- The data center, acquired by The9's wholly owned subsidiary NBTC Ltd. and Kyrgyzstan firm SolarCoin LLC., will be powered by 31.5 megawatts (MW) and contribute 675 petahash/second of computing power, the press release said.
- The firm expects development to finish in July and electricity to cost 5 cents per kilowatt hour, according to the press release.
- Under the agreement, The9 will acquire ownership of 31.5 MW of transformers, along with their supporting low-voltage equipment, plant, network equipment, and the right to use the facility's high-voltage equipment and land.
- The9 has seen its shares plummet in the last six months, along with other crypto mining stocks. The shares have lost almost 90% of their value, plunging from $11.55 on Nov. 11 to $1.48 at market close on Tuesday.
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.