Shanghai,China, June 4, 2021


The9 Limited (Nasdaq:NCTY) ("The9"), an established Internet company, today announced that it signed a definitive agreement (the "Agreement") toacquire Montcrypto Ltd. ("Montcrypto"), a Canadian company, to build a 20MW supply ofelectricity in Calgary, Canada. The carbon-neutral infrastructure of Montcryptoprovides a greener and more environmentally friendly power supply to the cryptocurrencymining business of The9.


Montcrypto had signed natural gas procurement contracts with local oilextraction companies and plans to build carbon-neutral cryptocurrency mining facilitiesby using natural gas as the source of electricity power generation. Accordingto the Agreement, The9 plans to invest a total of CAD7.6 million in Montcryptoin two phases to obtain the controlling stake in Montcrypto. Upon thecompletion of the two phases, the power capacity of the mining facilities willbe 20MW, which can supply electricity to operate more than 6,000 S19j Antminers.


Reducing carbon emissions and achieving carbon neutrality have been theconsensus among most governments and enterprises in the world. The9 also proactivelypromotes the implementation of carbon neutrality strategies among its supplyand demand chain partners. Montcrypto has a complete solution for the use ofclean energy, which can efficiently convert the byproduct natural gas from oildrilling into low-cost electricity, thereby supporting the construction ofcarbon-neutral cryptocurrency mining facilities.


Montcrypto will cooperate with oil companies in the Calgary area to deploy mobileand modular cryptocurrency mining facilities at the oil well sites, and convertnatural gas through a series of processing procedures such as recovery,pretreatment, and energy conversion of the natural gas. This provides a stable supplyof electricity for mass cryptocurrency mining machines.


According to the Agreement, The9 will pay hosting fee to Montcrypto at arate of CAD0.037/kWh for a period of 5 years. When all the 20MW carbon-neutralmining facilities are put into use, the byproduct natural gas in the area willbe reduced by approximately 53 million cubic meters every year, and thegreenhouse gas emissions of 128,000 tons of carbon dioxide equivalent will bereduced.


The9 also announced the closing of the investment in Skychain TechnologiesInc. ("Skychain"), a cryptocurrency mining facilities company listed inTSX Venture Exchange in Canada. The9's investment in Skychain is for its expansionin the capacity from 20MW to 32MW. The expansion of the mining site is locatedin Birtle, Manitoba,Canada. Upon the completion of the expansion, The9 will deploy its cryptocurrencymining machines there.


Other than the investments in the construction of the two cryptocurrency miningfacilities companies in Canada, The9 is also actively seeking for more efficientand environmentally friendly mining sites around the world for the deploymentof its cryptocurrency mining machines.


AboutThe9 Limited

The9Limited (The9) is an Internet company based in China listed on Nasdaq in 2004.The9 aims to become a diversified high-tech Internet company.


Forfurther information, please contact:

Ms.Connie Sun

InvestorRelations Specialist

The9Limited

Tel: +86-21-6108-6080

Email:IR@corp.the9.com

Website:https://www.the9.com/en

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The9 Limited published this content on 04 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 June 2021 09:14:05 UTC.