Bitcoin miner The9 will produce 100 MW electricity in Kazakhstan via joint venture
The9 bitcoin mining firm confirmed that they will produce 100 MW electricity in Kazakhstan under an acquisition agreement with their subsidiary NBTC Ltd.
Shanghai-headquartered bitcoin mining firm The9, which recently shifted to Kazakhstan because of China’s crackdown on crypto mining ban & trading ban.
The9 firm announced on Wednesday that they plan to produce electricity by 100 MW by the first quarter of 2022. And they will achieve their goal under Partnership. Also stated that its fully aquisted subsidiary NBTC Limited has signed an investment agreement with a Kazakhstan based mining partner KazDigital.
According to The9, they will work in total 4 phases. In the first quarter phase they will work on to produce 25MW of electricity and then so on until they will reach the goal of 100 MW.
Also The9 revealed that the first phase of their deve work has been completed already on 1 August. And they will transfer 1000 units of mining purpose electricity for the test of water.
As The9 is a publicly listed Nasdaq listed bitcoin mining firm and also it was the most significant firm from the point of contribution in hashpower for Bitcoin. But after China’s law on ban of mining operations resulted in a big downfall in the hash power. But now in the present time The9 is showing his significant contribution for Bitcoin through their mining operations & better development work for the mining ecosystem.
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