The9 Limited and SolarCoin, a Kyrgyzstan Cryptomining Company, Signed Contract on Purchase of Computing Center

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May 11, 2022, 05:30 ET

SHANGHAI, May 11, 2022 /PRNewswire/ -- The9 Limited (Nasdaq: NCTY) ("The9"), an established Internet company, today announced that its wholly-owned subsidiary NBTC Limited and Kyrgyzstan enterprise SolarCoin LLC (hereinafter referred to as "SolarCoin") have signed a Purchase Agreement (the "Agreement") regarding a block chain computing center in Kyrgyzstan, pursuant to which The9 will obtain 31.5MW electricity capacity for the deployment of its 7,500 Antminer S19J Bitcoin mining machines contributing approximately 675PH/s hash power. The parties are looking forward to complete the construction work and have the computing center powered on around the end of July 2022. The expected electricity cost of the computing center is US$0.05/kWh.

According to the Agreement, The9 will acquire the ownership of transformers with a capacity of 31.5 MW along with the supporting low voltage equipment, plant and its internal supporting facilities (high voltage excluded), network equipment as well as the right to use the high voltage equipment and land in perpetuity.

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, and is engaged in blockchain business including the operation of cryptocurrency mining and Metaverse celebrity social platform NFTSTAR.

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SOURCE The9 Limited