The9 Appointed Cai ZhiFang as the CEO of NBTC Limited to Lead the Development of Blockchain and Cryptocurrency Business
The9 Limited (Nasdaq: NCTY) has appointed Cai Zhifang as CEO of its subsidiary, NBTC Limited, to spearhead blockchain and cryptocurrency initiatives. Mr. Cai, a pioneer in the blockchain sector, co-founded YiBit Digital Technology in 2013 and managed significant Bitcoin mining operations, accounting for nearly 5% of the global hash rate at its peak. His leadership aims to leverage NBTC's partnerships to enhance The9's position in the cryptocurrency market. Notably, The9 established NBTC earlier this year and has begun acquiring mining equipment.
- Appointment of a seasoned blockchain expert, Cai Zhifang, as CEO of NBTC to enhance leadership in cryptocurrency.
- Established subsidiary NBTC engaged in cryptocurrency mining, signaling strategic growth in a booming market.
- None.
SHANGHAI, Feb. 26, 2021 /PRNewswire/ -- The9 Limited (Nasdaq: NCTY) ("The9"), an established Internet company, today announced the appointment of Cai Zhifang as the Chief Executive Officer of NBTC Limited (hereinafter referred to as "NBTC"), a wholly-owned subsidiary of The9, to lead the development of blockchain and cryptocurrency business in NBTC. Mr. Cai has been on board.
Mr. Cai is an early pioneer in the blockchain industry. In 2013, Mr. Cai co-founded YiBit Digital Technology Company Limited, one of the earliest integrated platforms in blockchain industry in China. In 2015, Mr. Cai served as the general manager of WeiTui Technology Limited Company, which self-operated Bitcoin mining by the purchase of AvalonMiners from Canaan. The peak hash rate managed by Mr. Cai at that time accounted for nearly
After joining the NBTC team, Mr. Cai will be responsible for leading the expansion of NBTC blockchain and cryptocurrency business, making full use of his industry experience and resources to formulate and execute NBTC's business strategy, and to implement the cooperation between NBTC and worldwide cryptocurrency ecosystem partners with the goal to accelerate the establishment of The9's global leadership in the cryptocurrency industry.
In January this year, The9 announced the establishment of the wholly-owned subsidiary NBTC to engage in blockchain and cryptocurrency related businesses. Immediately within two months, Bitcoin and Filecoin mining machines had been acquired as the first step to build The9's cryptocurrencies mining business.
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
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