Shanghai, China, July12, 2021
The9 Limited (Nasdaq: NCTY) ("The9"),an established Internet company, today announced that it has signed a cryptocurrencymining hosting agreement with Russian company BitRiver ("BitRiver")through its wholly-owned subsidiary NBTC Limited.
BitRiver,headquartered in Moscow, was established in 2017 to provide global hostingservices and a one-stop, turnkey solutions for large-scale cryptocurrencymining operations. BitRiver currently utilizes surplus hydroelectric power tooperate data centers through low cost and sustainable energy that offers hostingservices for cryptocurrency mining in Russia and the CIS region. At present, thetargeted data-center for The9's mining machines has an initial total powersupply capacity of 100MW which could host more than 33,000 mining machines.
According to theagreement between the two parties, BitRiver will reserve 15MW of electric capacityfor The9's Bitcoin mining machine deployment. The initial term of the agreementis 2 years. After the expiration, both parties have the right to automatically extendtheir cooperation for an additional one year, unless either party decides notto do so.
The9 willcontinue to actively seek for low-cost electricity and sustainable energymining facilities in different regions of the world to accelerate the deploymentof large-scale cryptocurrency mining machines for The9 and other partners byboth self-construction of mining facilities and hosting cooperation with miningfacilities companies.
About The9 Limited
The9 Limited (The9) is an Internetcompany based in China listed on Nasdaq in 2004. The9 aims to become adiversified high-tech Internet company.
Safe Harbor Statement
This announcement containsforward-looking statements. These statements are made under the "safe harbor"provisions of the United States Private Securities Litigation Reform Act of1995. 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'scurrent expectations and current market and operating conditions and relate toevents that involve known or unknown risks, uncertainties and other factors,all of which are difficult to predict and many of which are beyond The9'scontrol. The9 may also make written or oral forward-looking statements in itsperiodic reports to the SEC, in its annual report to shareholders, in pressreleases and other written materials and in oral statements made by itsofficers, directors or employees to third parties. Statements that are nothistorical facts, including statements about The9's beliefs and expectations,are forward-looking statements. Forward-looking statements involve inherentrisks and uncertainties. A number of factors could cause actual results todiffer materially from those contained in any forward-looking statement,including but not limited to the following: The9's goal and strategies; The9'sexpansion plans; The9's future business development, financial condition andresults of operations; The9's expectations regarding demand for, and marketacceptance of, its products and services; The9's expectations regarding keepingand strengthening its relationships with business partners it collaborateswith; general economic and business conditions; and assumptions underlying orrelated to any of the foregoing. Further information regarding these and otherrisks is included in The9's filings with the SEC. All information provided inthis press release and in the attachments is as of the date of this pressrelease, and The9 does not undertake any obligation to update anyforward-looking statement, except as required under applicable law.
For further information, pleasecontact:
Ms. Connie Sun
Investor Relations Specialist
The9 Limited published this content on 12 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 July 2021 10:13:00 UTC.