The9, a Chinese internet company listed on the Nasdaq, is moving forward with its cryptocurrency mining plans by signing a contract with a major Russian data center operator.
The company announced Monday that it has signed a crypto mining hosting agreement with Russian crypto mining services provider BitRiver through its fully-owned subsidiary NBTC.
As part of the agreement, BitRiver will reserve 15 megawatts (MW) of its electric capacity for The9’s Bitcoin (BTC) mining machine deployment for an initial term of two years. After the contract expires, both parties have the right to automatically extend their cooperation for one more year, the announcement notes.
As part of the agreement, The9 will place a batch of Bitcoin miners at BitRiver’s data center located in Russia’s Republic of Buryatia, a spokesperson for BitRiver told Cointelegraph. The9 is now expected to determine the exact number and type of mining devices that they plan to send to BitRiver’s data center. The facility has an initial total power capacity