Chinese Miner The9 Signs Joint Venture for Crypto Mining Plant in Kazakhstan

Nasdaq-listed The9 has signed a joint-venture agreement to develop cryptocurrency mining sites with a total capacity of 200 megawatts in Kazakhstan.

• 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.