Internet company The9 Ltd has signed a series of agreements to purchase mining devices for the cryptocurrency Chia (XCH) as well as to lease cloud services with three different providers for a total of more than $5.7 million.
As part of the deal, The9 will receive around 130 pebibytes of storage, the company has reported.
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The cryptocurrency Chia is based on the Proof-of-Space and Proof-of-Time consensus algorithms. At the moment, the total amount of disk space it occupies exceeds 5.2 exabytes.
Earlier it has been reported The9 has increased its Bitcoin mining capacity by acquiring new equipment from MicroBT and Bitmain. At the same time, the company has closed a $2 million deal to purchase and deploy equipment for Filecoin mining and has increased data storage capacity to 80 pebibytes.