Share this article
Gaming Company The9 to Buy 2,000 Bitcoin Mining Machines for About $6.72M in Stock
The company also completed the signing of definitive agreements for 12,246 units of bitcoin mining machines with a total hashrate of 288PH/S.
Updated Sep 14, 2021, 12:38 p.m. Published Apr 9, 2021, 2:25 p.m.
Publicly traded Chinese gaming company The9 (NCTY) said Friday it agreed to buy 2,000 units of AvalonMiners bitcoin mining machines for about $6.72 million in stock.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
In an announcement, The9 said it signed a memorandum of understanding to buy the machines with a total hashrate of about 100PH/S. To pay for the machines, The9 said it will issue 8.12 million ordinary shares, equivalent to 270,913 American depositary shares (ADS). Based on the company’s share price of $24.81 prior to signing the MOU, the deal is valued at $6.72 million.
The9 also said it completed the signing of definitive agreements for 12,246 units of bitcoin mining machines with a total hashrate of 288PH/S. Under the terms of these deals, The9 will issue 9,387,840 Class A ordinary shares (equivalent to 312,928 ADS) to the sellers, with a lockup period of six months. If the same ADS price as the earlier agreements were used, these pacts would be valued in total at about $7.76 million.
Read more: Riot Blockchain Signs Contract to Purchase 42,000 Mining Machines From Bitmain
As reported by CoinDesk, bitcoin’s hashrate, which is a way to measure the total power consumption and mining output of the network, has topped a new all-time high as mining firms like The9 continue to add more hash power.
The9’s ADS were down a little more than 4% in recent trading to $27.21.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
ETH, ADA, SOL Steady as Timezone Data Shows Europe Drove Deepest Bitcoin Selloff Since 2018
The broader market held its recent rebound, though liquidity remained thin ahead of Wednesday’s Federal Reserve decision.
What to know:
- Bitcoin steadied near $90,400 after a turbulent November, with Europe leading the sell-off.
- Strategy acquired 10,624 BTC, increasing its holdings to 660,600 BTC, amid concerns of potential index removal.
- The broader market held its recent rebound, though liquidity remained thin ahead of Wednesday’s Federal Reserve decision.
Top Stories
