SHANGHAI, July 12, 2021 /PRNewswire/ -- The9 Limited
(Nasdaq: NCTY) ("The9"), an established Internet company, today
announced that it has signed a cryptocurrency mining hosting
agreement with Russian company BitRiver ("BitRiver") through its
wholly-owned subsidiary NBTC Limited.
BitRiver, headquartered in Moscow, was established in 2017 to provide
global hosting services and a one-stop, turnkey solutions for
large-scale cryptocurrency mining operations. BitRiver currently
utilizes surplus hydroelectric power to operate data centers
through low cost and sustainable energy that offers hosting
services for cryptocurrency mining in Russia and the other
regions. At present, the targeted data-center for The9's
mining machines has an initial total power supply capacity of 100MW
which could host more than 33,000 mining machines.
According to the agreement between the two parties, BitRiver
will reserve 15MW of electric capacity for The9's Bitcoin mining
machine deployment. The initial term of the agreement is 2 years.
After the expiration, both parties have the right to automatically
extend their cooperation for an additional one year, unless either
party decides not to do so.
The9 will continue to actively seek for low-cost electricity and
sustainable energy mining facilities in different regions of the
world to accelerate the deployment of large-scale cryptocurrency
mining machines for The9 and other partners by both
self-construction of mining facilities and hosting cooperation with
mining facilities companies.
About The9 Limited
The9 Limited (The9) is an Internet company based in China listed on Nasdaq in 2004. The9 aims to
become a diversified high-tech Internet company.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the
United States Private Securities Litigation Reform Act of 1995.
These forward-looking statements can be identified by terminology
such as "will," "expects," "anticipates," "future," "intends,"
"plans," "believes," "estimates" and similar statements. Such
statements are based upon management's current expectations and
current market and operating conditions and relate to events that
involve known or unknown risks, uncertainties and other factors,
all of which are difficult to predict and many of which are beyond
The9's control. The9 may also make written or oral forward-looking
statements in its periodic reports to the SEC, in its annual report
to shareholders, in press releases and other written materials and
in oral statements made by its officers, directors or employees to
third parties. Statements that are not historical facts, including
statements about The9's beliefs and expectations, are
forward-looking statements. Forward-looking statements involve
inherent risks and uncertainties. A number of factors could cause
actual results to differ materially from those contained in any
forward-looking statement, including but not limited to the
following: The9's goal and strategies; The9's expansion plans;
The9's future business development, financial condition and results
of operations; The9's expectations regarding demand for, and market
acceptance of, its products and services; The9's expectations
regarding keeping and strengthening its relationships with business
partners it collaborates with; general economic and business
conditions; and assumptions underlying or related to any of the
foregoing. Further information regarding these and other risks is
included in The9's filings with the SEC. All information provided
in this press release and in the attachments is as of the date of
this press release, and The9 does not undertake any obligation to
update any forward-looking statement, except as required under
applicable law.
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SOURCE The9 Limited