Chinese Miner The9 Signs Joint Venture for Crypto Mining Plant in Kazakhstan
14 min ago•1 min read•Mining
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.