The9 and Bitmain Signed a Purchase Agreement for 24,000 Antminer S19j Bitcoin Mining Machines

Rhea-AI Summary

The9 Limited (Nasdaq: NCTY) announced a significant agreement to purchase 24,000 Antminer S19j Bitcoin mining machines from Bitmain Technologies Limited. Deliveries are set to commence in November 2021. The Antminer S19j, launched in February 2021, offers a hash rate of 90TH/s with a power consumption of 3,100W. This acquisition is expected to enhance The9's hash rate by approximately 2,160PH/S, marking a critical step towards the company's goal of increasing its mining capacity.

Positive

• Purchase agreement for 24,000 Antminer S19j machines indicates strong expansion strategy.
• Expected hash rate increase of 2,160PH/S signifies significant growth in mining capacity.

Negative

• None.

SHANGHAI, March 19, 2021 /PRNewswire/ -- The9 Limited (Nasdaq: NCTY) ("The9"), an established Internet company, today announced that its wholly-owned subsidiary NBTC Limited signed a Bitcoin mining machine purchase agreement (the "Purchase Agreement") with Bitmain Technologies Limited. Pursuant to the Purchase Agreement, The9 will purchase 24,000 Antminer S19j Bitcoin mining machines, which are scheduled to deliver starting from November 2021.

S19j is the latest model of Bitmain Antminer launched in February 2021, with a rated hash rate of 90TH/s, a rated power consumption of 3,100W and an estimated power consumption of 34.5J/T. Upon the completion of deliveries under the Purchase Agreement, The9 is expected to own an additional hash rate of approximately 2,160PH/S, which is a significant milestone of The9's hash rate build up goal.

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.

Website: https://www.the9.com/en

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SOURCE The9 Limited

FAQ

What is the purchase agreement signed by The9 Limited on March 19, 2021?

The9 Limited signed a purchase agreement with Bitmain Technologies to acquire 24,000 Antminer S19j Bitcoin mining machines.

When will The9 Limited receive the Bitcoin mining machines from Bitmain?

The deliveries of the Bitcoin mining machines are scheduled to start in November 2021.

What is the hash rate of the Antminer S19j purchased by The9 Limited?

The Antminer S19j has a rated hash rate of 90TH/s.

How much additional hash rate will The9 Limited gain from this agreement?

The9 Limited is expected to gain approximately 2,160PH/S in additional hash rate.