65.8 F
New York
Wednesday, October 20, 2021

The9 [NASDAQ: NCTY] Inks Cryptocurrency Mining Hosting Agreement with BitRiver

Must read

The9 Limited [NASDAQ: NCTY] revealed on Monday that through its fully-owned business unit NBTC Limited, the firm has inked a cryptocurrency mining hosting agreement with BitRiver. Since its inception in 2017, it offers global hosting services and one-stop, turnkey solutions for large-scale cryptocurrency mining operations.

BitRiver will set aside 15MW of electric capacity for The9’s Bitcoin mining machine implementation as per the deal between the two firms. The initial period of the deal is 2 years. After the termination, both firms have the right to automatically expand their collaboration for an additional one year, except in cases where either party chooses not to do so.

Furthermore, BitRiver now uses excess hydroelectric power to manage data centers through low-cost and sustainable energy that provides hosting services for cryptocurrency mining in Russia and other regions. Presently, the aimed data center for mining machines of The9 has an early total power supply capability of 100MW, accommodating more than 33,000 mining machines.

Additionally, The9 will continue to actively hunt for low-cost electricity and sustainable energy mining services in several regions of the world. The firm aimed to speed up the disposition of large-scale cryptocurrency mining machines for The9 and other allies by both self-construction of mining facilities and hosting cooperation with mining facilities firms.

More articles

Latest article