Chinese The9 Buys 2K Mining Rigs for $6.7M
Main page News, Bitcoin, China, Mining

The9, a Shanghai-based online game operator, has announced it will buy 2,000 units of AvalonMiners with a total hash rate of approximately 100PH/S. According to a press release, The9 will issue over 8 million Class A ordinary shares, which prior to signing of the agreement valued the deal at $6.72 million.

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The company also said it completed the signing of the definitive agreements for 12,246 units of bitcoin (EXANTE: Bitcoin) mining machines with total hash rate of approximately 288PH/S.

The9 Purchases 26,000 ASIC Mining Devices

In March, The9 signed a bitcoin mining machine purchase agreement with Bitmain. The9 will get 24,000 Antminer S19j mining machines, which are scheduled to deliver starting from November 2021. According to Chinese blockchain journalist Colin Wu, the deal valued at approximately $200 million.

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