Gaming Company The9 Is Buying 5,000 More Bitcoin Miners

The firm announced its pivot to mining in January.

Feb 5, 2021 at 1:41 p.m. UTC
Updated Sep 14, 2021 at 12:07 p.m. UTC

Publicly traded Chinese gaming company The9 (NASDAQ: NCTY) has inked a deal to buy 5,000 more bitcoin (BTC) mining machines.

  • According to an announcement Friday, its subsidiary, NBTC Ltd., has signed an agreement with Shenzhen-based MicroBT to buy WhatsMiner machines within one year.
  • The agreement covers the purchase of the M32 and M31S WhatsMiner models, with the first batch of 440 M32 machines bought today.
  • The9 said plans to keep on buying different types of cryptocurrency mining machines going forward.
  • In late January, the firm announced its pivot to bitcoin mining, saying it was buying 26,007 unnamed bitcoin ASIC machines, with most already deployed in China at the time of the announcement.
The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
CoinDesk - Unknown
CoinDesk Cardano Price Index (ADX)

CoinDesk - Unknown
2
CoinDesk - Unknown
CoinDesk Smart Contract Platform Select Index (SCPX)

CoinDesk - Unknown
3
CoinDesk - Unknown
First Mover Asia: KuCoin Plans to Bolster DeFi Activity on Its Blockchain After $150M Raise; Cryptos Gain

The crypto exchange will add technical features to support developers and build on KuCoin's public blockchain; bitcoin outperforms ether.

The crypto exchange will add technical features to support developers and build on KuCoin's public blockchain; bitcoin outperforms ether.

CoinDesk - Unknown
4
CoinDesk - Unknown
CFTC Charges 2 Men With Running a $44M Crypto Ponzi Scheme

Sam Ikkurty and Ravishankar Avadhanam are accused of using YouTube videos to dupe would-be clients into investing in various crypto funds.

Sam Ikkurty and Ravishankar Avadhanam are accused of using YouTube videos to dupe would-be clients into investing in various crypto funds.

CoinDesk - Unknown