Nasdaq-listed crypto miner The9 (NCTY) purchased an information heart in Kyrgyzstan the place it should set up 7,500 Bitmain Antminer S19j bitcoin mining rigs, the agency stated in a press launch on Wednesday.
The info heart, acquired by The9’s wholly-owned subsidiary NBTC Restricted and Kyrgyzstan agency SolarCoin LLC., will likely be be powered by 31.5 megawatts (MW) and can contribute 675 petahash/second of computing energy, the press launch stated.
The agency expects growth to complete in July and electrical energy to value $0.05 per kilowatt hour, in response to the press launch.
Beneath the settlement, The9 will purchase possession of 31.5 MW of transformers, together with their supporting low-voltage gear, plant, community gear, and the correct to make use of the ability’s high-voltage gear and land.
The9 has seen its shares plummet within the final six months, together with different crypto mining shares. NCTY shares traded on the Nasdaq have misplaced virtually 90% of their worth, plunging from $11.55 on Nov. 11 to $1.48 at market shut on Tuesday.
Initially an web agency with operations in China, The9 entered crypto mining initially of 2021. Following China’s ban on the trade, it arrange operations in Kazakhstan, Canada, and the U.S. It additionally launched a market for non-fungible tokens.
Learn extra: Kazakhstan Orders Crypto Miners to Register With Authorities