The9, a Chinese Internet company Listed On Nasdaq, the company signed a contract with a major data center operator in Russia to advance its cryptocurrency mining plan.
the company Announce On Monday, it has signed a crypto mining custody agreement with BitRiver, a Russian crypto mining service provider, through its wholly-owned subsidiary NBTC.
As part of the agreement, BitRiver will be The9’s Bitcoin (Bitcoin) The initial period of mining machine deployment is two years. The announcement stated that after the contract expires, both parties have the right to automatically extend the cooperation period for another year.
A BitRiver spokesperson told Cointelegraph that as part of the agreement, The9 will place a group of Bitcoin miners at BitRiver’s data center in the Republic of Buryatia, Russia. It is now expected that The9 will determine the exact number and type of mining equipment they plan to send to the BitRiver data center. The facility has an initial total power capacity of 100 megawatts and can host more than 33,000 mining equipment.
BitRiver is called The largest crypto mining hosting service provider In Russia, it provides custodial services for large-scale crypto mining operations. The company provides renewable energy for crypto mining, exclusively using surplus hydropower to operate its data centers in Russia and the Commonwealth of Independent States (CIS), which has been confirmed by the certificate of the International Renewable Energy Certification Standards Foundation .
When the news broke, The9 continued to enter the cryptocurrency mining business after announcing its plan to enter the industry earlier this year.The company said in January that it sign Established partnerships with many investors including crypto mining giant Canaan.
June, The9 Arrivals The final agreement to acquire Montcrypto, a Canadian cryptocurrency mining company, to build a 20 MW power supply in Calgary. The company stated that Montcrypto uses its carbon-neutral infrastructure to provide “greener and more environmentally friendly power” to The9’s mining operations.