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Chinese Miner The9 Signs Joint Venture for Crypto Mining Plant in Kazakhstan
The plant will be able to provide up to 200MW of power by the end of 2022.
Nasdaq-listed The9 has signed a joint-venture agreement to develop cryptocurrency mining sites with a total capacity of 200 megawatts in Kazakhstan.
STORY CONTINUES BELOW
- The Shanghai-based mining company said Friday its NBTC subsidiary signed an agreement with Kazakhstan’s LGHSTR.
- NBTC will take priority in deploying cryptocurrency mining machines at the developed sites.
- As much as 100MW should be completed by the end of this year, with the full amount available a year later in 2022.
- Once completed, the sites could deploy more than 50,000 S19 Antminers and accommodate about 5EH/s of hash power.
- The9's subsidiary will own 51% of the joint venture and control the board of directors.
- On Aug 4, The9 signed a joint venture agreement with Kazakhstan cryptocurrency mining firm KazDigital to build a crypto mining site in Kazakhstan.
Read more: Chinese Miner The9, KazDigital to Build Crypto Mining Plant in Kazakhstan
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
