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The9 Limited (NCTY)

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13.50+2.32 (+20.75%)
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13.38 -0.12 (-0.89%)
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  • The9 Signed Legally Binding Memorandum of Understanding on the Purchase of Bitcoin Mining Machines
    PR Newswire

    The9 Signed Legally Binding Memorandum of Understanding on the Purchase of Bitcoin Mining Machines

    The9 Limited (Nasdaq: NCTY) ("The9"), an established Internet company, today announced that it signed five legally binding Memorandum of Understanding (collectively the "MOUs") with five Bitcoin mining machine owners to purchase Bitcoin mining machines by the issuance of Class A ordinary shares. After the completion of the transaction, The9 is expected to own 26,007 Bitcoin mining machines, with a total hash rate of approximately 549PH/S, accounting for about 0.36% of the global hash rate of Bitcoin. Majority of these mining machines have already been deployed in Xinjiang, Sichuan and Gansu in China.

  • The9 Signed a Legally Binding Cooperation and Investment Term Sheet with Cryptocurrencies Mining Investors Led by Jianping Kong to Start the Cryptocurrencies Business
    PR Newswire

    The9 Signed a Legally Binding Cooperation and Investment Term Sheet with Cryptocurrencies Mining Investors Led by Jianping Kong to Start the Cryptocurrencies Business

    The9 Limited (Nasdaq: NCTY) ("The9"), an established Internet company, today announced that it signed a legally binding cooperation and investment term sheet (the "Term Sheet") with several investors in the cryptocurrencies mining industry including Jianping Kong, the former Director and Co-Chairman of Canaan Inc. (Nasdaq: CAN, the first Bitcoin mining machine manufacturer listed on Nasdaq), Qifeng Sun, the former Director of Canaan Inc., Li Zhang and Enguang Li (collectively, the "Investors"). Pursuant to the Term Sheet, The9 will issue Class A ordinary shares and warrants to the Investors. The9 is expected to receive proceeds from the transactions contemplated under the Term Sheet in accordance with certain pre-agreed conditions, if realized. The Investors are expected to utilize their cryptocurrencies mining industry resources to assist The9 for its development of cryptocurrencies mining business. The9 will set up a new wholly owned subsidiary NBTC Limited to operate its blockchain and cryptocurrencies business.

  • The9 Limited to Hold Annual General Meeting on December 22, 2020
    PR Newswire

    The9 Limited to Hold Annual General Meeting on December 22, 2020

    The9 Limited (Nasdaq: NCTY ) (the "Company"), an established Internet company, today announced that it will hold its annual general meeting of shareholders at the 17 Floor, No. 130 Wu Song Road, Hong Kou District, Shanghai 200080, People's Republic of China on December 22, 2020 at 2:00 p.m., Shanghai time.