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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.
Updated May 9, 2023, 3:22 a.m. Published Aug 20, 2021, 12:25 p.m.
Nasdaq-listed The9 has signed a joint-venture agreement to develop cryptocurrency mining sites with a total capacity of 200 megawatts in Kazakhstan.
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- 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
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