Gaming Company The9 Is Buying 5,000 More Bitcoin Miners
The firm announced its pivot to mining in January.
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 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.
Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.