SHANGHAI, Nov. 12, 2021 /PRNewswire/ -- NBTC Limited
("NBTC"), a wholly-owned subsidiary of The9 Limited (Nasdaq: NCTY),
an established Internet company, and Compute North, an industry
leader in economical, large-scale computing and cryptocurrency
mining infrastructure, today announced an agreement for Compute
North to provide more than 32MW of capacity for 10,000 Bitmain S19j
miners that NBTC will deploy in the
United States, beginning in the second quarter of 2022.
NBTC has an additional 14,000 Bitmain S19j miners that are
expected to be deployed with hosting partners in other
countries such as Canada, starting
from December this year.
"We are pleased to be moving forward with Compute North as
our preferred, long-term hosting provider in the United States. Upon the completion of the
deployment of these 24,000 Bitmain S19j miners, we expect to
be producing an additional hash rate of 2,160PH/S," said
Zhifang Cai, CEO at NBTC. "This agreement helps further
our goals of sourcing hosting solutions that offer efficient and
environmentally friendly power resources in facilities around the
world for NBTC to deploy our cryptocurrency mining machines."
Compute North's robust site development pipeline and proven
expertise in cryptocurrency hosting solutions enables NBTC to meet
its objectives to expand operations in the United States. Further, the companies are
aligned in their commitment to sustainability and operating as a
strategic asset to the grid. With a consistent yet interruptible
load profile, Compute North works collaboratively with power
providers in support of developing an intelligent grid that
relieves congestion and strengthens the stability of local power
markets. NBTC will continue to seek for efficient and
environmentally friendly power resources and mining facilities
around the world to deploy its cryptocurrency mining machines.
Cryptocurrency mining, which may be curtailed or taken offline
in periods of low supply or peak demand, presents an ideal
counterpart for renewables. To activate this potential, Compute
North has entered into demand response programs with select energy
partners, which enables the ability to be rapidly curtailed and
dispatch power to mission-critical customers, such as
hospitals.
"We're proud that Compute North's focus on sustainable mining
solutions factored into NBTC's decision to partner with us for its
upcoming U.S. deployment," said Dave
Perrill, CEO at Compute North. "Because of the unique and
important relationship between our data centers and power
providers, the process of mining has demonstrated the ability to
provide added benefit to the energy ecosystem across the U.S., in
addition to supporting the ongoing health of a truly transformative
technology and digital asset class."
About Compute North
Compute North is the North
American leader in TIER 0™ computing. The company provides
efficient, low-cost, and highly scalable infrastructure for clients
in the blockchain, cryptocurrency mining and the distributed
computing space. With operations in Texas, South
Dakota, and Nebraska,
Compute North brings a unique combination of data center, energy,
and computing expertise to deliver the lowest cost computing in the
world. For additional information, please visit
www.computenorth.com.
For further information, please contact: pr@computenorth.com
About The9 Limited
The9 Limited (The9) is an Internet company listed on Nasdaq in
2004. The9 aims to become a global diversified high-tech Internet
company, and is engaged in blockchain business including the
operation of cryptocurrency mining and a Non-Fungible Token
platform NFTSTAR.
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