The9 Appointed Wang Wei as the Vice President of NBTC Limited

Rhea-AI Summary

On March 15, 2021, The9 Limited (Nasdaq: NCTY) announced the appointment of Mr. Wang Wei as Vice President of its subsidiary, NBTC Limited. Mr. Wang, a blockchain industry pioneer, will oversee global operations and management of cryptocurrency mining machines at NBTC. He has previously led maintenance and after-sales for Canaan Technology, managing hundreds of thousands of mining machines. Under his leadership, NBTC aims to enhance operational efficiency and safety in cryptocurrency mining, furthering The9's global hash rate goals by acquiring Bitcoin and Filecoin mining machines.

Positive

• Appointment of Wang Wei as Vice President could enhance leadership in cryptocurrency operations.
• NBTC's accelerated purchases of Bitcoin and Filecoin mining machines support growth and operational efficiency.
• Wang Wei's experience in blockchain may bolster strategic development for mining operations.

Negative

• None.

SHANGHAI, March 15, 2021 /PRNewswire/ -- The9 Limited (Nasdaq: NCTY) ("The9"), an established Internet company, today announced the appointment of Mr. Wang Wei as the Vice President of NBTC Limited (hereinafter referred to as "NBTC"), a wholly-owned subsidiary of The9. Mr. Wang will lead the global operation and management of the cryptocurrencies mining machines in NBTC.

Mr. Wang is an early pioneer in the blockchain industry. Before joining The9, he served as the head of Canaan Technology's technical service center, leading the team responsible for the maintenance and after-sales service of hundreds of thousands of mining machines. At the same time, Mr. Wang's team assisted customers in building and upgrading blockchain supercomputing centers.

After joining the NBTC team in The9, Mr. Wang will be responsible for the strategic global operation and management of the cryptocurrencies mining machines, including deployment and management of mining machines, network equipment and mining facilities, and the development of operation strategy for different types of cryptocurrencies mining machines in different mining facilities and the cooperation with different mining pools to improve the operation and maintenance efficiency, ensure asset safety, and generate various reports for decision making. Also from a technical point of view, Mr. Wang will work with the management team to formulate the development strategy and execution plan of the cryptocurrencies mining business.

In January this year, The9 announced the establishment of the wholly-owned subsidiary NBTC to engage in blockchain and cryptocurrency related businesses. Since then NBTC has quickly and continuously purchased Bitcoin and Filecoin mining machines, in order to achieve The9's global hash rate goal in cryptocurrencies mining.

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.

View original content:http://www.prnewswire.com/news-releases/the9-appointed-wang-wei-as-the-vice-president-of-nbtc-limited-301247174.html

SOURCE The9 Limited

FAQ

Who is the new Vice President of NBTC Limited?

Mr. Wang Wei has been appointed as the Vice President of NBTC Limited.

What are Mr. Wang Wei's responsibilities at NBTC?

He will lead the global operation and management of cryptocurrency mining machines.

When did The9 announce the appointment of Wang Wei?

The announcement was made on March 15, 2021.

What is the significance of Mr. Wang Wei's appointment for The9?

His appointment may enhance operational efficiency and strategic development in cryptocurrency mining.

What is NBTC Limited's focus?

NBTC Limited focuses on blockchain and cryptocurrency-related businesses, including mining operations.

What mining machines has NBTC purchased recently?

NBTC has quickly purchased Bitcoin and Filecoin mining machines.