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The9 Limited (Nasdaq: NCTY) is a diversified high-tech Internet company headquartered in Shanghai, listed on Nasdaq since 2004. Initially known for securing the exclusive license to operate and distribute the popular online game World of Warcraft in China, The9 has since expanded its operations into several cutting-edge sectors.
The9 operates a robust cryptocurrency mining business, providing computing power to Bitcoin mining pools in exchange for a fractional share of Bitcoin. This solid revenue stream is complemented by their initiatives in AI and blockchain technology.
One of The9's notable projects is Shenma.io, a digital human SaaS platform driven by AI-generated content (AIGC). With 350,000 registered users and a library of 150,000 short video scripts, Shenma.io allows users to create and monetize digital human clones with proprietary cloning technology, enhancing content management and engagement.
The9's strategic expansion into AI applications is further evidenced by their investment in WM Therapeutic, a company developing AI-driven solutions for brain diseases. The recent acquisition of a 21.7% share in WM Therapeutic brings The9's total stake to 30%, with an option to increase this to 51%. WM Therapeutic uses GenAI and multi-dimensional omics technology for precision diagnostics and treatment of central nervous system disorders.
Another significant venture is The9’s partnership with Kuaijin Shidai, an AI-powered retail platform transforming traditional stores into unmanned retail outlets, significantly reducing operational costs and enhancing profitability. The9 has purchased a 15% stake in Kuaijin, with an option to increase this to 51%.
In the education sector, The9 has acquired a 19% stake in Weixiang, an AI-powered educational technology company. Weixiang leverages AI to enhance online schooling through platforms like TikTok and WeChat, reaching millions of followers and providing innovative educational solutions.
The9 continues to show strong growth and diversification, focusing on blockchain technology, AI applications, and strategic investments in high-potential companies. With a commitment to technological innovation and market expansion, The9 aims to solidify its position as a leader in the global tech industry.
The9 Limited (Nasdaq: NCTY) announced an exclusive license agreement with South Korean football star Son Heung-min for NFT collections via its platform, NFTSTAR. This partnership will allow NFTSTAR to develop and trade authorized digital collectibles featuring Son's career highlights. The platform facilitates NFT transactions using blockchain technology and aims to engage global users by accepting various payment methods, including credit cards. The9 also focuses on expanding its blockchain and cryptocurrency operations, enhancing its position in the NFT market.
The9 Limited (Nasdaq: NCTY) has partnered with soccer legend Luís Figo to launch an exclusive NFT collection through its platform, NFTSTAR. This agreement allows NFTSTAR to develop, sell, and trade Figo-authorized NFTs, celebrating his career and personal milestones. Figo expressed excitement for this venture, aiming to offer fans unique digital collectibles. NFTSTAR will accommodate various payment methods, promoting accessibility for fans globally. The platform's ambition is to create a vibrant metaverse through diverse NFT collections from various superstars.
The9 Limited (Nasdaq: NCTY) has partnered with NFL star Christian McCaffrey through its NFT community platform, NFTSTAR. This exclusive agreement allows NFTSTAR to develop, sell, and trade NFT collections featuring McCaffrey's highlights. McCaffrey, a notable player with the Carolina Panthers, was previously the highest-paid running back in NFL history. NFTSTAR aims to integrate various superstar NFTs across fields, enhancing user experience by allowing general payment methods like credit cards for transactions.
NBTC Limited, a subsidiary of The9 (Nasdaq: NCTY), has partnered with Compute North to deploy over 32MW of capacity for 10,000 Bitmain S19j miners in the U.S., starting Q2 2022. An additional 14,000 miners will be hosted in Canada beginning December 2021. This expansion aims for a hash rate of 2,160PH/S, promoting efficient and eco-friendly mining solutions. Compute North's commitment to sustainability and power efficiency aligns with NBTC's strategic goals, enhancing cryptocurrency mining capabilities while supporting local power markets.
The9 Limited (Nasdaq: NCTY), Polygon, and Protocol Labs are collaborating on The9's NFT platform, NFTSTAR, and GameFi projects. NFTSTAR, expected to launch in Q4 2021, will facilitate NFT trading and interactive experiences featuring licensed IP collections from global stars. Polygon will support the technical operations of both NFTSTAR and GameFi projects, while NFT collectibles will be stored on IPFS and Filecoin networks. The collaboration also aims to establish a GameFi fund for investment in promising projects, inviting other organizations to join this ecosystem.
The9 Limited (NCTY) has entered a non-binding investment memorandum with Kazakhstan's LGHSTR Ltd. to establish a joint venture in Kazakhstan. NBTC, a wholly-owned subsidiary of The9, will hold a 51% stake while LGHSTR will hold 49%. The joint venture aims to develop cryptocurrency mining sites with a capacity of 200MW over the next two years, beginning with a planned completion of 20MW by September 2021. The company expects to restore significant hash power and expand its mining operations globally, leveraging low-cost electricity sources.
The9 Limited (Nasdaq: NCTY) has announced a joint venture with KazDigital Ltd in Kazakhstan to create a cryptocurrency mining site with a capacity of 100MW. The9 will invest cash or mining machines, while KazDigital will contribute construction and infrastructure. The project will be completed in four stages, with the first 25MW finished as of August 1, 2021. The9 plans to send 1,000 mining machines to Kazakhstan for trial operations. Both companies will engage in due diligence within two months of signing the term sheet. This move aims to capitalize on the evolving cryptocurrency mining landscape.
The9 Limited (Nasdaq: NCTY), an established Internet company based in China, has entered into a cryptocurrency mining hosting agreement with BitRiver, a Russian company. This partnership aims to utilize 15MW of electric capacity for The9's Bitcoin mining machines at BitRiver's data center, which has a total power supply capacity of 100MW, capable of hosting over 33,000 mining machines. The initial agreement spans two years, with a potential one-year extension. The9 is committed to seeking low-cost, sustainable energy mining facilities to support its operations and those of its partners.
The9 Limited (Nasdaq: NCTY) announced Coinbase Custody, a subsidiary of Coinbase Global Inc. (Nasdaq: COIN), as the custodian for its digital assets, including Bitcoin. The initial deposit will consist of 200 Bitcoin into a segregated cold storage account, with plans for future deposits as The9 continues to mine cryptocurrencies. Coinbase Custody is recognized for its secure storage solutions and has never lost client funds. The9 will also utilize various cold wallets for additional asset storage.
The9 Limited (Nasdaq: NCTY) announced a definitive agreement to acquire Montcrypto Ltd., a Canadian company, for CAD 7.6 million. The acquisition aims to establish a 20MW carbon-neutral cryptocurrency mining facility in Calgary, which will utilize natural gas for electricity generation. This project is expected to support over 6,000 S19j Antminers while reducing annual greenhouse gas emissions by approximately 128,000 tons. Additionally, The9 is expanding its investment in Skychain Technologies in Manitoba to increase mining capacity from 20MW to 32MW.
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