Chinese Miner The9 Signs Joint Venture for Crypto Mining Plant in Kazakhstan

Chinese Miner The9 Signs Joint Venture for Crypto Mining Plant in Kazakhstan

Nasdaq-listed The9 has signed a joint-venture agreement to develop cryptocurrency mining sites with a total capacity of 200MW in Kazakhstan.

  • The Shanghai-based mining company said Friday its NBTC subsidiary signed an agreement with Kazakhstan’s LGHSTR.
  • NBTC will take priority in deploying cryptocurrency mining machines at the developed sites.
  • As much as 100MW should be completed by the end-2021, with the full amount available a year later.
  • Once completed, the sites could deploy more than 50,000 S19 Antminers and accommodate about 5EH/s of hash power.
  • The9's subsidiary will own 51% of the joint venture and control the board of directors.
  • On Aug 4, The9 signed a joint venture agreement with Kazakhstan cryptocurrency mining firm KazDigital to build a crypto mining site in Kazakhstan.
  • Source