Nasdaq-listed The9 has entered into an agreement to host cryptocurrency mining equipment with Russian company BitRiver through its wholly-owned subsidiary NBTC Limited. The company said in a press release.
According to the document, BitRiver will reserve 15MW of electrical capacity for The9-owned ASIC miners at a data centre located in the village of Mukhorshibir in the Republic of Buryatia.
"All BitRiver data centres consume green electricity, which is confirmed by I-REC certificates," company spokesman.
The contract is for two years. Upon expiry of the term, both parties have the right to automatically extend the cooperation for another year.
As a reminder, The9 announced its entry into the mining industry in early January 2021. Within two days of the announcement, its shares soared 140%.
At the end of January, the company purchased 26,007 ASIC miners from unnamed suppliers and in March increased capacity by purchasing equipment from MicroBT and Bitmain.
In June, The9 signed an agreement to take over green mining company Montcrypto.