SHANGHAI, May 11, 2022
/PRNewswire/ -- The9 Limited (Nasdaq: NCTY) ("The9"), an
established Internet company, today announced that its
wholly-owned subsidiary NBTC Limited and Kyrgyzstan enterprise SolarCoin LLC
(hereinafter referred to as "SolarCoin") have signed a Purchase
Agreement (the "Agreement") regarding a block chain computing
center in Kyrgyzstan, pursuant to
which The9 will obtain 31.5MW electricity capacity for the
deployment of its 7,500 Antminer S19J Bitcoin mining machines
contributing approximately 675PH/s hash power. The parties are
looking forward to complete the construction work and have the
computing center powered on around the end of July 2022. The
expected electricity cost of the computing center is US$0.05/kWh.
According to the Agreement, The9 will acquire the ownership of
transformers with a capacity of 31.5 MW along with the supporting
low voltage equipment, plant and its internal supporting facilities
(high voltage excluded), network equipment as well as the right to
use the high voltage equipment and land in perpetuity.
About The9 Limited
The9 Limited (The9) is an Internet company based in China listed on Nasdaq in 2004. The9 aims to
become a diversified high-tech Internet company, and is engaged in
blockchain business including the operation of cryptocurrency
mining and Metaverse celebrity social platform NFTSTAR.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the
United States Private Securities Litigation Reform Act of 1995.
These forward-looking statements can be identified by terminology
such as "will," "expects," "anticipates," "future," "intends,"
"plans," "believes," "estimates" and similar statements. Such
statements are based upon management's current expectations and
current market and operating conditions and relate to events that
involve known or unknown risks, uncertainties and other factors,
all of which are difficult to predict and many of which are beyond
The9's control. The9 may also make written or oral forward-looking
statements in its periodic reports to the SEC, in its annual report
to shareholders, in press releases and other written materials and
in oral statements made by its officers, directors or employees to
third parties. Statements that are not historical facts, including
statements about The9's beliefs and expectations, are
forward-looking statements. Forward-looking statements involve
inherent risks and uncertainties. A number of factors could cause
actual results to differ materially from those contained in any
forward-looking statement, including but not limited to the
following: The9's goal and strategies; The9's expansion plans;
The9's future business development, financial condition and results
of operations; The9's expectations regarding demand for, and market
acceptance of, its products and services; The9's expectations
regarding keeping and strengthening its relationships with business
partners it collaborates with; general economic and business
conditions; and assumptions underlying or related to any of the
foregoing. Further information regarding these and other risks is
included in The9's filings with the SEC. All information provided
in this press release and in the attachments is as of the date of
this press release, and The9 does not undertake any obligation to
update any forward-looking statement, except as required under
applicable law.
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SOURCE The9 Limited