The9 Buys Data Center in Kyrgyzstan to Host 7,500 Antminers

The crypto miner expects the 31.5 MW facility to be ready in July.

AccessTimeIconMay 11, 2022 at 11:18 a.m. UTC
Updated May 11, 2023 at 5:39 p.m. UTC

Nasdaq-listed crypto miner The9 (NCTY) bought a data center in Kyrgyzstan, where it will install 7,500 Bitmain Antminer S19j bitcoin mining rigs, the firm said in a press release on Wednesday.

  • 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.
  • Originally an internet firm with operations in China, The9 entered crypto mining at the start of 2021. Following China's ban on the industry, it set up operations in Kazakhstan, Canada and the U.S. It also started a marketplace for non-fungible tokens.
  • Meme Coin Liquidity Hits Record High
    00:46
    Meme Coin Liquidity Hits Record High
  • How Ledger Stax Plans to Make Self-Custody More Mainstream
    16:42
    How Ledger Stax Plans to Make Self-Custody More Mainstream
  • Why Dogecoin Is a 'Weird' Investment
    16:39
    Why Dogecoin Is a 'Weird' Investment
  • AI Tokens Surge as Nvidia Becomes World’s Most Valuable Company
    00:47
    AI Tokens Surge as Nvidia Becomes World’s Most Valuable Company
  • Disclosure

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

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Eliza Gkritsi

    Eliza Gkritsi is a CoinDesk contributor focused on the intersection of crypto and AI.