Chinese Company The9 Seeks Joint Venture for 200 MW Mining Capacity in Kazakhstan

Chinese Company The9 Seeks Joint Venture for 200 MW Mining Capacity in Kazakhstan

THELOGICALINDIAN - The9 a gaming and internet aggregation based in China is planning to body new crypto mining accessories in Kazakhstan with a absolute accommodation of 200 megawatts MW It wants to apprehend the activity through a collective adventure with a bounded article which will additionally accommodate mining accouterments aliment

The9 Subsidiary Signs Investment Memorandum With Kazakhstan Company

NBTC, a wholly-owned accessory of Shanghai-headquartered The9, and the Kazakhstan-registered LGHSTR Ltd. accept active a non-binding advance announcement to authorize a collective adventure in the Central Asian republic, the Chinese aggregation announced. NBTC will own 51% and ascendancy the new entity’s lath of directors, a columnist absolution detailed.

The capital assignment of the collective adventure will be to body cryptocurrency mining sites with a absolute accommodation of 200 MW aural two years, The9 revealed. The completed accessories will be able to board over 50,000 S19 Antminer accessories and accept about 5 EH/s of assortment power, the aggregation said. About 100 MW of accommodation should be accessible by the end of this year, and the borderline for the blow has been set at the end of 2022.

The9 is currently alive to globalize its crypto mining business as allotment of a added accomplishment to authorize itself as a diversified high-tech internet company. Cai Zhifang, CEO of NBTC, acclaimed that the aboriginal accumulation of its assortment ability has already been adequate in Kazakhstan in aboriginal August, pointing out that the accessories has been operating stably. The controlling added:

Chinese Cryptocurrency Miners Continue Migration to Friendly Destinations

The9 emphasized it will abide to attending for bargain electricity and acceptable activity mining accessories in altered regions about the world. It wants to advance the all-embracing deployment of cryptocurrency mining hardware, both its own as able-bodied as accessories acceptance to its partners. To accomplish that, the aggregation affairs to advance in new mining farms and abet with operators of absolute facilities.

Earlier in August, its NBTC accessory signed a non-binding appellation area for the enactment of a collective adventure aggregation with addition article from Kazakhstan, Kazdigital Ltd. The plan is to body a cryptocurrency mining armpit with a accommodation of 100MW which will be acclimated to arrange mining rigs endemic by The9 and added mining companies. And in July, the Chinese close active a hosting acceding with Bitriver to advantage 15 MW of the Russian company’s mining accommodation for two years.

Amid an advancing crackdown on bitcoin mining beyond China, miners from the People’s Republic accept been relocating to friendlier jurisdictions. In June, Shenzhen-based Bit Mining started aircraft mining accessories to the country, moving 3,000 machines. A ages later, the aggregation appear it’s accretion its operations in Central Asia with the acquirement and deployment of addition 2,500 miners in Kazakhstan. Around the aforementioned time, accouterments architect Bitmain unveiled a plan to host Antminer S19 Pro miners in a 180 MW abstracts centermost operated by Enegix.

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