The publicly traded Chinese gaming company known as The9 (NCTY) have announced an actual plan and agreement to buy up to 26,007 bitcoin ASICs and that is really part of its plan to be able to actually launch a cryptocurrency mining initiative.
It has been confirmed that the9's subsidiary NBTC will be able to actually own and also be able to operate the machines, and they are really expected to be up to a total of around 549 petahashes per second (PH/s) of hash power....
The9 have confirmed that a "majority" of all these mining machines have been actually deployed in Xinjiang, in Sichuan and also in gansu.
According to the press release, Canaan's (CAN) former director, Jianping Kong, have confirmed that it will also help the Shanghai-based Internet company launch and also help to maintain its effective cryptocurrency mining operations.
Specific details concerning which machines and also from where The9 purchased them were not been disclosed too, but The9 made it known that they have signed five separate memorandums of understanding (MOUs) to secure the machines.
The9 have said that it will really issue shares to be able to actually pay for the new machines, but they not made a disclosure of how many shares are really going to be issued.
The Shares of the company was actually able to gain up to 20 percentage on monday from the closing price on Friday and it is currently trading above $13.
Posted Using LeoFinance Beta
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