian bitcoin mining company Bitriver? Let us know what you think on this matter in the comments below.
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